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  • Real Grief Requires Attention – Real Grief Healing Requires Attention

    Real Grief Requires Attention – Real Grief Healing Requires Attention

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    As you experienced your personal grieving key questions must be addressed: How can you overcome floating on a cloud of despair? How do you overcome your sorrow and loss? Can you overcome your sorrow on your own? Can God give you additional inspiration and strength? When and how do you give attention to your grief? What action steps must you take to start healing and stop grieving?

    Five Essential Healing Attention Stepping Stones To Help You Restore Your Happiness And Find Peace Again:

    1-Let Happiness Sneak In The Back Door

    “Happiness often sneaks in through a door you didn’t know you left open.” ~ John Barrymore

    Happy moments are ever-present. Happy opportunities are abundant even at times of your unwanted grieving. Often, new happy healing possibilities sneak unnoticed through the door you left opened, setting motionless waiting to be recruited and embraced. During your unique personal grieving, you may not have perceived their value. Look again for all happy joyful moments, opportunities and possibilities.

    2-Be Grateful For All Good Things

    “Joy is what happens to us when we allow ourselves to recognize how good things really are.” ~ Marianne Williamson

    Grief happenings come in many dosages, but true about all grief happenings, happy happenings are also present. Counting your grateful moments, as bad as your grieving condition may be, is healing to the soul and your emotions. Often during a grief experience it is not uncommon to not look for joy in your life; it’s seldom easy to find.

    “Half the joy of life is in little things taken on the run… but let us keep our hearts young and our eyes open that nothing worth our while shall escape us.”

    ~ Victor Cherbuliez

    Your grief experience may have had you on the dead run on a sorrow path. Your eyes may need adjusted so that nothing worthwhile will continue to escape your view or grasp. Counting your blessings will help concentrate on the good things that are part of you.

    3-Accept Personal Responsibility

    Certainly, you may not have been able to prevent or control how your grief from happening in your life.

    “Although I may not be able to prevent the worst from happening, I am responsible for my attitude toward the inevitable misfortunes that darken life. Bad things do happen; how I respond to them defines my character and the quality of my life. I can choose to sit in perpetual sadness, immobilized by the gravity of my loss, or I can choose to rise from the pain and treasure the most precious gift I have – life itself.”

    ~Walter Anderson

    Although you may not be able to prevent the worst from happening, you are responsible for your attitude toward the inevitable misfortunes that may darken your life.

    I beg you – Do not despair for behind every dark and dismal grief cloud is a beautiful blue sky with a happy rainbow of future hope available for you. Seek it! Decide what you can do-and do it!

    4-Don’t Waste Your Days – It Is Your Proper Time To Live Not Merely Exist

    I am sure you are familiar with the often-quoted phrase: “The saddest words of tongue and pen are it might have been.” Your challenge is to carefully examine your grief condition then execute actions to live your life, given your grief circumstances, with no misgivings and no uncertainties.

    Even given your horrendous unwanted grief experience, you must learn to enjoy all grateful healing moments as you learn to take the actions necessary to release all anxiety and hesitation.

    Treat each day as a new opportunity. As you choose your personal action plan be sure you plan is one with full awareness and intention. Don’t waste your days grieving; live your life fully don’t merely exist. Don’t squander your time – start healing and stop grieving now!

    5-Thoughtfully Choose All Healing Possibilities

    Consider all opportunities. In the midst of your grieving stay alert and aware of all healing doors which may be available for you to open. You really are the one who determines your permanent destiny. Accept the challenge to rejoice for those things you have.

    At all times, embrace all positive available social media, technology, internet, and all other beneficial and essential resource solutions. Think about asking for Gods help. Overcoming despair, grief and loss should be your highest priority. To stop grieving, start healing grief, loss, and sorrow – and finding hope and joy is vital to you experiencing lasting peace and happiness.

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    Source by Duane Marchant

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  • Advantages of Online Doctor Consultation

    Advantages of Online Doctor Consultation

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    What will you do when you feel ill or suffer from any medical ailment? Without any second thought you will set an appointment to go all the way to the doctor’s office to sit and wait to get treated. Does it sound time-consuming? It is a well known fact that this is an internet age, where almost all the things are done online. Yes, today you don’t need to go to any clinic to see a doctor because an array of fully qualified licensed doctors is available online with whom you could make online appointments.

