Eagle Strategy Group LLC Launches Active Mentoring Program
Manhattan, NY, November 22, 2005 – Eagle Strategy Group LLC today announced that it will begin offering an Active Mentoring Program (AMP) to small and medium businesses. The driving principal behind AMP is to train internal employees to identify needs, assess conditions, create solutions, implement solutions, and monitor results, while an experienced consultant serves in a mentoring role.
AMP is a flexible approach that can be utilized at any level or within any department in your organization. An Eagle Strategy Group Consultant works as a “Mentor” within your organization. Through group workshops and interviews, the Mentor helps employees identify needs or areas for improvement. The Mentor then facilitates the assessment and creation of a solution by training employees to utilize modern business principals, tools, and technology. Finally, the Mentor helps the employees implement the solution and monitor the results.
Steve Mooar of Eagle Strategy Group LLC commented that “There are a lot of small and medium business out there that would like to initiate projects that bring new business principles to their organizations, but do not have the resources internally or the resources to bring in external people to complete these projects.” He went on to say that “AMP gives these businesses a cost effective way to complete these projects by training internal employees and guiding them through the project.”
There is also an Active Mentoring Program (AMP) for Startups, where Eagle Strategy Group works with entrepreneurs on new ventures. Through AMP for Startups, a mentor guides the entrepreneur through the business plan and business launch process.
About Eagle Strategy Group LLC
Eagle Strategy Group provides Strategy Consulting Services to small and medium sized businesses. Eagle specializes in developing strategic solutions in Operations, Information Technology (IT), Startup, and Merger and Acquisitions (M&A), as well as provides interim management support. For more information on AMP, AMP for Startups and other consulting services go to www.eaglestrategygroup.com and contact:
Steve Mooar
info@eaglestrategygroup.com
Phone: 917.475.4691
Fax: 917.591.5239
Tuesday, November 22, 2005
Wednesday, October 19, 2005
SMB Strategy Cast Podcast Available at iTunes
The SMB Strategy Cast Podcast is now available at the iTunes Muisc Store. A few months ago, Apple added a PodCast section to the iTunes software as well as a directory of PodCasts in the Music Store. In the Music Store, users can search PodCasts by keyword or browse by subject and subscribe and listen to the Podcasts. If you use iTunes and are on a computer with iTunes running, you can click on this link to listen to the SMB Strategy Cast.
If you are not an iTunes user you can still download or stream the SMB Strategy Cast from the weblog for the PodCast located on our site at www.bizplanhelp.com/podcast/. If you use an aggregator to view weblogs or listen to Podcasts, there is the option to subscribe to the XML feed.
Also, if you want to search for other Podcasts, the iPodder.org directory is a good start. The SMB Strategy Cast is listed in the iPodder “Business” section with many other great business podcasts. The site also has many other categories to explore.
The SMB Strategy Cast Podcast is now available at the iTunes Muisc Store. A few months ago, Apple added a PodCast section to the iTunes software as well as a directory of PodCasts in the Music Store. In the Music Store, users can search PodCasts by keyword or browse by subject and subscribe and listen to the Podcasts. If you use iTunes and are on a computer with iTunes running, you can click on this link to listen to the SMB Strategy Cast.
If you are not an iTunes user you can still download or stream the SMB Strategy Cast from the weblog for the PodCast located on our site at www.bizplanhelp.com/podcast/. If you use an aggregator to view weblogs or listen to Podcasts, there is the option to subscribe to the XML feed.
Also, if you want to search for other Podcasts, the iPodder.org directory is a good start. The SMB Strategy Cast is listed in the iPodder “Business” section with many other great business podcasts. The site also has many other categories to explore.
Tuesday, October 11, 2005
New Business Strategy Resources – Links & SMB Strategy Podcast
October 12, 2005
We continue to update the BizPlanHelp.com Alpha site. Last week we added the first few categories and links to Business Strategy Resources that we find valuable to the entrepreneur. These resources are available in the Links Section of BizPlanHelp.com. The first three categories are:
- General Startup - Resources that cover Business Plans as well as other topics important for startups and SMB's like Biz Plan Help.
- Business Plan Help - Sites with resources to help entrepreneurs create business plans.
- Business Plan Samples - Sites with sample Business Plans.
We are also accepting site recommendations from our readers. To recommend a site send an email to links@bizplanhelp.com with "Recommend a Site" in the subject area. In the email include the URL, Site Name, Brief Description, and Topic Area. If your site does not fall under a current topic area, but you feel it is a good resource for Startups and SMB's, suggest the new topic area in the email.
