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The Value of Your Business As It Relates to Angel Investors

One of the most important things to understand when you are potentially going to work with an angel investor is the value of your business. If you are already in operation, then determining the value of your business is a much easier process due to the fact that a professional appraiser can come in and review your financial documentation. Once an appraisal is complete then a potential funding source can easily understand the value that they are purchasing when they make an investment into your company. If you have not yet started your operations then determining the value of your business is a complicated process. This is primarily due to the fact that all of your financial statements, which should be in your business plan, are going to be forward looking. As such, a potential angel investor is going to need to determine whether or not the financial results that you are predicting for your new business is accurate and reliable.

If you are not yet in operation, and you need to determine the value of your planned business venture, then we strongly recommend that you work with a certified public accountant that can attest to the forward looking financial model that will be in your business plan and other documentation that you will be providing to an angel investor. The attestation of your certified public accountant will assist with assuring a potential third party funding source that your business has the capability to earn the profits and generate the cash flows that are outlined with your financial model. On a side note, your CPA can always work closely with you and an angel investor to assist you in determining the best deal possible as it relates to having an equity injection placed with your business.

As an alternative to this method, you can always hire a private placement brokerage firm that can greatly assist you in producing the necessary documentation while concurrently introducing you to potential outside funding sources. However, this process in conjunction with the use of a private placement firm is extremely expensive. Additionally, you will need to pay extremely high fees as it relates to having business documentation produced and certified. In many instances, a private placement brokerage firm will also charge a fee equal to 8% to 10% of the total amount of capital that they raise on your behalf.

As such, it is extremely important to determine the value and equity of your business before you approach any type of outside private funding source. You may be very surprised to find that the value of your business is much higher than expected, and as such, you may not be required to sell as much of your company as you thought to an angel investor.

Google Places Reviews: How to Get Them for Your Business

Google Places is a service offered by Google that lets business owners create a free listing. It is virtual real estate for business owners. Customers find local businesses easily and business owners get the word out about the products and services they offer. Customers visit the businesses listing and then write about their experiences. Customer reviews are important because they drive more business. Follow this step-by-step guide to get Google Places reviews for your business.

Step #1: Enhance Your Google Places Listing

Google Places lists most local businesses by default, without the business owner’s input. However, it is possible to improve your listing by adding a more descriptive explanation. It is worthwhile to enhance your business profile. Add more than just the basic elements provided by Google, and you are more likely to get Google Places reviews. Take the time to add more categories, photos, videos, and add any additional information you feel is relevant to your business. More information about your business invites customers to interact with your listing. As a result, more customers are compelled to write a review.

Step #2: Give the Customer Something

Now that you have enhanced your business listing, drive the customer towards writing Google Places reviews. Offer them something! Create coupons that appear right on your business listing. Google Places even gives you the ability to create mobile coupons. This is perfect for customers who are on the go looking for a listing. This is a great way to share discounts or special offers with potential customers. It is as easy as creating the coupon and adding it to your listing.

Step #3: Actively Promote Reviews on the GO

Google Places reviews are even easier to get now that Google has a new application called Hotpot. Customers can write reviews before they even leave your business! Hotpot is accessed directly through your smart phone. It finds local businesses that are close to the mobile device. There is also the option of sending personalized emails to your customers who have Google email accounts in a profile. Send a link to the Google Places review page and thank them for taking the time to write a few nice words.

Step #4: Ask Your Best Existing Customers to Write a Review for You

This is actually a very easy, straightforward solution to getting Google Places reviews. Ask for help from the customers who tell you how pleased they are with your business. Most people who receive great service are happy to write glowing reviews. They just need to be asked. After all, when people find good deals, bargains, exceptional service, etc., they love to tell others about it. Just make sure you provide easy instructions for them to follow when navigating Google Places looking to write a review.

Reviews are a great way to promote your business. Enhance your listing by adding more detail about the services you offer, provide coupons or deals to get customers interested in your business, take advantage of mobile technology by getting reviews from the phone and ask your best customers to write reviews for you. Following these steps will help you get the most out of Google. Don’t wait! Google Places reviews are an easy and necessary way for you to build your customer base.