    This service considerably plays an excellent role for those who pay too much care for basic medical issues such as athlete’s foot, bronchitis, sinusitis and many other simple illnesses. Using this service not just saves your time and money but also helps you to get acute medical issues treated. An online doctor is polite and friendly and encourages patients to ask questions about various health concerns and get their doubts clarified. Now, patients can stop making repeated visits to the doctor’s office for the treatment of acute simple conditions. The detailed consultation report and explanation helps the patients to understand clearly and work towards improving their health.

    Some of the benefits of online doctor consultation are listed below:

    • Alternatively, online medical consultation service is also known as “telemedicine service”. It serves as a great resource for those who have limited conveniences and who are too sick to leave the house to go to the clinic and visit the doctor. In this busy scheduled world, most of the people would be on the go and would be away from home. Therefore, they may find it difficult to fix an appointment with their desired specialists. Don’t worry! Now, you could schedule an appointment with your choice of specialists from the comfort of your home or any other places any time of the day.

    • All the patients are valuable and receive the same care as they would get from the clinics. The dedicated professionals with ready access to state-of-the art online medical services render high quality care for the needy patients.

    • Additionally, online medical consultations and prescriptions are available wherever you happen to have internet access and a computer or other internet-connecting device.

    Most of the patients suffering from minor medical conditions such as cold, ear infections, insomnia, rashes, flu, etc show negligence in getting a proper treatment and in visiting a doctor (since it is a time-consuming process). Therefore they tend to keep delaying the essential health check. But now, an online doctor consultation service will make it easier for them to get these diseases treated.

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    Source by Anitha Hari

    Views: 0

  • How to Overcome MLM Challenges – Multi Level Marketing Tips For Success

    How to Overcome MLM Challenges – Multi Level Marketing Tips For Success

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    There are plenty of helpful tips available to help you overcome your MLM challenges. In my opinion most of the challenges we face in MLM are avoidable but only if you start off on the right path. When I am faced with a challenge in my primary opportunity its usually around developing new techniques for marketing, lack of customers, or lack of money. As business owners in the field of MLM we are faced with difficult challenges but they aren’t unlike those that any other business owner faces. We do face different challenges because of the nature of our business but if you plan for the unexpected and have a vision for the day-to-day operations of your company you’ll be able to thrive in your business.

    Every day businesses are birthed around the world within a dynamic and formidable marketplace where only the toughest survive. If you are in the network marketing industry you know that our environment is particularly fickle and can be a tough training ground for the almost 25,000 people that join Multi-level marketing business everyday in the U.S. and the 95% that fail within their first year.

    Most people join network marketing companies not recognizing the importance of having a vision for how their business will grow and function in its infancy. There is concept that many large corporations use to lead their work on a daily basis and I think that it can be particularly effective for network marketers. Its called Strategic Planning. Planning is not a new concept to business corporations but it might be to those that don’t know about its extreme effectiveness for providing a roadmap for any business for periods of 6-months, to 3 years, to 20 years.

    By understanding the importance of this process and the questions that go into taking you through it, you can gain a better sense of preparedness for your company’s growth. As someone new to this industry you need as much structure in the beginning as possible to understand how to plan and set and meet your goals. By taking the first step in this process you will exhibit your commitment to your business and your leadership for your organization.

    You have to believe in something yourself first, before you can get others to believe.– Ashraf Seddeck, Oracle Corporation.

    What does your company do?

    What product or service do you provide?

    What is your mission statement?

    What are your company’s values?

    What is your plan for your first 30 days, 6 months, 1 year?

    What are your weaknesses/strengths?

    How will you market your business?

    Who is your competition?

    What might be challenges that prevent you from reaching your goal?

    What is your plan to grow your business over the next 12 months?

    What is your plan for recruiting for your business?

    What resources do you have to build your business?

    What is your budget for your business?

    What does your organization look like and what types of people are your recruiting?

    What actions are you taking on a daily basis to build your business?

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    Source by Inger L McDowell

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  • Gay Marriage and Similarity With Legitimising Children Born Out of Wedlock

    Gay Marriage and Similarity With Legitimising Children Born Out of Wedlock

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    It is not that long ago that children who were born to unwed parents were ostracised by society and illegitimate according to the law. The only thing they were responsible for was being born of parents whom religion targeted because their union was not 'sanctioned' by the Church. That type of baloney is no different to banning gay or transvestite people from legal recognition of their love for each other and a bonding relationship.

