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	<title>Magnusson Balfour Commercial and Business Brokers</title>
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	<link>http://www.balfourcommercial.com/blog</link>
	<description>Guiding Business, Advising People, Moving Property</description>
	<lastBuildDate>Fri, 11 May 2012 18:22:16 +0000</lastBuildDate>
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		<title>Looking For a Job?</title>
		<link>http://www.balfourcommercial.com/blog/2012/looking-for-a-job/</link>
		<comments>http://www.balfourcommercial.com/blog/2012/looking-for-a-job/#comments</comments>
		<pubDate>Fri, 11 May 2012 18:09:27 +0000</pubDate>
		<dc:creator>iBec Creative</dc:creator>
				<category><![CDATA[Newsletter Archives]]></category>
		<category><![CDATA[buyer]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/2012/looking-for-a-job/</guid>
		<description><![CDATA[Are you in the market for a job? Perhaps in a rut day to day in an unfulfilling situation? Perhaps recently unemployed? Sick of office politics? Wondering why you work so hard to make someone else a profit? Have skills that aren’t being used? Whatever the reason, you might want to consider being your own boss. Take charge or your life and destiny! Acquire a going business!]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Accounting: Doing it well is a necessary evil!</title>
		<link>http://www.balfourcommercial.com/blog/2012/accounting-doing-it-well-is-a-necessary-evil/</link>
		<comments>http://www.balfourcommercial.com/blog/2012/accounting-doing-it-well-is-a-necessary-evil/#comments</comments>
		<pubDate>Fri, 27 Jan 2012 17:48:28 +0000</pubDate>
		<dc:creator>iBec Creative</dc:creator>
				<category><![CDATA[Blog News]]></category>
		<category><![CDATA[accounting]]></category>
		<category><![CDATA[bookkeeping]]></category>
		<category><![CDATA[cash flow]]></category>
		<category><![CDATA[entrepreneur]]></category>
		<category><![CDATA[financial reports]]></category>
		<category><![CDATA[financials]]></category>
		<category><![CDATA[financing]]></category>
		<category><![CDATA[income]]></category>
		<category><![CDATA[owner compensation]]></category>
		<category><![CDATA[profit & loss]]></category>
		<category><![CDATA[reports]]></category>
		<category><![CDATA[schedule C]]></category>
		<category><![CDATA[small business]]></category>
		<category><![CDATA[tax returns]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=116</guid>
		<description><![CDATA[When business people and entrepreneurs get into business they want to build a better mouse trap, deliver better service, serve better food, follow a passion.  Keeping the books accurate and up to date is last on the list of priorities given all the other demands and interests.  In fact they might not have the time or skills to do it themselves.  

In addition to following their dreams, business people and entrepreneurs want to build something of value to hopefully be able to cash it in down the road for all the blood, sweat, tears, and risk they put into it.  Business owners please heed this advice: good timely, accurate accounting is critical to that achievement! I repeat: good timely, accurate accounting is critical to that achievement!

The good news is with today’s software, community education and/or plenty of available bookkeepers this is a doable task.  It can be done in-house or outsourced at reasonable rates.  These reports are not only useful for down the road when you want to sell, but in the interim it’s critical for bank financing and as a useful management tool.

