How to Conduct a Productive Meeting

by

Denver meeting space

Your business depends on the success of your meetings. Whether you meet with customers, suppliers or collaborators, you need to present yourself impeccably.

Keep in mind the following rules, and your meeting will surely be a successful one.

  1. Present yourself in a professional way. You cannot go on a meeting without business cards. This is an essential first rule. Make sure that your business cards are representative for your business, that they have quality print as well as quality support. To make a good impression from the beginning, opt for a special business card model, and a cardboard other than the ordinary glossy white cardboard.

Besides business cards, prepare materials (reports, presentations, brochures, etc.) printed on quality paper, with “clean” graphics and professional images. You can opt for personalized folders or personalized chair agendas. They will create a good impression, showing how attentive you are to detail, promotion and quality. In addition, they will help you maintain the relationship with the interlocutor who will receive the materials that will help him remember your meeting.

  1. Get informed. Know everything you can about the one who will be your interlocutor. Find out as much as possible about their company, their needs that you may be able to meet, or services / products that they may be able to offer you. Show them the advantages of working with you.
  1. Create a presentation. If you have a meeting with a group of people, to whom you have to present your business, besides the printed materials, a presentation will help you. Make a speech from home and repeat it to check the tone of your voice and your approach. It is very important to be coherent, to follow a plan of discussion.
  1. Ask essential questions and be a good listener. A meeting is a good opportunity to learn more about the interlocutor, and to use all the information you get in your favor. Pay attention to the direction of the discussion and gently bring it to what interests you. Be careful not to talk too much about yourself, and do not allow your meeting partner to do it either. The discussion has to be objective and balanced, with questions and answers from both sides.
  1. Answer the questions clearly. If you tend to give a lot of information and tell detailed stories about your products/ services, you must restrain yourself. It is not good to get lost in details. You should focus instead on answering the questions of your interlocutor and be clear about what you can offer them.
  1. End the meeting with what interests you. Do not be aggressive, but do not leave the meeting without knowing that have achieved something. If you did your job properly during the meeting, you presented your products/ services, you offered printed materials, you asked questions, you listened, but also answered clearly your interlocutor’s questions, you can end the meeting with the question “when can we start?”

For a successful and productive meeting, you will also need a suitable space to organize it. If you do not have an office, make sure you rent a professional Denver meeting space in advance.

 

Denver Business Brokers: Why You Need to Turn to a Professional

by

Selling a business in Denver is a lengthy and complicated process, and it can take you a lot of time if you plan to do it on your own. Many business owners prefer to be represented by a professional business broker because it speeds up the process and offers certain benefits and assurances that wouldn’t be available otherwise. Also, turning to a professional can take a lot of the hard work off your shoulders – such as finding clients, screening them to make sure they won’t scam you, and assisting with all the necessary paperwork.

Denver Business brokers

Benefits That Only a Professional Broker Will Give You

As you hire a Denver business broker, you’ll want to receive the best representation you can get. That’s precisely what the leading brokers in town will give you and why you should consider turning to them when it comes to selling your business. Consider just some of the important benefits you can gain by doing so:

  • Confidentiality is one of the best things you can have when selling a business. You don’t always want publicity while dealing with a process that can sometimes get messy. Also, if your customers, business partners or other involved parties learn that the business is for sale before you’re ready to tell them, your business and profits can suffer greatly as a result of that.
  • Another reason why you should turn to a professional business broker is the buyer qualification process. Many brokers have this process in place and allow you to have a lot of freedom in deciding who should be considered a qualified buyer. At the same time, they can advise you and integrate into the process methods of screening businesses based on their financial abilities, so you won’t waste time with businesses that simply don’t have the means to offer the amount that you want to get.
  • Aside from professional experience and the knowledge required to get all your documents sorted out, there is one more benefit that has to be at least mentioned: good marketing support. Experienced Denver business brokers have a lot of contacts and a significant marketing network that they can put to good use to find the right buyer for your business.

A 1-on-1 Relationship

The best Denver business brokers will not be willing to represent everyone who plans to sell their businesses. They only do so for businesses that they genuinely feel would sell. However, when they do end up representing you, they’ll provide you with the attention, care and professionalism that your business listing deserves.

Moreover, a good business broker will not take on a lot of listings, so they won’t stretch themselves too thin. Instead, they will always have time to take care of your questions and any unforeseen or difficult issues that could come up.

This level of 1-on-1 care will provide you with the assurance that nothing will get past their radar and that your business will be represented properly. So you won’t have to worry about the period of the listing being extended for a lengthy amount of time, or that your Denver broker will be too busy to take your calls.

