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Why You Should Purchase Handmade Jewelry

Many of us own jewelry that we have received as gifts or purchased ourselves, but this may not include any handmade jewelry. If you’re tired of buying mass-produced jewelry, adding some handmade jewelry pieces to your collection offers many benefits. Here are some of the reasons why purchasing handmade jewelry is a good idea. 

Support talented artisans

Artisan handmade jewelry is often made with great care. Automatic machines aren’t used to speed up the process. Instead, a few tools help artisans to handcraft pieces using their hands to bring their ideas to life. 

Supporting their creativity helps these talented jewelry makers to continue their work. Most of them create their pieces because they are passionate about their art. They often don’t receive the amount of financial compensation they should relative to the amount of hours they put in. 

However, they still need to earn a living and if enough people buy their work, they are able to support their families and continue to do what they do best. You are supporting a new economic model that allows hardworking, creative artisans to do the work they love. 

Own more unique, creative items

Handcrafting items means that every piece is different. You don’t have to worry about showing up for a social event to find someone else wearing exactly the same necklace and earrings as you. 

You can choose a piece that expresses your lifestyle and personality best and know that you are the only person in the world wearing it. You are able to choose from intricate designs that are difficult to mass-produce and truly show artisanship. 

Many small-scale handmade jewelry makers live in far-flung locations and online platforms have given them the opportunity to share the techniques of their homeland and their unique designs. Each piece tells a story and holds a message. 

Choose quality items that last

Jewelry makers put a great deal of attention and care into a tiny piece of handmade jewelry. Contrast this with artificially produced items produced mechanically in a factory where the focus is on volume. Handmade jewelry is often better constructed with more care than factory-produced items. 

Jewelry makers may take much longer to produce a piece, but the attention to detail is worth the wait. Time is a precious resource and knowing that a piece has taken time to create can make it more meaningful. 

Experience better customer service

When you buy handmade products and something goes wrong with them, you can almost guarantee that sellers will want to fix them. They don’t want their reputation to suffer and many of them rely on customer satisfaction and excellent reviews to sell their products. 

They may also be willing to make custom items to your specifications. You can ask a designer to include something unique to you, whether it is a birthstone or an engraving. 

Contribute to sustainability

Artisans know where their materials come from and would rather use those that are ethically sourced. Their jewelry isn’t made with machines and so less electricity is used and they usually only employ a couple of people to help them, so there are no bad work ethics either (apart from probably working late nights at times!) 

Whether you’re buying a gift or something special for yourself, choosing handmade is the best way to go if you want a piece that’s unique, beautiful, durable and more sustainable. 

You know who made the piece, where they made it and that in doing so, they put their heart and soul into it. Remember that you’re buying a piece that will be an investment for you but will also support a bigger cause. 

Tips For Staying Healthy While Travelling

Travel can either be one of life’s most abundant experiences. The differences in the worlds’ collection of cultures need to be seen to be truly appreciated. With that being said, it is hard to take it all in if one finds themselves sick. Staying healthy while traveling is important, and the average traveler can greatly reduce their risk of falling ill by falling several basic principles.

Sleep: When moving your body into an environment home to billions of foreign microbes and bacteria is going to need some time to adjust. For it to adjust properly it needs proper rest. Getting proper sleep the nights leading up to one’s trip can greatly reduce the risk of falling ill when arriving in a foreign destination.

Hold Off On The Street Food: Street can be very good, and at times some of the most authentic food one will experience in many countries. That being said, letting your gut adapt to the changes over a few days before hitting the street foot carts is a good bet. Many people fall ill going for the cheap local food the moment they land.

Stay Hydrated: People tend to consume more alcohol when traveling and pay less attention to their dietary intake in general. Dehydration has many levels and one may not even notice they are dehydrated, but your body does. Its ability to defend and repair itself against foreign invaders is impaired. 

Plant Heavy Diet: When concerned about the sanitary conditions of an area it is always much safer to go with the plant option over the meat. Even as a precautionary measure for the first few days as your body adjusts to the new environment. One is far less likely to become ill from vegetables than they are from poorly kept or cooked meat.

