Thanks for visiting Issa Asad's Blog!
Your Code: 8675309

Tag Archives: Issa Asad Business

Issa Asad’s 3 Tips for Buying a Business

Issa Asad buying a businessEntrepreneurs have a task of starting and running a business, thus buying a business is a form of unique investment: getting into an existing business rather than starting up a new one. This form of investment is assumed to be a franchise, which is almost as significant.

Issa Asad Florida based entrepreneur, businessman, and social media expert since 1996 says there are specific things you must do in order to purchase a business. Mr. Asad is the CEO of Quadrant Holdings and Q Link Wireless, located in South Florida.

Here are Issa Asad’s 3 Tips for Buying a Business

1. It Takes Time

Building up into this kind of business attracts different, unique challenges, therefore there are a few considerations to be observed. This buying process will take a longer period since negotiations have to be done, putting into considerations the big question of why they want to sell. This company might have had a bad reputation and soured customer relations, thus one will need to review company’s books of accounts and find its executive summary. Though none of these would reveal the whole picture, it would help. By starting your own company, you only need to fill up some legal paperwork and apply for permits and licensing and you are good to go.

2. Understand the Business Niche

The buyer needs to shadow as a current owner for a while to familiarize with the company to be bought and learn its operations and point out what needs to be changed after gaining full ownership. For instance, when the prospective buyer finds out that they are overstaffed, it makes much sense to downsize and save on extra wages. Thereafter, the buyer needs to think through and make the right decisions on the big sale.

Buyers at times feel like imposters; the feeling that you do not deserve the success that’s coming your way for it feels like a fraud. This feeling can be technically inflamed by buying a business. These negative thoughts must be fought by recognizing the changes one needs to make to better the company’s operations. When buying someone else’s creation, one has to be comfortable, as you will possess and run it your own way. Owning a business comes with commitment in terms of time, money and the knowledge of what to expect throughout the process. These would make the whole process easier for the entrepreneur.

3. Do Your Research

It is vital to do a research when it comes to buying a business because an existing business has a lot more than a name and branding: clients’ lists, trained staff, goodwill, branding equipment, thus assumed to be cost friendly compared to starting up your own business, which is never the case. This should therefore take lesser time to start realizing profits, which is not the case at times. Therefore, it is advisable to do research before buying a business.

So, when buying a business one has to plan early enough to start the buying process, as it is involving, with intense procedures. Avoiding negative feeling eases the whole entrepreneurial journey, hence a feeling of content and ownership arises. Having a clear plan on changes to be made will help in shaping and reorganizing the company to the business you want it to be. Before settling for a good business you want to buy, it is wise to initiate a research to find out whether it would be cost effective to invest your money into buying the business as opposed to starting up your own.

6 Simple Reasons Why Some Businesses Fail

Issa Asad Business FailuresEntrepreneurship is not for everyone. It requires careful steps to be followed and a proper guide to consider before making up a decision to carry on with a business. There are several reasons why small businesses fail; mainly because “a business owner fails to consider what actually implies to starting a business, progressing, and maintaining it,” exclaimed Issa Asad, a Florida businessman and CEO of 2 companies located across South Florida. Mr. Asad’s businesses are Quadrant Holdings and Q Link Wireless.

A business should complete its life cycle through its phases. However, not all businesses complete their life cycles. Here are 6 simple reasons why some businesses fail.

1. Lack of Sufficient and Reserve Capital

Before drawing up a business plan, you should be having sufficient capital that you need to start a business. Take into consideration the funding that you have that will enable you finance your business. Starting a business with insufficient capital may lead to collapse of the whole project. Reserve capital is also equally necessary as the startup capital. You need to be aware that some other recurrent or even non-recurrent costs usually arise as the business continues. Reserve capital is meant to finance such costs whenever you incur them, but if there is no such capital your business is likely to fail.

2. Poor Business Plan

Drawing up a business plan is usually a first activity before anything else. You need to have an adequate business plan that will enable you to focus on the future of the business and the possible challenges that you will face. It also helps you be aware of the financial requirements, marketing strategies, your competition, and the overall strategy of the business. A poor business plan hinders you from focusing on such important factors.

3. Ineffective Marketing Strategy

You can never do business without customers. Customers differ in their taste and preferences. They need to be handled differently and this is the reason why market segmentation and market niche are very significant. A small business may fail if the marketing strategy that is put in place is not working. A good marketing strategy should cover cost involve for the advertisement and promotion of the business. Consider your means and media of advertising and promoting such as online, social media, local search, and among others.

4. Poor Execution

Lack of competence and expertise by the business team will underrate your business. Ensure you have good customer care services and well-trained personnel to handle each issue with sufficient skills and experience.

5. Inappropriate Location

The location of the business is very important and poor choice of the location causes the business not to expand. Location determines the level of competition that you will face as well the customers that you will actually reach.

6. Failing to Cope with New Changes

A business environment is changing frequently with new issues and technologies coming up. For the success of your business, you need to move with times and cope with such changes quickly and effectively.

These 4 Traits Make the Perfect Entrepreneurial Partner

Issa Asad business entrepreneurMany technologists have the notion that the terms entrepreneur and inventor have similar meaning. This makes them frustrated when they create their products and never gain any success. They lack the understanding that that most of the successful entrepreneurs such as Steve Jobs and Bill Gates had business partners who complimented their skills on the technical and business side.

Developing a successful business in the modern days is more challenging than it was in the past. In those days people like Thomas Edison were able to develop a successful business empire from several inventions. Nowadays, there is overload of online information, many regulations from the government and a lot of alternatives that are available all over the world.

The word entrepreneur has been used to refer to an individual who designs a new business, which may or may not involve invention of a product or service. In some cases, great new businesses like Starbucks are developed from some of its oldest products, but with highly improved customer service, marketing, distribution, and better pricing strategies.

Issa Asad, Florida entrepreneur since 1996 says there are 4 traits that make the perfect entrepreneurial partner. Mr. Asad is the CEO of 2 companies located across South Florida, including Q Link Wireless and Quadrant Holdings. These 4 traits make the perfect entrepreneurial partner:

1. They Concentrate on Developing a Business

Inventors spend most of their time developing products. A great entrepreneur begins by coming up with a problem that needs to be solved. For instance, the investor will consider the number of people with a problem and the amount people are ready to pay to resolve the problem, while the entrepreneur will figure out how to earn money for the product and how to implement it.

2. They Demonstrate High Passion and Marketing Skills

It is worth noting that even the best solutions require marketing. In addition, the right communication is also needed in order for the solution to get the right attention. An inventor has the attitude that if he develops something, people will get attracted to it, which leads to failure of an investment. A good entrepreneur has a passion that is spread easily to investors and customers.

3. They Are Customer Centered

An entrepreneur gives top priority to customer interaction, pricing, support, and value proposition. In building a business, it is vital to understand the most important segments and trends in the market. This is more necessary than focusing more on trends in technology.

4. They Know How to Lead a Team

Inventors tend to be lonely scientists who lack the right skills or interest to develop a team around them. An inventor might see a team as an extra burden or unnecessary to them. On the other hand, a team is very vital to an entrepreneur. Entrepreneurs understand they require a team with ample skills and find happiness in leading the team to success in attaining their set goals.