    The Catholic Church uses marriage as a sacrament and is bitterly opposed to anything that weakens its grip over society. Established by Constantine, a Roman Caesar who is identified as 666 in Revelation 13: 12-18, the religion has used everything from violence to murder to maintain its position.

    Thankfully people are waking up to its lies and the agenda it serves, but not quickly enough. It is based on the premise of heaven and hell as places of eternity after death. This is its greatest lie as no such places exist.

    Professing to hold the 'keys to heaven' its rituals and laws are based on those of ancient Babylon and the Islamic religion, which developed in that city. Constantine was an Amorite, that is the nation who raided Italy and built Roma (reverse Amor).

    He reinstated Mary, the Mother God of that city, as the Mother of God. Men marry 'Mary' to become priests, exactly as was practiced in that place. Jerome, who followed soon after, wrote the New Testament based on the laws, festivals, calendar, and rituals of Islam.

    My research into the roots of Catholicism and, therefore, religion followed my reincarnation and knowledge that there is a Great Spirit of the Universe that controls all things. Nowhere in the bible is marriage mentioned and as the New Testament is fake anything in it is not and should not be of concern.

    Just as people fought to be recognized as legitimate in the eyes of the law those who are gay or transvestite are fighting now a very similar battle. As a man in my last life and a female in this one it is something I understand all too well.

    In my early life my body felt strange but the insight given to me showed that this was done for a reason. I missed the strength of being a man and have never been 'womanly' as such, although I am also not gay. It is time, therefore, to put all questions of equality to rest and to legalimise same-sex marriage. After all, what harm is it to anyone other than the Catholic Church?

    If people want a ritual and to dress up in fancy clothes and have a party, then they should be allowed to do so. While there is no such thing now as an 'illegitimate' child, nor should there be prejudice and hate towards those who life their life in a loving relationship outside of what is considered the 'norm'.

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    Source by Norma Holt

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  • How to Think Like a Marketer

    How to Think Like a Marketer

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    Many people say they hate marketing. That’s usually because they think marketing is all about advertising and sales.

    Marketing is a process, not an event. It involves research, promotion, and distribution along with advertising and sales.

    Maybe the most important and most overlooked aspect of marketing is having the right marketing attitude or marketing mindset. Think like a marketer.

    When you have a marketing mindset, you ask how you can build brand awareness to help your target audience become familiar with your products and services, and you as well. Developing that know, like, and trust factor with your audience is key.

    As you develop a marketing mindset, ideas of how to meet marketing goals on a daily basis will come easily, but here are a few ways to get started:

    • Know Your Product & Service Inside Out: This may sound obvious but think about how many times we, as customers, have walked away from buying something because the person helping us couldn’t answer a few basic questions about their product or service.
    • Find Ways to Leverage Mistakes of Competitors: It’s easy to see what the competition is doing well but just as much (and sometimes even more) can be learned by observing what your competition is doing not so well. The Internet is saturated with career service companies, but what makes your career service better than your competitors? Do your homework. Where are they weak? What client needs are not being met and what can you do to step in and meet those needs?
    • Point Clients In Your Direction: Solve client problems. Point them to one of your services or products and emphasize the benefits, value, and results they can gain from it-being a solution to their problem.
    • The “Bottom Line” Isn’t Just About Money Coming In: Looking for ways to save is just as important as finding new revenue streams. Instead of just recording where the money is going, watch for places to save. When looking at those numbers is there a way that sales can be made more efficiently?
    • Every Client Interaction Is a Networking Opportunity: The word “networking” makes some people uncomfortable. But it doesn’t have to be about schmoozing or closing a sale. It’s simply having a conversation in an effort to build new relationships or strengthen current ones.

    “The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.”-Peter F. Drucker

    In business, everything ties into marketing in one way or form-what you wear, how you communicate (verbally and non-verbally), and what you do to attract, retain, and maintain client relationships. All of it affects or contributes to the profitability and success of your business.

    Thinking like a marketer is a way of ensuring your company’s longevity.