Walk When Possible: We all know exercise is good for one’s immune system. That being said, the likelihood that was will find themselves exercising while traveling is low. So walking where one can is the next best thing to help keep the immune system healthy.

Sleep In Private Rooms: In tropical or Equatorial climates many bad viruses are spread via mosquitoes. Many travelers elect to sleep in dormitory-style accommodations to save money. While it is economically much more friendly the likelihood of being bitten by a virus-carrying mosquito is much higher.

Bring Appropriate Attire: It is important to dress for the environment one is going into. Eco-tourism has become a major industry over the last 15 years and any hiking endeavor should be undertaken with the same level of planning a sit would at home. At the very least men’s and women’s boots should be purchased at home.

Practice Excellent Hygiene At Airport: It is very easy to get sick at the airport. Depending on the airport in question, it can see millions of passengers every day. Most people who catch a cold or virus do it by touching an infected surface than rubbing their eyes or touching their mouths. Paying close attention to avoid touching one’s eyes and mouth and as well as being diligent with handwashing is a good way to avoid getting sick.

Learning How To Use Bitcoin

You’re in an office meeting listening to your coworkers talk about cryptocurrency. The problem is, you have no idea what any of them are talking about. Sure, you heard about bitcoin in 2017, everyone was talking about it. 

However, it’s a few years later, and now everyone seems to be talking about the cryptocurrency again. Maybe it’s time you took a better look at bitcoin? Here are the basics of what you need to know about dealing with the premier cryptocurrency.

Step 1 – Downloading Your Bitcoin Wallet

When you want to start your cryptocurrency portfolio, you’ll need to download a wallet. No, we’re not talking about the leather wallet in your back pocket. A digital wallet stores your cryptocurrency, similar to the way your wallet saves your cash. 

However, crypto wallets rely on a digital private key to allow you to send and receive BTC. Your wallet has a unique address, which is your identifying number, sort of like your bank account. You get both “hot wallets” and “cold wallets.” 

Hot wallets are the wallets you use on platforms like Coinbase, and cold wallets are storage vehicles like USB devices that store your BTC offline. Choosing the best Bitcoin wallet requires some research, but there are a few good options, and we like the Nano Ledger X for cold storage.

Step 2 – Learning to Trade with Your Wallet 

After you download your wallet or purchase your offline cold storage wallet, you’re ready to send and receive bitcoin. Remember to back-up your wallet’s private keys. If you ever lose your cold storage wallet, you’ll need them to retrieve your bitcoins. 

There are a variety of ways to purchase bitcoin online. Localbitcoins.com has plenty of sellers. Simply click on a vendor, EFT them money from your bank account, and they release your bitcoin from escrow to your wallet.

Receiving bitcoin doesn’t require any action from your side. However, selling bitcoin is a different story altogether. That’s not to say that it’s not a relatively straightforward process to master.

Copy the recipient’s bitcoin wallet address, or scan their QR code. Navigate to the “send” tab, and enter the receivers address into the recipient box. Enter the amount you want to send, as well as the wallet address, and hit send. 

With bitcoin, you can send money anywhere in the world, without going through your bank. Save money on foreign transaction fees and forex rates.

Step 3 – Using Bitcoin ATMs

Now that you understand how to send and receive bitcoins electronically using your phone or computer, let’s look at bitcoin ATMs. Bitcoin ATMs are operating in most states and numerous locations in countries all over the world. With a bitcoin ATM, you can send money anywhere in the world.

Some bitcoin ATMs also allow you to withdraw your BTC in USD. However, these ATMs might ask you for information like your phone number or Social Security number, depending on where you are in the world. 

In Closing – Keep Learning

As bitcoin continues to gain market cap and market share in the financial system, those in the know will reap the rewards. Stay plugged into the crypto space, and stay on top of all breaking developments.