Also, the first episode of BizPlanHelp.com’s Podcast, Small and Medium Business (SMB) Strategy Cast was published today. The SMB Strategy Cast covers business strategy topics that pertain to startup, small, and medium businesses. Each episode will be limited to 10 minutes and cover one topic. The first few episodes will cover the Business Plan for startups as well as seasoned companies.
The first episode can be downloaded in the Interactive section of BizPlanHelp.com, http://www.bizplanhelp.com/interactive.htm. We are in the process of creating a weblog with an XML feed that will include show notes and links, so if you use an aggregator for retrieving your Podcasts like iPodder (www.ipodder.org), you will be able to subscribe. For feedback, comments, or questions, email us at podcast@bizplanhelp.com.
Monday, September 19, 2005
Network by eBay; The Inexpensive IT Solution
Manhattan, NY, September 19, 2005 – Eagle Strategy Group continues to add to the Biz Plan Help alpha website (www.bizplanhelp.com). Even though the site is under development, it is open to the public and the latest content is a new articles Network by eBay; The Inexpensive IT Solution. The article endorses the use of eBay and other auction sites as well as sites that specialize in refurbished equipment as an inexpensive source for Information Technology (IT) gear. Here is an excerpt:
I have told the story of building a company around information technology (IT) systems purchased at eBay to many startup and small business clients and always get a disbelieving response. But, the fact is I worked on a team that started a company in 2003 and all the information technology was purchased on eBay or similar auction sites as well as sites that handle refurbished equipment with the exception being a few desktop PC’s and software. I purchased the desktop PC’s new because it is so inexpensive to get new desktops with on site service and more horsepower than is needed in a business PC.
The company was a Consumer Electronics Startup that was selling products to national music store chains as well as big box electronics stores and mass merchants. So, in addition to having PC’s on a network with Internet access, the information technology systems needed to support accounting, inventory control, manufacturing, and Electronic Data Interchange (EDI) transactions. I did have an advantage that made this approach possible in that I could build the system over a 4 week period, which gave me the time I needed for the auction sites. Read More.
Manhattan, NY, September 19, 2005 – Eagle Strategy Group continues to add to the Biz Plan Help alpha website (www.bizplanhelp.com). Even though the site is under development, it is open to the public and the latest content is a new articles Network by eBay; The Inexpensive IT Solution. The article endorses the use of eBay and other auction sites as well as sites that specialize in refurbished equipment as an inexpensive source for Information Technology (IT) gear. Here is an excerpt:
I have told the story of building a company around information technology (IT) systems purchased at eBay to many startup and small business clients and always get a disbelieving response. But, the fact is I worked on a team that started a company in 2003 and all the information technology was purchased on eBay or similar auction sites as well as sites that handle refurbished equipment with the exception being a few desktop PC’s and software. I purchased the desktop PC’s new because it is so inexpensive to get new desktops with on site service and more horsepower than is needed in a business PC.
The company was a Consumer Electronics Startup that was selling products to national music store chains as well as big box electronics stores and mass merchants. So, in addition to having PC’s on a network with Internet access, the information technology systems needed to support accounting, inventory control, manufacturing, and Electronic Data Interchange (EDI) transactions. I did have an advantage that made this approach possible in that I could build the system over a 4 week period, which gave me the time I needed for the auction sites. Read More.
Saturday, September 03, 2005
IT’S NOT A STARTUP; IT’S A JUMP START – PART 3: HOW TO GET STARTED
By Steve Mooar
Manhattan, NY, September 2, 2005 – This article covers what an entrepreneur should do to get started on a Jump Start strategy. It is Part 3 of a 5 part strategy series on the Jump Start. If you missed the Introduction or first 2 parts of the series, they can be viewed at www.bizplanhelp.com/blog/blog.html. Part 4: Financing the Acquisition will cover ways to seek and obtain funding.
Business Plan
Despite the entrepreneur’s intention of utilizing one of the Jump Start strategies outlined in Part 2 of this series, Advantages of a Jump Start Over a Startup, you still need a business plan. Even if you are going to make the acquisition with cash out of your pocket and run the business yourself without help, a business plan is a great way to get organized. The exercise of creating the plan often shows areas of angst that would not have otherwise been apparent. I am a strong advocate for every business having a business plan and regularly updating the business plan.
Jump Start Hint: Download a free Business Plan Outline to get you started.
Identifying Targets
Whenever I am writing or lecturing about mergers and acquisitions (M&A), I refer to the company being acquired as the target or acquisition target. So, with the business plan complete it is time to identify your acquisition targets. Review your venture and make a list of the characteristics in an acquisition target that would fit your new venture. When developing the list put the characteristics in order from most important to least important.
Jump Start Hint: For a few clients I have worked with them to develop a list that includes a weighted point system, where the more important characteristics get more points. When looking at targets assign the points and you have another way to help make a decision.