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    Source by Maria Hebda

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  • Journey of a Drug: Design to Market Seller

    Journey of a Drug: Design to Market Seller

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    Where do the medicines we take from chemists come from? How do the doctors know which drug is good for which disease? How the medicines really are able to cure a particular ailment they have been prescribed for? Do these questions come to your mind, whenever you buy any medicine?

    Come, let us today know about the medicine development from the beginning …

    The development of medicine is called a Clinical Research and has different Phases. Phases of the clinical research are the steps of experiments with a health intervention in an attempt to find enough evidence for a process which the scientists think would be helpful in medical treatment.

    The pharmaceutical study starts its journey from a drug design and drug molecule discovery which further progresses into animal testing and then human studies to see the drug's effectiveness.

    Drug undergoes many trials- Preclinical, Phase 0, Phase I, II, III and IV. Sometimes combined trials also are undertaken to reduce the time of development, like Phase I / II and II / III.

    Pre-Clinical Study

    When the drug molecule is identified, it undergoes many in vitro ( test tube or cell culture ) and in vivo ( animal ) experiments. These experiments are conducted to know the preliminary efficacy, toxicity, and pharmacokinetics of the various doses of the drug. Many drug molecules are designed at a time and these pre-clinical studies let the pharmaceutical companies decide which molecule has a greater potential in further studies.

    Design of the Studies:

    Trials are always conducted by following the set of steps, called the protocol, developed by the researchers to find the specific questions related to the medical product. Information from the prior studies become the base for the researchers to develop research questionnaire and objectives:

    • Participant selection
    • Number of participants
    • Duration of the study
    • Controlled or not
    • How and what dosage will be given
    • What and when the data will be collected
    • Review and analysis time

    Phase 0 Study

    It is also called micro-dosing trials, 10-15 human subjects are taken and single sub-therapeutic doses are administered to gather the pharmacokinetic ( PK ) data of the drug. This enables the company in deciding to go or no go for the further development of the drug, based on more relevant human data instead of animal data.

    Such trials exceed the speed of promising drug development by establishing whether or not the drug acts on humans as expected in pre-clinical studies.

    After the company decides to take the molecule of the drug forward in development, it will have to submit the data of its preliminary studies to the FDA called Investigational New Drug ( IND ) application filing.

    Phase I Study

    Also called First-in-man studies as these are the first stage of human testing studies. These are the studies which are designed to determine the maximum dose that can be administered without showing adverse effects.

    Contract Research Organizations ( CROs ) conduct such studies in the clinical trial clinics where medical staff provides full-time attention to 2-100 healthy subjects enrolled for the study and collects the data.

    These studies determine the safety ( pharmacovigilance ), tolerability, pharmacokinetics ( PK ) and pharmacodynamics ( PD ) of the drug. The design of Phase I studies is dose-ranging also called dose escalation studies conducted in controlled clinics called Central Pharmacological Units ( CPUs ).

    Usually, healthy subjects are hired but sometimes terminally ill patients like of cancer and HIV and also those who have already tried and failed to improve on existing medications.

    There are two divisions for Phase I study:

    Phase Ia: Single ascending dose

    Phase Ib: Multiple ascending dose

    Phase II Study

    More than 100 diseased subjects are enrolled for a longer period study, to know the benefits of the drug along with its safety which includes genetic testing. These studies are also called as "Proof of Concept or Pilot" studies.

    This is the phase when the drug's development can fail due to toxicity or less than expected results.

    Two divisions of this phase are:

    Phase IIa: Pilot study, to determine the clinical efficacy or the biological activity.

    Phase IIb: Dose-finding study, to check the biological activity with minimal side-effects.

    A combined trial determining the efficacy as well as toxicity are Phase I / II trials.

    Phase III Study

    These are pre-registration trials means the data of this study is submitted to the regulatory agency through New Drug Application (NDA) for its registration. Also called Pre-marketing or Pivotal trials.

    Such studies are multicentral, randomized, in large diseased population ( more than 500 ) with much longer duration of treatment and short follow up period, to determine the long-term safety and efficacy of the drug.

    Even if the regulatory submission is pending, the drug is received by the patients in case it's a lifesaving drug until the drug can be purchased.

    'Label expansion' that is drug can treat an additional disease, other than the disease for which the drug is already approved, may also be the reason for running the Phase III trial.