How to Outsource Your Order Fulfillment

Is it a good idea to outsource your order fulfillment? Finding the right partner to trust with your fulfillment is a challenge facing many e-commerce entrepreneurs. Most e-commerce businesses start your garage or living room, and it takes a while before you transition to finding a need for warehousing and fulfillment services. 

Studying the aspects of fulfillment centers and services depends on your target market and what you’re selling. There are pros and cons involved in accessing different markets and choosing the right fulfillment center to handle the job. 

Fulfillment centers allow you to remove yourself from a large portion of the business, giving you time to focus on other strategies to grow revenue. You also decrease your shipping costs with fulfillment centers, bringing down the costs for your customers. 

With a fulfillment center, you have experts handling your warehousing, packing, shipping, and even your customer returns. However, not all fulfillment centers follow the same pricing model. There could be extensive charges on warehousing your goods if you’re selling large products. 

Let’s unpack how to outsource your order fulfillment. 

Options for Outsourcing Your Shipping

There are three options available to you that can help you manage your shipping. 

Dropshipping – Using dropshipping companies, you don’t have to worry about the hassles of renting warehouse space or packing and shipping your orders. The drop shipper takes care of everything for you, including providing your customer with a tracking number on their delivery.

Warehouse Renting – Ecommerce warehousing allows you to store your products in centralized warehouses across the country, and the world. You can use shipping software programs to manage your inventory and customer returns from anywhere in the world with an internet connection.

3PL Companies – These third-party logistics companies manage your entire supply chain, from receiving and processing order to warehousing, packing, and shipping your products to your customers. 3PL is the most expensive option of the three, but it offers you the best value for your money when managing your customer fulfillment.

Tips for Selecting the right Service Provider for Your Ecommerce Business

When selecting the right 3PL partner for your business, you need to spend some time shopping around and comparing pricing between fulfillment centers. During your research, it’s best if you focus on the following services and features of your 3PL service providers offering.

Understanding Your Business Needs – Contact your 3PL providers and ask them about how they handle their processes. Fulfillment centers need to model your customer experience, or your customers will take their business elsewhere.

Develop a Costing Model – As mentioned, a 3PL solution is the most expensive, but the best value. Shop around for quotations from 3PL providers before settling on your shortlist. Remember, the lowest cost does not always equal the best value.

Handling Product Returns – Your fulfillment center should have a  strategy and process for handling customer returns. The process should involve contacting you directly with the customer’s concerns and contact information, as well as their order number. 

Handling returns is possibly the trickiest part of managing your relationship with your fulfillment center. Make sure you choose a partner that meets your requirements. In most cases, you can manage the customer returns process if you make arrangements with the 3PL provider.

Final Thoughts

In today’s e-commerce marketplace, outsourcing your fulfillment is standard practice. If you want to reduce your shipping times to your customer, optimize your supply chain, and boost your company’s profits, you need to work with a fulfillment center.

Fulfillment centers may add another line item to your annual expense reports. However, the value they bring to your online business is irreplaceable.

13 Tricks for Better Travel This Upcoming Holiday Season

The December holiday is around the corner. And after that, the ushering in of a New Year and new decade. Who wouldn’t want a holiday to celebrate the year and the decade that has been?

But before you pack your bags, we figured out that a few tips could help make your holiday season even more fun. We have summarized a few tips that will be of great use wherever you plan on going to celebrate your holiday. 

Research, according to the American Automobile Association states that between mid-December and early January, an estimated 1.9 million Americans travel by car and 4.7 million by air. But that’s not the surprising part. Of those numbers, 20% arrived late, more than 5,000 flights canceled, and over 1.2 million had issues on the road. You don’t want to be part of these numbers. Here are 13 tricks for better travel.

1. Travel Early

Delays happen likely in the afternoon between 3 pm and 9 pm. It could be due to heavy weather and other travel logistics that might prove inevitable.

So, why not schedule your flight early. You might have to wake up at 4 am if you don’t want your flight canceled. 