If the new venture is a restaurant then here are some of the items that me be on your list:
- Location – a specific town or busy road in a town
- Real Estate – owned or leased?
- Fixtures – bar, waiting area, properly equipped kitchen
- Existing Amenities – Outdoor seating if you are in a warm area.
- Size – number of people it holds and size of parking lot
- Genre – what type of food is served at current location
In Part 2 of this series a few different approaches were introduces to utilize the Jump Start strategy. Let the characteristic list drive the approach, not the other way around. This way you do not limit your characteristic list to items that match the approach, because you may find after completing your list that there is a better approach. Returning back to the restaurant, before creating the list one might think the best Jump Start approach is to buy an existing restaurant in the same genre as an ongoing entity; however, after viewing the list one sees that Location and Real Estate are the most important characteristics. Genre is last on this list and the target being open is not even a factor, so this entrepreneur is looking to purchase assets.
Finding Targets
Locating targets that meet the list can be a very daunting task for anyone, even if they have merger and acquisition experience. There is good news, the Internet has made searching for business for sale as easy as finding a best selling book. There are web sites that allow users to search for business for sale by industry, location, selling price, revenue, and other criteria. Some examples are:
- BizQuest – http://www.bizquest.com/ – is a free site that allows users to search by keyword, location, industry, and industry segment. The site will also help you find a business broker as well as save a search and have an email sent daily with new listings that meet your criteria.
- International Business Brokers Association, Inc. (IBBA) – http://www.ibba.org/ – is a site that allows users to search for businesses for sale and business brokers.
- BizBuySell – http://www.bizbuysell.com/ – has the same search functionality as the other two sites, but also includes franchise search and search by type of sales such as asset sale, startup, and real estate sale.
Jump Start Hint: Don’t forget general search sites when looking for acquisition targets. Use the advanced search options in Google (http://www.google.com/) and Yahoo (http://www.yahoo.com/) or any other Internet search tool that you are comfortable with.
Two of the sites mentioned above have business broker search options. Working with a broker to guide you through the acquisition process is a good option. Your best bet is to select a broker located in the area you want to open your business and/or a broker with experience in your ventures industry. They will have already worked on projects like yours and will also have knowledge of what business are for sales. Like anyone you are going to work with, meet the broker and make sure that you are comfortable working with them. Do some legwork like you would for hiring an employee and ask for a resume and references. Many brokers also have web sites, which will allow you to do some research.
Another way of finding targets is people networking. Hiring a broker gives you a leg up since a good broker is already networked in the local business community. But other sources are trade shows, chamber of commerce, banks that specialize in small business, business trade groups and other business groups. The car leasing company that I mentioned in Part 2 of this series found out about the car rental business target from a loan officer at a bank.
There is also nothing wrong with cold calling. If you see a business you like at a trade show, on the internet, or driving down the street, then call and find out who the owner is and ask if their business is available. Being political and polite will leave the owner flattered about your interest even if they are not interested in selling. They could also become an ally to guide you through the industry or know of others interested in selling. I have been involved with a few transactions where the target was approached at a trade show and although not looking to sell ended up taking advantage of the situation for the exit opportunity.
Conclusion
Using a Jump Start strategy does not mean you do not have to get organized. Do your homework and put together a business plan and then create a prioritized list of what you are looking for in an acquisition target. If you are not comfortable with doing your own leg work to find acquisition targets, then use the Internet and/or find a business broker. Finally, don’t settle, look at a lot of different companies even if you do not come to terms with a target, you learn something with each meeting.
About the Author
Steve Mooar has over 10 years experience in Operations and Information Technology and has worked on numerous Startup and M&A projects. He is the president of Eagle Strategy Group, which provides Strategy Consulting Services to small and medium sized businesses. Eagle specializes in developing strategic solutions in Operations, Information Technology (IT), Startup, and Merger and Acquisitions (M&A), as well as provides interim management support. For more information go to www.eaglestrategygroup.com.
By Steve Mooar
Manhattan, NY, September 2, 2005 – This article covers what an entrepreneur should do to get started on a Jump Start strategy. It is Part 3 of a 5 part strategy series on the Jump Start. If you missed the Introduction or first 2 parts of the series, they can be viewed at www.bizplanhelp.com/blog/blog.html. Part 4: Financing the Acquisition will cover ways to seek and obtain funding.
Business Plan
Despite the entrepreneur’s intention of utilizing one of the Jump Start strategies outlined in Part 2 of this series, Advantages of a Jump Start Over a Startup, you still need a business plan. Even if you are going to make the acquisition with cash out of your pocket and run the business yourself without help, a business plan is a great way to get organized. The exercise of creating the plan often shows areas of angst that would not have otherwise been apparent. I am a strong advocate for every business having a business plan and regularly updating the business plan.
