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Day: October 16, 2016

Characteristics That Help With Managing Your Self Control

Self-control is among the diverse categories of personal development. It is the actual ability to inspire yourself to choose the important things in your life and restrain from our animal-like desires. Yet, the foundation of this personal development is situated in a powerful perseverance and correcting of oneself. Self-control creates a type of self-confidence within us towards things that we believe are hard to accomplish. It creates some sort of drive connected with determination within us which make us attain our desired goals.

However, it is necessary that a good amount of relaxation be obtained to adequately implement self-control in our everyday life. A person needs to find ways to de-stress themselves. It can be by simply listening to music or work out along with other things that will enhance one’s energy level. This will make it possible for the person to complete their task. For example, when there is a student who would like to finish a goal of finishing their entire study course in one day for a specific topic, then he would be studying the entire day. But, this could produce a lot of pressure for his mind and hinder his ability associated with learning. Therefore he might consider breaks in between to unwind himself, then this will decrease stress and increase efficiency.

Self-awareness will be the main factor that needs to be resolved for successful self-control. One should first examine one’s personal character and figure out the strengths and weaknesses. Next, be ready to endure the temptation that you will face in your everyday life with regards to your weakness. For instance, lets say you like candy and you are used to having it every day, you will need to make efforts to limit it to only two times a week. This is one way you can strengthen yourself and contribute to your own personal development of self-control.

So we can say that self-control is really the ability to deny one’s own temptation to a particular thing or even a task. This brings us to another part of self-control I.e. positive perseverance. Our commitment causes us to have a serious choice to accomplish a task. Most of us have the habit to make up our mind for a mission, but because of our laziness or wish for other comforts, we are not able to abide to it. The most typical example of this can be working out in the morning, which most of us usually stop simply because we don’t want to give up our sleep. Here is where many of us clearly realize the heart and soul of a solid commitment. A person having a strong commitment will give up his conveniences and create his goal.

Lastly, is the element of self-discipline. All these 3 aspects of self-control are of course interconnected. However, each of them offers a distinct role to play. Self-discipline pertains to battling with one’s personal emotions. In this, one has to uncover the real trigger associated with one’s temptation and purposely …

Business Valuation Multiples – How to Choose the Right Multiple For Your Business

Using a “Multiple of Earnings” is the most popular way to value small businesses that are for sale.

But that raises a difficult question: By what number do you multiply your earnings?

Much of what has been written about valuation multiples states that most businesses are sold with a multiple that ranges from 1-5.

But in truth, smaller businesses that sell for 4 or 5 time their earnings are rare – at least when it comes to owner-managed businesses.

In smaller businesses with an owner’s benefit of $50,000 to about $250,000, the owner will usually also manage the business on a day to day basis. The buyer is in truth “buying a job”. Their return on investment is much lower because they are investing not just there money but there time.

In larger businesses, where there is enough cash flow to hire a full time, professional manager the owner can make a return on his investment without a full time commitment – so that business will be valued at a much higher level. That’s not to say you can’t sell your business for a multiple of 4 or 5, but in my experience the vast majority of smaller businesses sell for a figure much closer to 1 to 3.

So I suggest you start with a multiple of 2.0 and use the list of factors below to adjust the multiple up and down based on your specific situation and you company’s performance.

This is just a partial list to get you started, there are bound to be unique factors that affect your business that are not listed here.

Positive Factors That Can Increase the Multiple

*Sales and profits have risen consistently each year for at least 3 years.

*A significant amount of sales come from repeat customers. Even better is revenue that comes from automatically recurring charges. Web hosting, alarm monitoring and self storage are few examples of business that may have reliable repeat revenue each month.

*Proprietary products, patents and/or trademarks.

*Exclusive rights to a territory.

*Less warranty exposure than is typical in your industry.

*Management And /or employees will stay on after the sale. The more experienced or uniquely talented these people are, the better.

*The business is a franchise of a well established – And well known – company. For many buyers, the support and training they get from the franchisor is a major plus – one they are willing to pay for.

*Your industry is growing and the future appears bright.

*Important ratios such as profit margin And cost of sales are above average for you industry.

*You are offering above average financing terms

For these last two items you should check with any trade associations that serve your industry. They may be able to provide you with facts and statistics that can help you show the buyer that your business is part of a growing industry or trend.

Negative Factors That Can Decrease the Multiple

*Sales and profits have been trending down recently.

*Sale and …