    It is said that for FDA ( United States Food and Drug Administration ) and MHRA ( United Kingdom's Medicines and Health products Regulatory Agency ) needs at least two trials of successful trials data to register the drug.

    After these trials, the drug is approved for market selling.

    Phase IV Study

    These are Post Market Safety Monitoring studies done after the drug is registered. Also called Late Phase or Confirmatory trials.

    This kind of study determines the long-term adverse effects on the much larger population for a very long duration (at least 2 years). If harmful effects are detected in this study, then the drug is disapproved and the company has to retrieve the drug from the market as it can no longer be sold.

    The entire journey of the drug from a molecule to a market selling product takes around 15-20 years.

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    Source by Nidhi Sharma

    Views: 0

  • 5 Steps to Move From Employee to Entrepreneur

    5 Steps to Move From Employee to Entrepreneur

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    Have you been considering quitting your day job in favor of starting a business? Have you just lost your job and are currently exploring alternative ways of earning a living? Have you always dreamt of owning your own business some day?

    Before you take the leap of faith into self-employment, consider these 5 steps:

    1. Get clear on your goals/passions – It’s not enough to decide to become a business owner. There are several questions and things to consider before you move forward in becoming a business owner. You will need to think about what kind of business you wish to run. You`ll need to determine if you wish to grow it from scratch, buy an existing business or purchase an available franchise. But even before you decide that- you should think about how the business will fit in with the rest of your life. Running a business can be a huge commitment of time and money. So ask yourself what do you enjoy doing or what will bring you joy? You will spend much of your day on your business so it’s a good idea for the business to provide work you actually enjoy doing. Ask yourself what you are most passionate about? What would you love to do? What is your dream job/business?
    2. Do your research/homework – Don’t make any rash or impulsive decisions and don’t leave your day job until you are absolutely sure of what you want to do and have a plan for doing it. Take the time to do good research by researching the industry, the marketplace, your potential target clients, your competitors. Do proper business research including a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis. Get a good handle on projected revenues and realistic operating costs as well as an understanding on how long it will take to breakeven and generate more revenues than expenses. Identify your personal strengths and skills and determine if there are any skills gaps. Determine how you will close any skill gaps or lack of expertise. Which gaps can be closed through skills training? Which gaps can be closed through recruiting the right people? Which gaps can be closed through coaching or mentoring? Determine what options and opportunities are available to you right now?
    3. Learn from others’ mistakes – There is no shortage of people who have started or run a business. Speak to as many people as you can who have gone before you. Learn what you can about what works, what doesn’t, and what mistakes others have made. Don’t waste valuable time and money. Be open to hearing others` perspectives on what they would have done differently. Hindsight is always 20/20.
    4. Business Plan ahead – Do the work and develop a business plan. While it may be a lot of work, it will be time well spent and most financial institutions will require one if you are searching for financing. The process of business planning is not only to prove to the bank that your business will be a success, it’s also a roadmap for you to follow to ensure success. Running your business finances can be like running your weekly, monthly or yearly personal budget – so if you haven’t developed good budgeting and financial management skills, it might be particularly challenging and doubly important to have a solid business plan.
    5. Hire a mentor – Starting and running a business can be challenging or even lonely at times. In addition to the day to day operations of the business, you may be mentally or emotionally overwhelmed by being a business owner. Having a safe place to go to for advice, guidance, and accountability or simply as a sounding board can be just what you need to help you make the transition into entrepreurship easier and smoother. Good coaching and mentoring can really help you fast track your transition.

    While there are many advantages to being an entrepreneur, it`s important for you to also consider the downside of self-employment. Become a business owner armed with as much information, skills and tools you can to ensure a successful transition from employee to entrepreneur.

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    Source by Linda Cattelan

    Views: 0

  • HOLISTIC Approach To Medicine

    HOLISTIC Approach To Medicine

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    Most people seek better health, but, often, their fear of going to the doctor, or needles, or taking certain medicines, and / or, their desire to avoid what they might consider the risks / side effects, associated with some convention treatments, become a risk to their personal health, and well – being. In the United States, our system of medical treatment is often referred to, as allopathic , which focuses on treating diseases, as opposed to preventive medicine. In many / most of the rest of the world, the emphasis is on reducing illnesses, by enhancing / improving our resistance, and / or immunity, and avoiding taking chemical medicines, initially, but only, when other approaches, aren't indicated. With that in mind, this article will attempt to briefly, consider, review, examine, and discuss, the HOLISTIC alternative / approach, using the mnemonic method.

