Call Us! 505.820.0163

 

Author: Sam Goldenberg & Associates

Home > Articles posted by Sam Goldenberg & Associates (Page 11)

Selling a business isn’t always 100% about the price.  It is not like selling a house where typically the most important factor is who places the highest offer.  In the end, if the seller is to achieve the most optimal results, there are other variables that should be considered.  The idea of selling to a competitor is one that seems attractive to many business owners.  After all, a competitor has the built-in advantage of understanding the...

17 October, 2020

Creating a positive online customer experience has been catapulted into top priority status by the pandemic. We have written lately about a recent survey-based study titled “The New Reality: Understanding the Retail Consumer Experience During a Pandemic.” In it, Wharton Marketing Professor Thomas Robertson finds “about a 10% increase in problems from before the pandemic to the middle of May, with some decrease in loyalty. As the percentage of online sales was going up, many...

13 October, 2020

It is safe to state that Howard Brownstein, President of The Brownstein Corporation, is a true expert in providing turnaround management and advisory services to companies, as well as their stakeholders.  Brownstein serves as an independent corporate board member for both publicly held as well as privately-owned companies and nonprofits.  During his career, he has been named a Board Leadership Fellow by the National Association of Corporate Directors (NACD) and served as Board Chair and...

09 October, 2020

We recently wrote about customer frustrations with online shopping experiences and the related opportunity for businesses to foster delight. In a survey-based study titled “The New Reality: Understanding the Retail Consumer Experience During a Pandemic,” Wharton Marketing Professor Thomas Robertson finds “about a 10% increase in problems from before the pandemic to the middle of May, with some decrease in loyalty. As the percentage of online sales was going up, many retailers weren’t ready for...

08 October, 2020

The Economic Development Department has a complete network of economic development experts around the state that are uniquely qualified to assist local governments and community organizations as New Mexico works toward a sustainable recovery. Economic Development Cabinet Secretary Alicia J. Keyes said the Community, Business & Rural Development program was created by the Legislature to provide the EDD with an expert assigned to each regional economic planning district. When first created, each regional representative had an office...

06 October, 2020

Keeping a product or service around that isn’t pulling its weight might prove to not be a very good idea.  You may have invested a good deal of time and resources into its development, but if that product or service is no longer contributing to your bottom line, it might be time to cut it loose.  Even if your product is pulling its weight, but doesn’t fit into your overall core business, then you should...

02 October, 2020

A recent study by Wharton’s Jay H. Baker Retailing Center and WisePlum suggests rising consumer frustration with retail as shopping shifts online. The survey-based study, “The New Reality: Understanding the Retail Consumer Experience During a Pandemic,” finds mounting customer impatience and decreased loyalty. In a Knowledge@Wharton interview, the study's co-author, Marketing Professor Thomas Robertson, says these findings are related to underprepared online shopping and loyalty program customer experience and the tech that underpins it. The Challenge We...

01 October, 2020

Once again, Teya Vitu has written a thoughtful and timely piece for Santa Fe's small business community in today's Santa Fe New Mexican.This is the year just about every business owner is wondering, how long can I last?The coronavirus drags on with no sense of when a mask-free, mass-gathering-restored normal will resume.Businesses have failed. More businesses will fail. But do businesses with a fuzzy horizon need to shut down forever?Not at all, insists...

29 September, 2020

Each franchise has its own process for qualifying and onboarding a prospective franchisee. Sometimes it's rigorous with multiple interviews, steps, forms to be filled out, and documents to be provided. Other times, it's comparatively relaxed. The degree of scrutiny a candidate undergoes largely depends on the type of business. Nonetheless, many will follow a format similar to the steps presented below. STEP #1: Initial CallDuring the first call with the franchise’s corporate representative, the buyer candidate...

25 September, 2020

Franchises are popular choice among budding entrepreneurs for a variety of reasons. Established franchises even more so. The reasons behind their appeal are numerous. Name RecognitionTopping the list is the ability to take advantage of the name recognition of brand that is already out there, known and trusted in the community. Take home healthcare, for instance. How comfortable would a prospective customer feel entrusting the care of their mother to a start-up agency without much...

25 September, 2020

This month, Albuquerque is hosting the 2020 ESHIP Summit, a gathering of "entrepreneurial ecosystem builders – leaders connecting communities together to accelerate entrepreneurship – who seek to build more inclusive, sustainable local economies." This systems approach to fostering economic vibrancy connects people, resources, and institutions to foster collaborative growth and innovation. “During the ESHIP Summit, we are featuring a round table of five ecosystem leaders from Albuquerque to tell the story of the development of the...

25 September, 2020

Major congratulations to the Santa Fean, the Essential Guide, and Kelly and Martin Haug, who acquired both publications this Spring. We are so thrilled to have facilitated the transfer of ownership of these wonderful publications! We are confident that both will continue their legacies of value for Santa Fe and Northern New Mexico and thrive under the Haugs' stewardship. The Essential Guide spotlights Northern New Mexico art, shopping, recreation, entertainment, and lifestyle options for locals...

22 September, 2020

An old saying in negotiating the sale of a business goes like this: The buyer says to the seller, “You name the price, and I get to name the terms.” Another saying used to explain the actual value of the term full price: “If we could find you a business that nets you $250,000 a year after debt service, and you could buy it for $100 down, would you really care what the full price...

18 September, 2020

Congratulations to Albuquerque small businesses! According to a recent study conducted by e-commerce company Square, Albuquerque's Main Street businesses ranked Number 1 in increased rate of e-commerce adoption following the COVID-19 outbreak. The ranking signals Albuquerque businesses' agility and grit. "We’re inspired every day by the ingenuity of small businesses in the face of a rapidly evolving environment," writes Square. "They’re pivoting business models, building online operations in days, and even selling completely new products to...

15 September, 2020

By: Elena Stewart If you run a small business, chances are you’ve been put in a very uncertain position since COVID-19 reared its ugly head. But despite the obvious and many challenges that the current situation has put forth, the fact is, there’s still more than one way to keep your business going and even thriving during this dark time and whatever will come after. Let’s take a closer look at the measures you can take. Take...

11 September, 2020