Who Can Help You Prepare to Sell Your Business

by

The involvement of a team of specialists in selling a business helps to maintain its market value both by quickly solving the problems that arise, but also by preventing them, because the process is, in most cases, long. You may need a lawyer, an accountant, but also an appraiser, a consultant and a broker.

A broker can play a very important role in selling a business, both for entrepreneurs who do not have experience in selling a company, and for those who have experience, but prefer to dedicate their time to running it.

A Business Broker can give you an estimate of the sale / purchase value of a business or transaction in general and can advise and assist you in the sale process. All these without revealing your identity in front of anyone (if the whole market finds out that the business is on sale, it will affect the sale value of the business or even block the transaction). Selecting potential buyers (pre-qualification of the buyer) before meeting with the seller, preliminary discussions, presenting opportunities and pre-negotiation are also services that can be safely provided by a broker, as well as assistance in the due diligence process and final negotiations, but also the assistance subsequent to the completion of the transaction.

business brokers

The benefits of working with business brokers

  • setting the asking price for the business is a real first challenge for sellers, and a Business Broker connected to the market pulse, with experience and a network of business contacts can provide valuable indications in this regard;
  • conducting an objective analysis of the business, to know what adds value to the business and what could be a problem for selling it, from the perspective of the buyer – investor;
  • a broker can help you maintain the confidentiality of your intention to sell the business and represent you before disclosing the details to those who are really interested to purchase;
  • making important decisions during discussions with potential buyers;
  • advertising the sale in relevant business environments, taking over the requests from the interested people and checking their good intentions.

For businesses that are more difficult to evaluate, hiring a broker is very important because it can help you determine the valuation method and the right price for your business. A good broker will charge a commission, but the services provided and the profit it can generate is worth the investment.

How to find the right broker for your needs

  • Make sure the broker you want to work with deals with businesses, not with real estate;
  • Interview several brokers to find the right one;
  • Ask them if they have ever sold business in the same field as yours;
  • Discuss their experience, how long they have been in the field and how they intend to advertise you.

Privacy is very important!

Do not forget to sign confidentiality agreements with the sales team, to ensure the normal operation of the business during the sales and transition preparation process. When there is too much information about your plans, you can lose customers, employees and especially potential buyers.

 

Does Your Company Need Professional Liability Insurance?

by

Professional liability insurance is also referred to as professional indemnity or errors and omissions insurance and has been created to protect businesses and service providers from the cost of dealing with negligence lawsuits and other claims related to errors during job performing.

Who needs professional liability insurance?

Every business and service professional providing expert advice and service should be covered by this type of insurance. For examples, lawyers and doctors are required by the law, in some states, to purchase liability insurance, which, in their case, is known as malpractice insurance. Other examples of business owners and professionals who could benefit from purchasing this type of insurance include engineers, architects, accountants, financial consultants, marketing and advertising professionals, real estate brokers etc. In other words, any professional advice or service that could go wrong and harm clients should be covered, to avoid paying lots of money from your pocket for compensations and dealing with lawsuits. Any client might take legal action against you, so you would better be covered, otherwise you may sink in debt and even be forced to close down your business.

professional liability insurance

Why you need professional liability insurance?

Because we are all subject to mistakes, no matter how good are our intentions and how well-trained we are in our job. Besides, it is not always about negligence, but also about misinterpretation and even violation of good faith.

Examples of incidents covered by professional liability insurance

  • Doctors who misdiagnoses patients’ condition or cause them unintentional injury during surgeries or other medical procedures.
  • A professional or a marketing team of a company uses copyrighted images or text for social media marketing
  • A company signs a contract with a supplier for some materials, but receives poor quality products  and no quality assurance check

In the unfortunate case that your business is sued by a client, being covered by professional liability insurance will provide you a lawyer as well as compensation for any damages that arise from the lawsuit, whether or not you are at fault. This type of insurance extends to allegations brought against, your business partners and employees.

What is not covered?

  • Bodily injuries – With the exception of medical malpractice, where bodily injuries are covered, others require other types of insurance such as product liability, general liability insurance or workers compensation
  • Physical property damage – This is typically covered by general liability or property insurance
  • Illegal actions or intentional wrongdoing
  • Employment discrimination – This falls under employment practices liability insurance

If it seems overwhelming to consider so many types of insurance, don`t worry; in most of the cases they come together in one package.

The cost of professional liability insurance Colorado

What will you pay for general liability insurance Colorado want to know? The price you will pay for being covered is influenced by some factors including your industry, location, the number of your contracts, the training you provide to your employees and the control procedures you use. Also, the more coverage you need, the higher your costs and the higher your deductible, the lower your premiums.

It is also important to know that your insurer will also take into consideration the history of lawsuits filed against your business, which can also increase your premiums.