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Scott Gingold
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The Fixer
The Fixer

220 followers
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My company, +Lehigh Valley Technology , is the most award-winning Information Technology Services and Solutions company in the Lehigh Valley region. That said, winning an award is always a thrill, and never becomes routine or old. This is especially the case when you win an award 5 years in a row such as this one! We swim in a pond of pretenders and wannabees and while we are often imitated, we are never duplicated! Thank you to all who voted for us, work with us, and continue to entrust us their technology (servers, network, workstation, data backup, security, etc.) needs! If you are not already working with us, doesn’t your business deserve to work with the best? Call us today at 610-866-2828 to discuss your technology goals and needs!

#lehighvalley #allentown #bethlehem #easton #computer #computers #server
#technology #cloud #databackup #hostedexchange #offsitedatabackup #IT #MSP
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GREAT and inspiring video!
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Many people in Corporate America dream of leaving their cubicles and postage stamp size offices in favor of operating their own business. Some get their wish by choice, some through downsizing and layoffs.

What road should these corporate transplants choose: startup or purchase an existing business? According to Bloomberg, 8 out of 10 entrepreneurs who start businesses fail within the first 18 months. A whopping 80% crash and burn. So does this mean you should not build a business from the ground up? Not necessarily. Here are just three questions that you need to ask yourself.

1. Do you have enough capital to support yourself for a minimum of one year, and preferably two?
2. What is your experience with marketing, business development, customer relationship management and brand building?
3. Is your personality geared to being the “front man” (front woman) of a business venture?

Notice that I did not bring up any questions related to the business itself? That was purposeful. The simple fact of the matter is you have to make sure that you can positively answer the above questions long before we discuss your startup idea. If you are thinking about purchasing a franchise, keep in mind that while the franchisee may provide certain fundamentals, they don’t offer you the day-to-day answers for the three questions raised above.

Why should you consider buying an existing business? There are many advantages so but first consider if the business has:

1. Well-established working systems and procedures.
2. A solid roster of current customers as well as solid prospects.
3. Partnerships in place with similar but non-competing businesses to drive in leads and referrals.
4. A good reputation and goodwill within the community it serves as well as great brand recognition.
5. Qualified staff members that can and will support new ownership.
6. Some reoccurring revenue.

So if you decide that purchasing an existing business is your better move, how do you do it? Most people would turn to a business broker and that may be your best option, but I would encourage you to consider this. When a broker is involved, the price of the business is increased to offset the commission being paid to the broker. Why not go directly to the business owner? How do you do this?

If I wanted to buy an HVAC company, I would make a list of all of the HVAC companies in my area and reach out to the owners of those that appealed to me and I would pitch them on selling their business to me. Now you might be thinking, “that’s great Scott, but if their business isn’t advertised for sale, why would they sell to me?” In 30 years of entrepreneurship I have never known a business owner who did not have a number in their head in the event that a potential buyer approached them. Granted that number many not be reasonable to you, and most especially your CPA, but my point is simple, virtually every business is for sale, even family businesses.

While Corporate America has many downsides, being an entrepreneur is not for the faint of heart or those who are not fully prepared mentally, emotionally and financially. I urge you to weigh out the pros and cons of owning a start-up versus purchasing a proven existing business.

I welcome your feedback as well as your questions.
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Check out this video on YouTube:
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What's happening in Baltimore right now eerily reminds me of growing up in Plainfield, NJ in the 60's. Sad, very sad.


#gingoldpodcast #gingoldradio #gingoldconsulting
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Though today is our last broadcast originating from WGPA in #Bethlehem , #Business  101 with Scott Gingold continues to roll on!

I hope that you can join us for our 90th episode today! Our guests today include +Dorie Clark and #RobertSandoval  We will also share with you the future plans for the program.

We start at 11:05am EST and if you miss the live program, you can always listen to it via our #podcast  channels.

#gingoldpodcast   #gingoldradio   #gingoldconsulting  
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This Saturday (4/25/2015) will be my 90th, and last show originating from WGPA Radio in Bethlehem, PA. My guests include +Dorie Clark and Robert Sandoval.

I hope that you can join us for the live show, and if not, I am including a link to our #podcast  outlets including #itunes   #soundcloud   #loverino  and #stitcher  

#gingoldradio   #gingoldpodcast   #gingoldconsulting  
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#Business 101 w/ Scott Gingold Podcast From 04/11/2015 is now available. Today's guests include Jason W. Taylor of +Code Authority and Mary Angelo of +Great-R Good

#gingoldconsulting   #gingoldradio   #gingoldpodcast  
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