Jump Start Hint: Download a free Business Plan Outline to get you started.
Identifying Targets
Whenever I am writing or lecturing about mergers and acquisitions (M&A), I refer to the company being acquired as the target or acquisition target. So, with the business plan complete it is time to identify your acquisition targets. Review your venture and make a list of the characteristics in an acquisition target that would fit your new venture. When developing the list put the characteristics in order from most important to least important.
Jump Start Hint: For a few clients I have worked with them to develop a list that includes a weighted point system, where the more important characteristics get more points. When looking at targets assign the points and you have another way to help make a decision.
If the new venture is a restaurant then here are some of the items that me be on your list:
- Location – a specific town or busy road in a town
- Real Estate – owned or leased?
- Fixtures – bar, waiting area, properly equipped kitchen
- Existing Amenities – Outdoor seating if you are in a warm area.
- Size – number of people it holds and size of parking lot
- Genre – what type of food is served at current location
In Part 2 of this series a few different approaches were introduces to utilize the Jump Start strategy. Let the characteristic list drive the approach, not the other way around. This way you do not limit your characteristic list to items that match the approach, because you may find after completing your list that there is a better approach. Returning back to the restaurant, before creating the list one might think the best Jump Start approach is to buy an existing restaurant in the same genre as an ongoing entity; however, after viewing the list one sees that Location and Real Estate are the most important characteristics. Genre is last on this list and the target being open is not even a factor, so this entrepreneur is looking to purchase assets.
Finding Targets
Locating targets that meet the list can be a very daunting task for anyone, even if they have merger and acquisition experience. There is good news, the Internet has made searching for business for sale as easy as finding a best selling book. There are web sites that allow users to search for business for sale by industry, location, selling price, revenue, and other criteria. Some examples are:
- BizQuest – http://www.bizquest.com/ – is a free site that allows users to search by keyword, location, industry, and industry segment. The site will also help you find a business broker as well as save a search and have an email sent daily with new listings that meet your criteria.
- International Business Brokers Association, Inc. (IBBA) – http://www.ibba.org/ – is a site that allows users to search for businesses for sale and business brokers.
- BizBuySell – http://www.bizbuysell.com/ – has the same search functionality as the other two sites, but also includes franchise search and search by type of sales such as asset sale, startup, and real estate sale.
Jump Start Hint: Don’t forget general search sites when looking for acquisition targets. Use the advanced search options in Google (http://www.google.com/) and Yahoo (http://www.yahoo.com/) or any other Internet search tool that you are comfortable with.
Two of the sites mentioned above have business broker search options. Working with a broker to guide you through the acquisition process is a good option. Your best bet is to select a broker located in the area you want to open your business and/or a broker with experience in your ventures industry. They will have already worked on projects like yours and will also have knowledge of what business are for sales. Like anyone you are going to work with, meet the broker and make sure that you are comfortable working with them. Do some legwork like you would for hiring an employee and ask for a resume and references. Many brokers also have web sites, which will allow you to do some research.
Another way of finding targets is people networking. Hiring a broker gives you a leg up since a good broker is already networked in the local business community. But other sources are trade shows, chamber of commerce, banks that specialize in small business, business trade groups and other business groups. The car leasing company that I mentioned in Part 2 of this series found out about the car rental business target from a loan officer at a bank.
There is also nothing wrong with cold calling. If you see a business you like at a trade show, on the internet, or driving down the street, then call and find out who the owner is and ask if their business is available. Being political and polite will leave the owner flattered about your interest even if they are not interested in selling. They could also become an ally to guide you through the industry or know of others interested in selling. I have been involved with a few transactions where the target was approached at a trade show and although not looking to sell ended up taking advantage of the situation for the exit opportunity.
Conclusion
Using a Jump Start strategy does not mean you do not have to get organized. Do your homework and put together a business plan and then create a prioritized list of what you are looking for in an acquisition target. If you are not comfortable with doing your own leg work to find acquisition targets, then use the Internet and/or find a business broker. Finally, don’t settle, look at a lot of different companies even if you do not come to terms with a target, you learn something with each meeting.
About the Author
Steve Mooar has over 10 years experience in Operations and Information Technology and has worked on numerous Startup and M&A projects. He is the president of Eagle Strategy Group, which provides Strategy Consulting Services to small and medium sized businesses. Eagle specializes in developing strategic solutions in Operations, Information Technology (IT), Startup, and Merger and Acquisitions (M&A), as well as provides interim management support. For more information go to www.eaglestrategygroup.com.
Subscribe to:
Posts (Atom)