2. Buy Travel Insurance

A medical emergency, God forbid, can wipe out your savings. Sometimes even worse. It’s recommended that you buy travel insurance to have them cover you during these times.

3. Choose Your Airport Carefully

Some airports have a terrible reputation when it comes to cancellations and delays. Most are either secondary airports in major markets, are on the east coast, which is prone to turbulent weather or is a primary destination for east coast airports.

On the other side, airports on the west coast don’t get much affected. So if you are planning on flying this winter, do consider this fact.

4. Contact Airline

You don’t want to arrive at the airport to find your flight canceled due to bad weather. Contact your airline before arriving. It may save you some time. 

Note that you are checking with your airline, not the airport, for the most up to date flight information. They could also offer you relaxed change fees for those traveling to and from affected cities and some trip cancellation insurance.

5. Don’t Wrap Gifts Yet

Planning on giving gifts? But don’t wrap them yet. TSA may need to unwrap and inspect them when need arise. So, the best thing to do is ship them or cover them once you get there

6. Carefully Choose Your Destination

Why spend more to have the same experience year after year? How about adding more value to your travel experience by letting your destination choose you?

You never know, sometimes flying to Europe can be cheaper than flying to Florida. Don’t let the Spur-of-the-moment deals pass you. They are common during the holidays. 

Start your search at Google flight for your preferred departure airport, and they will spoil you with choices for the best airfare deals.

7. Check Your Passport

You might want to expedite your passport renewal if yours is about to expire. Some destinations require a passport valid for at least six months from your home return date.

8. Travel Safe on Road

The winter season can be very rough on the road. You have to be careful when driving. Cut speeds by a third on wet roads and a half on snow-packed highways

9. Take the Warnings Seriously

You might see a winter storm warning on your way to your destination. But that doesn’t mean you lock doors and barricade yourself inside. It means you might have to change the way you will approach your destination.

Being careful and aware of the vehicles around you on the road for one. Avoid having a cell phone in front of you is another precaution in a winter storm. And also setting up your GPS.

10. Prepare Your Car

You don’t want auto issues when traveling. Make sure your car is ready. Keep your tires inflated, your wiper blades, brakes, and battery up to par.

A gallon of anti-freeze may prove to be of help along the way. And if you are in a state where studded snow tires are accepted, then, by all means.

And of course, enough gas.

11. Pack a Survival Kit

A winter emergency kit should definitely come in handy. Don’t overthink; fill a bag with anything you might need in case you get stranded. And that ranges anything from food to medications and extra batteries. Pick what would be most important to you during that time.

12. Inform People, Banks, and Credit Card Company of Your Travel Plans

Tell someone where you are going and the route you are going to take. And when you are stuck, get your exact GPS location and call 911, then your family member. Have them contact the authorities when they don’t hear from you.

Also, informing your Credit Card Company or bank is a great idea, so they don’t put your card on hold.

13. Don’t Be Afraid To Turn Back

If it gets too bad and when driving and you have the opportunity to turn back, do it. Pulling over is also an excellent option.

Knowing the Right Time to Get Your Aging Parents Help

Age-related health changes are natural – hearing and eyesight start failing, joints become stiff, cognitive processing slows down, muscles lose mass and bones lose density.

Small changes may not affect your aging parents’ ability to live on their own but when combined, they can make it harder to clean the house, carry groceries or cook. Sometimes one major health issue can jeopardize independence. The onus is often on you to recognize when your parents need help.

The fix for a particular problem, such as failing eyesight or hearing, may be as simple as getting a new pair of eyeglasses or a hearing aid. In other cases, a combination of issues may make getting daily help necessary.

There are a number of companies, like Tandem Careplanning, that can assist with the best in-home care. Caregivers are carefully selected and will perform activities, such as assisting with medication, doing shopping, preparing meals and cleaning.

Red flags to look out for

Memory loss: Forgetting an appointment or where a car is parked every once in a while can happen to anyone. If the problem becomes chronic, it could indicate a cognitive decline.

