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How to buy and sell a business for capital wealth
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| SBC JANUARY 2006 CLUB MEETING |
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Our January
meeting was held in the Sheerwater Community Centre
near Woking. The evening began with a networking
session hosted by Paul Cawthorne
who took as his theme the 'four R's of networking - Relationships,
Referrals, References and Reputation. Members
not attending the early session were able to relax in
the Centre's bar while waiting for the buffet, which was
not considered too much of a hardship! |
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After
the buffet we enjoyed a ten-minute slot from new Club
member Jan Ledger, outlining her Travel
Counsellors service
This award-winning nationwide network of over 500 counsellors
is backed up by a team of 100 travel professionals in
the company's head office.
Jan offers friendly personal advice and highly competitive
prices for all your business and leisure travel arrangements
and holidays, and welcomes comparison with high street
chains and the internet.
For more details visit Jan on the web at www.travelcounsellors.com/jan.ledger
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Our guest presenter for the evening was professional speaker
and business mentor Alex McMillan, founder
of ClubEntrepreneur (www.clubentrepreneur.co.uk
). Alex set out the six principal routes to wealth available
to the aspiring millionaire entrepreneur, and gave us
a brief analysis of the advantages and drawbacks of each.
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The most common option
is setting up as a self-employed specialist in your chosen
field - a familiar scenario among the audience, and possibly
the least appealing for Alex. It involves years of effort
and long hours to build your business (tell us about it!)
and after all that it often pays you less well than a
job working for somebody else. This doesn't make it a
good bet if wealth is your goal. |
After a brief overview of the other business models: Creative
Innovation, Group Start-up, Network Marketing, and Franchising,
Alex went into some detail on the most often overlooked
route to business wealth: Buying and Selling Businesses.
He explained you don't have to be Richard Branson to profit
substantially from this method. Many of the principals
are similar to buying and selling property, with which
we are all relatively familiar, and Alex talked us through
it in some detail, explaining just how it all works, and
what the rewards can be. |
Alex also spent some
time helping us to assess our own business style profile,
to discover whether we are motivated by Systems, Money,
Innovation, Lifestyle Goals or Empire-Building (the Bill
Gates gambit!) - for most people it's usually a mix of
more than one of these.
All in all, Alex delivered a stimulating and enlightening
look at the world of the business owner, demonstrating
he certainly knows his stuff, and invited us to contact
him with any further questions via his website. Many of
the tips and techniques revealed raised a few eyebrows,
as the penny (or should that be the million pound note?)
dropped that we may all be missing a trick or two if we
want to retire wealthy! Naturally, there was much discussion
of these and other topics, when the Beverage Circle adjourned
to the Centre's spacious bar, where a jovial darts match
was in progress. Unfortunately, we left before it ended
so we can't tell you who won! |
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Click on these thumbnails in this gallery of photographs
taken by club photographer and member Peter Searight of The
Remarkable Studio.
Peter can provide prints from high-resolution originals if
anyone would like them - contact Peter on 01428 725520 or
via his website,
www.theremarkablestudio.com.
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