Take Care of Physical Assets Before Putting Business for Sale

No body wants to sell a business that he has nurtured with his time, money and hard work. However, many times, business owners are forced to sell their business due to certain unavoidable circumstances of financial issues. The even worse part is that the process of selling a business can sometimes be very difficult. The first difficulty you come across before putting your business for sale is evaluation of its fair value.There is so much preparation to do before putting a business for sale that it is often hard to decide the starting point. Preparing a list of tangible assets and classifying the ones that can be included in the sale can be a good place to start.Among the tangible assets, real estate being the most important physical property usually needs the maximum attention. In addition to real estate, other major tangible assets, include vehicles, office equipments, operating equipments, and inventories. All of these assets may or may not exist in every business, but making a clear list of assets for sale will make things transparent between you and the buyer. Buyer will also get a clear idea about the things he is getting in return of his investment.Real estate, office building, and land are usually the most important parts of any business. The location of business plays a major role in deciding the value of any business and therefore you can choose to treat real estate as a part of the business or can sell it as a completely independent entity. You may also choose to sell only the business while keeping the office premises under your control. In such cases, the buyer has the option to move the business to a new location.Having all the office equipments in a proper working condition means the business needs no immediate investments in terms of infrastructure. This brings in a positive response for your business. Equipments that need upgrades and maintenance should be taken care of before putting your business for sale. If everything looks nice at the first appearance, it will definitely add value to your business.Calculating the value of inventories is also an inseparable part of any business. It is advisable to divide the inventories on the basis of their current state – raw materials, half-made products, and finished products. It is better to keep away goods that are damaged or expired.Sorting out the tangible assets before you put your business for sale also helps you avoid any sort of discrepancies in the future. It will also help you identify what remains with you after the selling process is over. At the same time, it gives the buyer an idea about what he is getting in return of his hard-earned money.

Automotive Advertising Agencies Don’t Know What They Don’t Know But Social Media Has The Answers

Automotive advertising agencies are being asked to deliver more for less by a consolidating auto industry in response to reduced sales volume, profit margins and automotive advertising budgets. The solution, as is often the case, lies in the leveraged use of technology applied to a constant in the auto industry — change. Another constant that can be found in the auto industry is human nature. These two constants, change and human nature, power the explosive growth of the use of social media by automotive advertising agencies. Unfortunately, the change is happening at warp speed on the Internet Super Highway and agencies don’t know what they don’t know when it comes to new technologies and applications being developed to monetize social media.Attempts to provide a presence for automobile dealers on social networking sites like Facebook, MySpace and Twitter fall short for the same reasons that these online communities of friends are so successful with consumers. People hate car dealers and they often turn to advice from like minded consumers on social networking sites to get away from them. Automotive advertising agencies that impose on these personal conversations with self serving sales messages are often ostracized and even virally attacked as an intruder. The potential damage to the online reputation of their auto dealer clients represents a risk to reward formula that has forced many agencies to abandon social media as a viable channel to deliver a retail sales or service message.Fortunately, the same social media that teaches consumers how to buy a vehicle can provide automobile dealers with the information and the tools that they need to sell them one. Social networking portals developed by advertising professionals, automotive vendors and auto dealers allow their members to share best practices with the common philosophy that a rising tide floats all boats. Each online community boasts its own personality and rules of the road to keep members in their lane. The temptation to sell to each other is controlled by the same social pressures that exist on consumer facing social networks for those that forget why they are there — to listen and learn so they can presume to teach their auto dealers how they can sell cars and service to their online friends.In addition to sharing best practices, many automotive advertising agencies use social media to discover new technologies and vendor applications that have not yet been discovered by the mainstream auto industry. Recent discoveries that I can contribute to my searches on social media include an automated video production platform that produces scalable interactive videos from pictures using human voice to narrate them that are placed on the auto dealer’s website and pushed through a dedicated API with YouTube onto the world wide web. An equally revolutionary discovery was a consumer centric inventory marketing platforms that offers auto dealers free listings and free leads with the ability to purchase real time market analytics and social networking profiles that empower the salesperson to answer the customer’s questions even before they ask them. Each of these vendor applications were introduced to the market through automotive advertising social networking communities that enabled them to listen and learn from their members about how they can improve their products and services before they introduced them to the general market. My access to these automotive advertising solutions was only possible as a result of the time I invested on social media looking for them so that I could stay one step ahead of the competition.Online blog talk radio stations hosted on automotive advertising networking portals provide a another social media forum for finding and reviewing new automotive advertising solutions. Regularly scheduled blog talk radio shows with live interviews of the developers of bleeding edge automotive advertising applications allow their online audience to ask vendors questions in an open forum. These open exchanges of ideas in a problem solution format help the vendors as much as the automotive advertising decision makers that follow the shows. A new mobile sales presentation platform with an integrated training component was recently discussed on a blog talk radio show to solicit feedback from the audience. Their insights were used to modify the platform before the vendor began their beta test it in the real world saving thousands of wasted dollars and man hours that would normally be required to mature their application.The opportunity for automotive advertising agencies and auto dealers to listen, learn and contribute to social networking communities allows them to discover what they don’t know while allowing them the opportunity to share what they do know. Auto dealers are people too/ The same efficiencies and extended resources that attract consumers to social media to research their next vehicle purchase is sourced by automotive advertising agencies who need to stay one step ahead of the competition in a consolidating auto industry that demands more for less. Automotive advertising agencies don’t know what they don’t know but they can definitely find out on auto industry focused social media. After all, what are friends for!