Loose clothing: This could be a sign that a parent isn’t eating properly. You will need to establish whether this is due to a medical condition, not being able to shop for groceries or simply forgetting to eat.

Spoiled food in the fridge: This could indicate a problem with a sense of smell, a visual problem or mild cognitive impairment.

A car that’s dented or has missing side mirrors: Having trouble driving could simply be due to physical difficulties, such as turning the neck or it could be due to cognition.

Not wanting to travel: Your mom may tell you that she doesn’t drive at night anymore or go to church. She may not come to see you because driving is just too hard for her.

Withdrawal from activities: Withdrawal could be for various reasons, such as hearing difficulties or memory issues.

A dirty house: If the level of tidiness changes, it could be due to loss of physical strength, poor memory or poor vision.

Unkempt appearance: Poor hygiene is often a sign of cognitive problems. Parents may forget to comb their hair or wash. Looking unkempt can also be due to physical difficulties, such as battling to do up buttons etc.

Unexplained bruising: Bruising is usually a sign that a fall has taken place – this may be due to balance and mobility issues.

Unpaid bills: Loss of executive function from cognitive changes will limit the ability to function as an independent adult.

Not taking medication: If medication is not being taken, this could be due to memory problems.

When you recognize even one or two of the above symptoms, it is time to get help. Talking to parents about issues like bodily cleanliness may be very difficult but it is better to have those conversations on a regular basis than saving it all up for one serious conversation. Ask what you can do to help in the course of a normal conversation.

If more than one of the above red flags is evident, you need to think about getting daily help in the form of in-home care. If just about every red flag is evident, you need to take action sooner rather than later.

If you ignore the problem or you’re in denial because your parents insist that they’re fine, you could end up with a real crisis on your hands. Being proactive and facing the reality of the situation can help you to avoid an emergency situation. 

5 Things to Remember as We Enter the Holiday Season

As the holiday season approaches, our excitement reaches a fever pitch, and we enter it with great enthusiasm. There are so many things to look forward to, including sumptuous meals, the exchanging of gifts, and quality time spent with our nearest and dearest.

However, the holiday season can also become a time of chaos as we seem to run from one holiday into another. Sometimes, we might forget the things about the holidays that are the most important.

Here’s how to approach the upcoming holidays with clarity and mindfulness:

1. Remember the reason for the season

The holidays have become very commercialized, and their true meaning has been lost along the way. People become so wrapped up in the materialism of it all that they forget about what the holidays are all about.

A time that should be about fun and quality becomes a competition. Who can buy the most expensive gifts? Who does a better job of decorating their home for Halloween? Which family has the most heavily laden Thanksgiving dinner table?

These things are not what you should be focused on. It’s what you do and not what you buy that makes the great holiday memories you’ll talk about for years to come.

2. Don’t let your finances get on top of you

Not only is the holiday season a busy time, but it’s an expensive time as well. It’s hard not to spend more than you’ve planned to when the stores are full of goodies to buy. In an ideal world, you would have been budgeting for the holidays right from the beginning of the year. However, the reality is that this is seldom possible.

Asses your short term loan requirement before the onset of the holidays. If you can see that your budget isn’t going to stretch as far as you’d like it to, find out about a loan. You can repay it once things are back on track in January.

3. Don’t overschedule

Making the holiday season a whirlwind of commitments and social engagements will leave you exhausted at the end. You’ll enter the new year feeling like you haven’t had a break at all. The point of it all is to spend quality time with the people you love. Rushing from one activity to another won’t accomplish this.

As the holidays approach, you’ll receive a flurry of invitations to events. You might even be planning one of your own. Don’t feel pressurized to accept all the invites. Instead, choose the ones that are priorities to you and your family.

4. Unplug

Smartphones, computers, tablets, and television are big distractions. They prevent people from spending time together as a family. It’s hard to go around the table and talk about what you’re grateful for when your kids are engrossed in their social media accounts.

Set some ground rules before the holiday season starts. Part of your mission should be to get everyone in your home to unplug and spend time away from their devices. Plan family activities that will fill the gap, such as games evenings.