    1. Healing; homeopathy; heart / head: Holistic practitioners, often focus on healing the entire / whole person, including balancing the emotional and logical considerations, in a head / heart balance, without resorting, first, to merely treating symptoms. Most nations use homeopathic medicine, in a thorough, wellness program, as well as many other modalities.

    2. Options: The focus is on taking advantage of all, viable options and alternatives, used together, towards creating better health!

    3. Listen; learn: Wellness medicine treatment takes the time, to ask lots of questions, and listen carefully, in order to learn more, and be best positioned, to better health!

    4. Importance; ideology; ideas; investigate: Utmost importance, in an alternative regimen, is possessing an ideology, of considering the bigger – picture, and take advantage of the finest relevant ideas / alternatives. When one investigates the options, and alternatives, he places himself, in the best position, for a potentially, healthier life, etc.

    5. Systems; stronger; sustain: When one focuses on the best way to sustain our existence, and proceed, in a stronger way, he accepts alternative systems, focused on a healthier lifestyle!

    6. Timely; trends: Pay attention to the discoveries, trends, and new alternative techniques, with the focus, on the best. most relevant alternatives, might create a healthier – you! In every medically – related, instance, it's essential to pursue, well – considered, timely actions and treatments, while ruling out major illnesses, such as cancer, etc.

    7. Imagination; insist; improve: If you hope to improve your health, you will have to work, on it, while maintaining the imagination, to consider options and alternatives, and insist, on doing everything, possible, to enhance your well – being.

    8. Care; caring; coordinate: Coordinate your care, and know, when allopathic approaches are needed, and necessary, and when, holistic approaches and techniques, might be best, for you! Happy people are generally, best – positioned, to be healthier, and are often, the most caring individuals.

    Wise people don't ignore the possibilities, and are ready, willing and able, to consider, when HOLISTIC medicine and techniques, are best – suited, for you. Will you maintain the open – mind, to be the healthiest, you might possibly, become.

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    Source by Richard Brody

    Views: 0

  • Why Customer Concentration Impacts a Business Sale Transaction

    Why Customer Concentration Impacts a Business Sale Transaction

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    Few owners recognize the major impact that customer concentration has on the sale of their business. Customer concentration represents a significant obstacle and will affect the salability, valuation, and deal structure of a business-for-sale transaction. Not only will it create problems in qualifying buyers but it will impact the ability for any prospective purchaser to obtain third party financing to complete the acquisition. Determining if customer concentration is present in an enterprise is a critical element of the succession planning process.

    Customer concentration is a situation when one customer represents a significant portion of revenues or when the business has a very small customer base. Based upon the expert one consults, the exact percentage for a concentration to exist varies. In most cases it is recognized when one customer represents more than 10% of sales or when the top five customers comprise greater than 25% of a company’s revenue. In either situation, a huge risk is created from the lack of diversification and steps to mitigate it should be taken years in advance of a planned business exit.

    When evaluating a business sale it is important for an owner to recognize that their client base has a significant impact on the enterprise value of the company. A broad and diverse base of customers where there are a large number of clients contributing to the business’ revenue will achieve a higher transaction value as it reduces the risk that a sizable decrease in earnings will occur if any one customer is lost or a particular industry segment that the business serves encounters economic distress.

    In addition to a lower sales price, businesses with customer concentration issues are more difficult to market for sale. For main street business transactions (those with adjusted earnings of less than $2mm) third party financing is used in the majority of cases. Businesses with high levels of customer concentration are very difficult to get financed. Lenders may provide only partial financing, offer sub-optimal terms, or decline the loan altogether. In situations where third party financing is not available, the pool of available buyers is significantly restricted and the terms of a deal could be heavily weighted on a contingent earn-out based on retaining the revenues derived by the largest customers. “Typically we want no customer concentration over a 10% level when considering financing an acquisition. Higher levels are possible with much more explanation and supporting documentation but remain a major concern” states Steve Mariani, President of Diamond Financial Services.