I’m going to outline some of the bookkeeping approaches I’ve seen.  Each progressively gets better, but my advice is NOT to move one step up at a time as I outline below, but to start as close to the ideal as possible. 
]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>It&#8217;s lonely at the top&#8230; and at the bottom too.</title>
		<link>http://www.balfourcommercial.com/blog/2011/its-lonely-at-the-top-and-at-the-bottom-too/</link>
		<comments>http://www.balfourcommercial.com/blog/2011/its-lonely-at-the-top-and-at-the-bottom-too/#comments</comments>
		<pubDate>Thu, 17 Mar 2011 13:29:31 +0000</pubDate>
		<dc:creator>alexandra</dc:creator>
				<category><![CDATA[Events]]></category>
		<category><![CDATA[consultants]]></category>
		<category><![CDATA[estimates]]></category>
		<category><![CDATA[financial management]]></category>
		<category><![CDATA[human resources]]></category>
		<category><![CDATA[in the trenches]]></category>
		<category><![CDATA[industry groups]]></category>
		<category><![CDATA[local]]></category>
		<category><![CDATA[Maine]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[meeting]]></category>
		<category><![CDATA[overwhelmed]]></category>
		<category><![CDATA[peers]]></category>
		<category><![CDATA[production]]></category>
		<category><![CDATA[regulatory compliance]]></category>
		<category><![CDATA[research & development]]></category>
		<category><![CDATA[sales]]></category>
		<category><![CDATA[scheduling]]></category>
		<category><![CDATA[small business]]></category>
		<category><![CDATA[Small Business Round Table]]></category>
		<category><![CDATA[sounding board]]></category>
		<category><![CDATA[strategic thinking]]></category>
		<category><![CDATA[vendor relations]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=102</guid>
		<description><![CDATA[In small business, the owner often handles many functions.  One of those functions is Chief Executive Officer.  But unlike with large corporations, a small business owner doesn’t have a board of directors, shareholders, executive committees, department heads, consultants, researchers and an abundance of other minions at their beck and call. In small business, the owner [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>So you have a buyer for your business&#8230; Now what?</title>
		<link>http://www.balfourcommercial.com/blog/2011/so-you-have-a-buyer-for-your-business-now-what/</link>
		<comments>http://www.balfourcommercial.com/blog/2011/so-you-have-a-buyer-for-your-business-now-what/#comments</comments>
		<pubDate>Tue, 08 Mar 2011 17:34:08 +0000</pubDate>
		<dc:creator>alexandra</dc:creator>
				<category><![CDATA[Business Brokerage]]></category>
		<category><![CDATA[business broker]]></category>
		<category><![CDATA[business buyer]]></category>
		<category><![CDATA[closer]]></category>
		<category><![CDATA[confidentiality]]></category>
		<category><![CDATA[contingencies]]></category>
		<category><![CDATA[deposit]]></category>
		<category><![CDATA[due diligence]]></category>
		<category><![CDATA[earnest money]]></category>
		<category><![CDATA[effective]]></category>
		<category><![CDATA[financing]]></category>
		<category><![CDATA[incorporation]]></category>
		<category><![CDATA[inspection]]></category>
		<category><![CDATA[legal review]]></category>
		<category><![CDATA[loan package]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[non-compete]]></category>
		<category><![CDATA[now what]]></category>
		<category><![CDATA[purchase and sale]]></category>
		<category><![CDATA[review]]></category>
		<category><![CDATA[training]]></category>
		<category><![CDATA[transition]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=97</guid>
		<description><![CDATA[Let’s assume the buyer is now committed to buying your business. They are financially capable, understand the risks and rewards, and have found your business suits their background, skills, needs and goals. Or perhaps you are a buyer looking for a business. What is the process from this point on? The parties have shared information, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Marketing A Business: You have to kiss a lot of frogs.</title>
		<link>http://www.balfourcommercial.com/blog/2011/marketing-a-business-you-have-to-kiss-a-lot-of-frogs/</link>
		<comments>http://www.balfourcommercial.com/blog/2011/marketing-a-business-you-have-to-kiss-a-lot-of-frogs/#comments</comments>
		<pubDate>Thu, 03 Mar 2011 14:17:25 +0000</pubDate>
		<dc:creator>alexandra</dc:creator>
				<category><![CDATA[Business Brokerage]]></category>
		<category><![CDATA[be prepared]]></category>
		<category><![CDATA[brochure]]></category>
		<category><![CDATA[business broker]]></category>
		<category><![CDATA[cold calling]]></category>
		<category><![CDATA[confidentiality]]></category>
		<category><![CDATA[craigslist]]></category>
		<category><![CDATA[delicate information]]></category>
		<category><![CDATA[direct mailing]]></category>
		<category><![CDATA[financing]]></category>
		<category><![CDATA[financing options]]></category>
		<category><![CDATA[generic]]></category>
		<category><![CDATA[inquiries]]></category>
		<category><![CDATA[kissing frogs]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[networking]]></category>
		<category><![CDATA[newspapers]]></category>
		<category><![CDATA[prequalified]]></category>
		<category><![CDATA[selling a business]]></category>
		<category><![CDATA[tax returns]]></category>
		<category><![CDATA[trade publications]]></category>
		<category><![CDATA[training & transition]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=90</guid>
		<description><![CDATA[Marketing a business is tricky.  You have to strike the balance of letting people know the business is for sale, and maintaining confidentiality.   This week, I’ll talk about marketing and finding that right buyer.  Next week, I’ll cover the equally important aspect of getting the business to close. The first thing to do is to [...]]]></description>
		<wfw:commentRss>http://www.balfourcommercial.com/blog/2011/marketing-a-business-you-have-to-kiss-a-lot-of-frogs/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Business Pricing Strategy: Getting the price just right.</title>
		<link>http://www.balfourcommercial.com/blog/2011/business-pricing-strategy-getting-the-price-just-right/</link>
		<comments>http://www.balfourcommercial.com/blog/2011/business-pricing-strategy-getting-the-price-just-right/#comments</comments>
		<pubDate>Thu, 24 Feb 2011 15:16:32 +0000</pubDate>
		<dc:creator>alexandra</dc:creator>
				<category><![CDATA[Blog News]]></category>
		<category><![CDATA[Business Brokerage]]></category>
		<category><![CDATA[business brokers]]></category>
		<category><![CDATA[buyers]]></category>
		<category><![CDATA[exit strategy]]></category>
		<category><![CDATA[goldilocks]]></category>
		<category><![CDATA[goodwill]]></category>
		<category><![CDATA[just right]]></category>
		<category><![CDATA[loan packaging]]></category>
		<category><![CDATA[low offer]]></category>
		<category><![CDATA[negotiation room]]></category>
		<category><![CDATA[on the market]]></category>
		<category><![CDATA[pricing]]></category>
		<category><![CDATA[pricing strategy]]></category>
		<category><![CDATA[sellers]]></category>
		<category><![CDATA[selling a business]]></category>
		<category><![CDATA[testing the market]]></category>
		<category><![CDATA[three bears]]></category>
		<category><![CDATA[valuation]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=81</guid>
		<description><![CDATA[Like they said it best in the Goldilocks and the Three Bears: Not too hot, not too cold, just right.  To maximize return, today’s business owners should take the same advice when pricing their businesses… Not too high, not too low, just right. Not too high:  Many sellers try to price their business too high.  [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Anatomy of a Business Sale- By the Numbers</title>
		<link>http://www.balfourcommercial.com/blog/2010/anatomy-of-a-business-sale-by-the-numbers/</link>
		<comments>http://www.balfourcommercial.com/blog/2010/anatomy-of-a-business-sale-by-the-numbers/#comments</comments>
		<pubDate>Tue, 12 Oct 2010 16:55:32 +0000</pubDate>
		<dc:creator>alexandra</dc:creator>
				<category><![CDATA[Business Brokerage]]></category>
		<category><![CDATA[advertising]]></category>
		<category><![CDATA[business brokers]]></category>
		<category><![CDATA[buyer]]></category>
		<category><![CDATA[buying a business]]></category>
		<category><![CDATA[closing]]></category>
		<category><![CDATA[confidentiality]]></category>
		<category><![CDATA[contract]]></category>
		<category><![CDATA[financials]]></category>
		<category><![CDATA[financing]]></category>
		<category><![CDATA[industry experts]]></category>
		<category><![CDATA[listing agreement]]></category>
		<category><![CDATA[marketing]]></category>
		<category><![CDATA[offers]]></category>
		<category><![CDATA[Scott Balfour]]></category>
		<category><![CDATA[seller]]></category>
		<category><![CDATA[selling a business]]></category>