5. It’s about you too

Your focus during the holidays is probably on everyone except yourself. You’re making Halloween costumes for the kids, cooking up a storm for Thanksgiving, and shopping for a long list of Christmas gifts. It’s easy to forget to enjoy the season and all its wonders.

Make time to unwind and relax during the holidays, and don’t forget to spoil yourself a little bit too. Give everyone in your home a list of chores to do while they’re at home, so that it doesn’t all become your responsibility. 

How to do Holiday Shopping on a Limited Budget

The holiday season is a special time of the year but also one of the most expensive. This can be a very stressful time when you need to find gifts, but you’re on a limited budget. Even with all the sales, it is easy to spend too much money because you so badly want to spoil your loved ones. 

It’s hard to remember that it is not so much about what you give them as the thought that goes into it. Here are some ways to buy holiday gifts if you’re on a limited budget. 

Compare prices online and find discounts

Large retailers often have sales and if you’re looking for items like games or clothes, check out sites like Overstock or Amazon. If you want to buy experiential gifts, look at prices on a site like Groupon. 

Taking advantage of discounts offered online can really help to reduce the amount you spend on gifts, especially large ones. You may need money now to take advantage of a great discount. 

Create a strict budget and stick to it

Make a list of the people you need to buy gifts for, and then decide how much to spend on each one. You probably won’t want to spend as much on some people as on others and that’s okay. 

If you decide to order a gift online, make sure the amount you spend includes shipping and taxes as these additional costs can mount up. Look out for “free shipping day” when major retailers don’t charge for shipping. 

The sooner you set a price limit for each person on your list, the easier it becomes to decide what to get them. 

Shopping without knowing how much you want to spend on someone makes you more apt to overspend. Remember that everything from display placements to lighting and music at this time of the year is designed to entice you to spend. 

Start shopping early

One of the best ways to save money on holiday gifts is to start early. Spreading your shopping out means your budget doesn’t have to take the hit all at once. 

Allocate a reasonable monthly amount for holiday shopping and you won’t exceed your budget. Start shopping well in advance and you can avoid the increased prices in the holiday season due to high demand. 

Use ideas from Pinterest to make your own gifts

Going DIY can really help you to save on gifts and the recipients will appreciate the time you took to make something for them. Jewelry, pottery, sweet treats, candles and soap are all memorable gifts that don’t take that much money to make. 

On Pinterest, you will come across ideas that help to elevate your homemade gift to something special – like putting a homemade candle in an old china teacup you find at a thrift store. 

Choose the right time to buy specific gifts

There is a time when certain gifts will be less expensive. For example, the best time to buy candy for stocking fillers is right after Halloween. Here is a guide that will help you to find the best buys for each month of the year. There are always periods where demand is lower for certain items and you can pick them up for less. 

Do something different with your partner

It doesn’t make sense for you and your partner to buy expensive gifts for one another if you’re both on a budget and trying to save. Propose saving the money you would have spent instead of buying something you really need for your home or for a special holiday. 

What Is Financial Infertility?

Financial infertility is when you are unable to pay for the IVF treatment you need. You may think this only applies to those who need expensive treatments, like IVF, but can also apply to those who could succeed on a $50 prescription of Clomid.

Why give financial infertility its own term?

Because sadly, it’s the number one obstacle that keeps couples from getting help or treatment.

Costs like…

  • Seeing their primary care doctor or obstetrician. Sometimes from a lack of health insurance.
  • Getting fertility testing done. Some fertility tests aren’t covered by insurance, and others have large deductibles. Proper treatment can’t start until basic tests are finished.
  • Fertility clinic consultation and testing. This is where many couples need to drop out of pursuing treatment.
  • Surgical treatments: They can cost in the thousands, and may or may not be covered by health insurance.
  • Fertility drugs. Clomid may be about $50 (or less for generic), but treatment with injectable gonadotropins can cost several hundred to even thousands of dollars. One study found that the average out-of-pocket expenses for couples treated with medication only is about $900. That doesn’t include whatever testing and basic treatments might have come before.
  • IUI and IVF treatment: Costs for more advanced fertility treatments like these range from $3,000 to as high as $15,000 per cycle.
  • Advanced assisted reproductive technologies: Treatment beyond “basic” IVF raises the costs even more. Couples who need an egg donor may pay as high as $30,000 a cycle. Surrogacy can cost anywhere from $50,000 to 100,000.   

