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Green Industry is Still Evolving
Michael Shonka, owner of Solar Heat & Electric (Omaha, NE), provides insight into renewal energy opportunities in Nebraska. Tax credits are available to help homeowners and businesses install solar panels, etc. to reduce electric consumption. (Check with the IRS to verify that these tax credits are still available). In Nebraska, space and water heating are the two largest needs which can be met by a solar-electric system. Like most states, Nebraskans now have net-metering which allows entities to sell electricity to and buy from the electrical grid. Wind energy is still evolving for urban use but does work well for rural areas. Technology is still evolving for the ethanol and methane industry. The challenges are applicability and financing. (http://www.solaromaha.com) View Video
Produce Measurement Regulations at Farmers’ Markets
Steve Malone, Administrator of the Nebraska Department of Agriculture Weights and Measures Division, shares the “how-to” on correctly packaging produce for a farmers’ market. If selling products by weight, the producer must have an authorized scale. Contact the Department of Ag for approved scales. Two options for selling produce: (1) sell from bulk, no packaging required. Customers select the product they want which is then weighed and priced according to the weight. (2) pre-packaged by weight. The packaging must have a label or placard that states the quality and price. Only one method can be selected for each product sold. For more information contact 402.471.4292 or http://www.agr.ne.gov/division/wam/wam.htm. A University of Nebraska publication on Weights and Measures is also available here. View Video
Art, Design and Business
Sally Buss, owner of Sally Buss Sculpture and Art (Heartwell, NE), is a creative person who specializes in transforming mundane farm implements into treasured works of art. Art, like innovation, is an experiment that requires flexibility in the original plan. Flexible planning is also required when owning an artisan business. Sally developed a business plan to help guide her and keep her finances on track. Having went through the NebraskaEDGE business training, Sally developed greater confidence in how she was managing her business operations. (http://www.sculpturesbysally.com) View Video
Nebraska Business Development Center Overview
NBDC is a hidden treasure to many Nebraska business owners according to Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney. NBDC is a one-stop shop for new, expanding and exiting business owners. Most services are free and include services such as loan packaging, premium market research, and business planning. Fee-based premium services include business valuations, manufacturing efficiency, and exit strategies. Read more
Exit Planning – Purchasing Options
Are you looking to sell or buy a business? Even though the buyer may not have the 20% down payment, there are options available to get the deal done. Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney details an exit planning strategy that allows buyers to get into the business. Valuation experts look at the value of the business and the cash flow it produces. They also conduct an appraisal to determine the fair market value of the business. The objective is to get the buyer a 30 – 40% ownership in the company quickly. Ownership is then discounted and used as leverage to finance the remaining amount of the business. 2 of 3 exit planning videos. (http://www.nbdcunk.com)View Video
Exit Planning – Selling Strategies
Prepare for the end game and get the most out of your business investment. Odee Ingersoll, Director of the Nebraska Business Development Center at the University of Nebraska at Kearney, encourages business owners to prepare their exit strategy. This will increase their business value, help them find potential buyers and make a quicker sell. About three years out, owners need to develop internal processes that show potential buyers and lenders the value of the business. The goal is to strategically sell the business at the highest value rather than letting the general market determine the value of the business. 1 of 3 videos. (http://www.nbdcunk.com)View Video
Applying the Cooperative Business Model
Jim Crandall, Program Coordinator of the Nebraska Cooperative Development Center, (http://ncdc.unl.edu) University of Nebraska-Lincoln details the services provided by NCDC: formation discussions, feasibility studies, board of directors training, building membership, and marketing the products. As a cooperative boardof directors one does have legal responsibility to the membership to create a successful business. The cooperative business model can be powerful if done correctly. Contact Nebraska Cooperative Development Center (http://ncdc.unl.edu) . View Video
Understanding the Cooperative Business Model
Be a price maker through the Cooperative Business model. Jim Crandall, Program Coordinator of the Nebraska Cooperative Development Center, University of Nebraska-Lincoln (http://ncdc.unl.edu), showcases the Cooperative model and how it works as a business structure or marketing association. An advantage is the cooperative’s ability to access larger markets by aggregating products and increasing price through volume. Individual investments are financial as well as time and talents. There are 26 similar organizations across the United States. Contact Nebraska Cooperative Development Center (http://ncdc.unl.edu) View Video
Insights into How to Effectively Exit Your Business
Nicholas Niemann, Attorney at Law from McGrath North (hyperlink http://www.mcgrathnorth.com) highlights a few mistakes that business owners do when preparing for their business exit. Chris Best, Business Appraiser and owner of Best Business Appraisals, LLC (hyperlink: http://www.bestbusinessappraisels.com) highlights some critical issues to business valuation, such the different exit channels. Another key to successful exit planning is finding the correct professional. Nicholas and Chris make suggestions on what to look for in a professional. McGrath North (http://www.mcgrathnorth.com) and Best Business Appraisals (http://www.bestbusinessappraisals.com). View Video
Steps to Business Exiting and Valuations
Two guests, Nicholas Niemann, Attorney at Law from McGrath North (hyperlink http://www.mcgrathnorth.com) and Chris Best, Business Appraiser and owner of Best Business Appraisals, LLC (hyperlink: http://www.bestbusinessappraisels.com) discuss options for selling and valuing a business prior to exiting the business. Nicholas outlines a five-step process to plan for the transition. Chris provides insight into the different considerations on how a business may be valued. McGrath North (http://www.mcgrathnorth.com) and Best Business Appraisals (http://www.bestbusinessappraisals.com). View Video