		<guid isPermaLink="false">http://www.balfourcommercial.com/blog/?p=72</guid>
		<description><![CDATA[I just closed a deal that in many ways was typical.  As such, I thought I’d answer a question I often get:  “What exactly do business brokers do?” A seller walked into the office and mentioned he might want to sell his business. We discussed the business and collected data including financials, equipment list, marketing [...]]]></description>
		<wfw:commentRss>http://www.balfourcommercial.com/blog/2010/anatomy-of-a-business-sale-by-the-numbers/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>A Tax Haven For Preserving Real Estate Wealth</title>
		<link>http://www.balfourcommercial.com/blog/2010/a-tax-haven-for-preserving-real-estate-wealth/</link>
		<comments>http://www.balfourcommercial.com/blog/2010/a-tax-haven-for-preserving-real-estate-wealth/#comments</comments>
		<pubDate>Fri, 16 Apr 2010 19:07:38 +0000</pubDate>
		<dc:creator>iBec Creative</dc:creator>
				<category><![CDATA[Blog News]]></category>

		<guid isPermaLink="false">http://96.30.23.36/~balfour/blog/?p=36</guid>
		<description><![CDATA[In the summer of 1990, the I.R.S. came out with the long awaited rules on Deferred Exchanges. Section 1.1031 of the Internal Revenue Service Code laid out the procedure for turning a sale and purchase type transaction into an exchange. The 1031 tax deferred treatment of capitol gains is one of the best real estate [...]]]></description>
		<wfw:commentRss>http://www.balfourcommercial.com/blog/2010/a-tax-haven-for-preserving-real-estate-wealth/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Goodwill vs. Blue Sky</title>
		<link>http://www.balfourcommercial.com/blog/2010/goodwill-vs-blue-sky/</link>
		<comments>http://www.balfourcommercial.com/blog/2010/goodwill-vs-blue-sky/#comments</comments>
		<pubDate>Fri, 16 Apr 2010 19:06:48 +0000</pubDate>
		<dc:creator>iBec Creative</dc:creator>
				<category><![CDATA[Blog News]]></category>

		<guid isPermaLink="false">http://96.30.23.36/~balfour/blog/?p=34</guid>
		<description><![CDATA[Don’t over pay for a business! In a previous article we discussed the value of legitimate goodwill. Goodwill is a definite, measurable, valuable asset of a business . Goodwill is often the result of good systems in place, being in business for years, a good reputation, loyal customers, steady predictable sales and cash flow, records, [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Goodwill. What is it? How do you value it?</title>
		<link>http://www.balfourcommercial.com/blog/2010/goodwill-what-is-it-how-do-you-value-it/</link>
		<comments>http://www.balfourcommercial.com/blog/2010/goodwill-what-is-it-how-do-you-value-it/#comments</comments>
		<pubDate>Fri, 16 Apr 2010 19:05:45 +0000</pubDate>
		<dc:creator>iBec Creative</dc:creator>
				<category><![CDATA[Blog News]]></category>

		<guid isPermaLink="false">http://96.30.23.36/~balfour/blog/?p=32</guid>
		<description><![CDATA[Ask a banker, buyer, seller, accountant, lawyer, businessperson, or investor what goodwill is and you get some interesting answers. Some might say goodwill is the result of a business being in business for a length of time, having a good reputation, having steady customers with reliable systems and people in place. (I guess that would [...]]]></description>
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		<slash:comments>1</slash:comments>
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