Needing to save up money can push off treatments. If the couple is over age 35, the delay may decrease their odds of successful treatment.

A lack of funds can also make adoption difficult to impossible. There’s a misconception that couples who can’t afford treatment should “just adopt”, but adoption isn’t cost free.  

What If I Can’t Afford Testing or Treatments?

If funds are low, don’t assume you can’t afford treatment. Remember that the majority of fertility patients can be treated with the lower costs options.

Assuming you have the money to see your OB/GYN or primary care physician, do at least that first. Your infertility may be solved less expensively than you think.

Also, the problem may be caused by an undiagnosed health issue that you can treat. Treat the underlying cause, and you may not need fertility treatment.

Another thing to try is to boost your health as much as possible. Eat better, lose or gain weight, start exercising, get better sleep.

For some couples with infertility, these steps won’t make any difference. But, for others, it may just be able to tip the fertility scale in their favor. It’s worth trying.

Dos and Don’ts When Selling a Business

Selling a business is a huge decision. It’s one that you probably took months to come to, and that will have a huge impact on your lifestyle moving forward, not to mention those of your staff and employees.

With that said, once you’ve made the decision, there is still a lot of thinking to be done. Making sure that your business sale goes well is a matter of ensuring to take certain steps, while at the same time avoiding some common mistakes. Here are the top dos and don’ts to keep in mind once you begin.

DO: Tell your staff once the transaction is confirmed

Keeping staff in the dark, or trying to dress up the truth is a mistake. While you might think that your priority should be to keep your team calm, the real priority is to respect the years they’ve worked for you by giving them the information they need to plan ahead. They will respect you more for it, and the end result will be a smoother transition for everyone involved.

DON’T: Announce that you are looking to sell right away

That said, there is no need to announce your intention to sell as soon as you get the idea. This can cause undue panic, can cause ripples in the market you operate in, and can ultimately undermine the value of your business before you’ve even begun!

DO: Consider the different variables involved in your transaction

Selling a business can mean a lot of things. It can mean selling everything you’ve built wholesale, but it could also mean selling your brand and trademarks while hanging onto your clients list. Consider all your options!

DON’T: Stick to one form of valuation

There are lots of different ways to value a business. Understanding this can help you to land at a better (but still fair) price for your business.

DO: Negotiate

Negotiating the best price can make a huge difference to your eventually profits. Don’t just accept the first offer – let your business broker do their job!

There are many techniques that can help you to win a negotiation. These include things like “priming” and “anchoring” which can help to get the buyer in the right frame of mind to buy. 

DON’T: Be blinded by your personal stake in the matter

Keep in mind that you are very close to the situation and likely value your business far more than another person would. Keep this in mind and don’t come in with unrealistic expectations.

Likewise, remember that a good negotiation should be focussed on finding a satisfactory compromise that everyone is happy with. This is another reason to consider using a broker who is more detached from the situation and thus able to offer a more realistic value.

Keep in mind that the objective of any good negotiation is to find a compromise. You want both parties to come away happy. The aim is not to “trick” anyone into buying your business for more than it is worth!

DO: Get help

Using business broker firms can help you to sell your business for more. Using accountants can help you to better get your accounts in order. Using legal advisors can help you to navigate the sometimes complicated process of selling a business from a legal standpoint. In short, using professionals makes your life easier, and results in a better sale!

DON’T: Rush!

Selling your business can take time. If you are in a rush, then you will risk making mistakes and potentially selling for less. So take it slow and try to enjoy the last days running your business.