Automotive Rapid Prototyping Fail First Paradox

New product development and innovation is much more difficult and time consuming than most other business activities. Automotive rapid prototyping greatly enhances learning speed and reduces the risk of new automotive parts development.Historically, the automotive industry has been using rapid prototyping as an important tool in the automotive parts design process. The extremely fast-paced automotive design cycles require an extremely fast prototyping system which can produce car parts fast and inexpensively.The main objective of automotive prototyping is to learn quickly: how a new automotive product behaves in its natural working environment, before transferring the prototype to the production line. Many times, mistakes are learned only after a new automotive part is launched. This is the main explanation for poor automotive parts design, from product mismatch, poor engineering and function or finish, and overpriced production. In order to accelerate the learning curve, before these costly automotive prototyping mistakes are made, one must accelerate and facilitate feedback loops from tests in the lab and market trials.Automotive Manufacturing TechnologiesWorking with an assortment of rapid prototyping equipment, automotive prototyping engineers utilize the most advanced 3D printers, in their quest for perfect form, function and utility. Working in advanced manufacturing centers, the automotive engineers use the technology to verify what they are doing, and, equally important, to save tremendous amounts of time, and money.Automotive Rapid Prototyping Compresses Development TimeThe advantages of 3D rapid prototyping model creation versus viewing a cad/cam model on a computer screen is palpable. Automotive parts engineers get together discuss the pros and cons of a rapidly produced automotive parts model and discuss the pros and cons of the design, as they pass it around, twisting and viewing the prototype, and decide if that is what they had in mind. This way, problems get solved up front, before going to the assembly line! Once determined that the automotive prototype design is a go, the model can then be sent to a die maker.Automotive Prototyping and the Die Maker ProcessThe die maker cannot use model to make the die, but because they have it in their hand and can look at it and feel it, they can determine where the parting lines will be and exactly how much steel they will need to produce it. The timing of the die process is greatly compressed.Examples of Automotive Rapid Prototyping Parts· Engine castings and parts· Car Engine parts· Auto Mechanical parts· Car Dashboards· Car Handles and Knobs· Auto Body Components· Car Trim partsFail first Paradox in Automotive Rapid PrototypingThe automotive rapid prototyping paradox is to fail earlier rather than later. By failing earlier, the design engineers surprisingly succeed in accelerating the project; this greatly reduces development cost risk. By considering all automotive prototype failures as learning experiments, the engineer has much less stress, knowing that they are practicing the old adage, that success comes from ninety-nine percent failure and introspection.