    Lastly, customer concentration will have a direct impact on the deal structure for the business sale transaction. Buyers will strive to bridge the customer concentration risk through a variety of delayed ‘performance based’ financing methods. For example: Assume both parties agree on a transaction price of $900,000 based upon $300,000 of adjusted earnings (a 3x multiple). If the key account in question represents $75,000 of the $300,000 this would represent $225,000 of the transaction price. A buyer will strive to isolate the $225,000 component to ensure that revenue is maintained post sale. After a period of 12 months, if the customer and income are still in place the seller would receive the funds. If the identified client and corresponding revenue was lost during this period, a pricing adjustment would be made.

    In situations where the buyer is unable to obtain transaction financing due to customer concentration issues, the seller might have to accept a “contingent earn-out” for the revenues derived from the largest customers, or worse, they may also have to finance a major portion of the “non-contingent purchase price” negotiated with buyers.

    Contingent payouts could be structured in a variety of methods:

    Earn-Out:

    Earmark part of the purchase price with payments made over a period of time contingent upon the retention of specific customers or achieving specific revenue targets.

    Escrow:

    A percentage of the acquisition price will be held in an escrow account for a specified time.

    Seller-Financing:

    The seller would be responsible for financing a major portion of the purchase price through a seller note. The seller note could be structured with contingencies for revenues derived from the largest customers.

    With any of these deal structuring techniques, the seller cannot be expected to guarantee the revenue in perpetuity and if the transaction price is based upon retaining one or more key customers, the seller may require more active involvement in maintaining the client relationship during the term of the agreement. Obviously, this brings an additional complexity to the transaction.

    In most cases, buyers will look to discount the amount they are willing to pay for a business (with high customer concentration) unless they receive assurances that the risk is low. While the obvious strategy to reduce customer concentration risk is to diversify and increase the business customer base, there are a number of situations where customer concentration either does not pose a significant risk or could be mitigated.

    Customer Contracts:

    Having a contract in place will not eliminate all of the risk of losing a key customer, but it will provide the buyer with security that the revenue and profits will continue after a change in ownership takes place. When customer contracts are involved, the ability to assign or transfer will be important to understand. In many cases, a stock sale vs. asset sale is elected to preserve these contracts.

    Barriers to Entry or Exit:

    Businesses could have intellectual property, product expertise, or patents that create competitive advantages barring competition. Others are located in geographically remote areas where the supply benefits discourage customers from changing the relationship. Lastly, there could be significant capital requirements for manufacturing and tooling or agency approvals (pharmaceutical or government contracting industry) that creates a barrier to entry from potential competitors.

    Providing a Variety of Products and/or Services:

    Having a broad relationship with a key customer where the relationship is not based solely on one product, one location, and one individual decreases the risk that a singular change will fundamentally impact the future revenue stream and continuity of the account.

    Economies of Scale or Synergies:

    The acquisition may be pursued by a strategic buyer where they are bringing new products/services to the enterprise, a broader geographic distribution footprint, or economies of scale in production. Any of these elements would assist in reducing the concentration of revenue risk that an identified key client would represent to the future organization.

    Summary

    Businesses which have high levels of customer concentration are inherently risky and it is important for the owner to appreciate this concern from the perspective of a potential acquirer. Ultimately, the buyer seeks only to retain the customers which have contributed to the success of the business and are factored in the valuation and transaction price. From the position of a buyer a few logical questions and concerns would be:

    1. How does the value of the company change if a customer representing 10% or more of revenue and/or profits is lost in the first year?
    2. How easy would it be for the client representing the customer concentration concern to leave the business?
    3. What unique situations exist within the business to preserve the customer relationship in the years ahead?
    4. What are the logical steps and corresponding costs to mitigate the customer concentration risk?
    5. How do I achieve a win-win transaction? Protecting me, the buyer, against the risk of a near term revenue loss while providing the seller with the proper remuneration for the fair market value of their business?

    While the risk may not be able to be totally eliminated, there are a number of situations where customer concentration is more palatable and a proper explanation should be provided to the buyer at the earliest opportunity. Getting out in front of this potential challenge is critical to achieve a win-win deal. When good communication exists, and two fair and reasonable parties are at the table, there are a number of structuring options available, when necessary, to mitigate the risk and negotiate a fair and reasonable transaction price. Obviously, the best approach for a prospective business seller would be to develop and implement plans to reduce any customer concentration elements years in advance of a business exit. Eliminating this type of risk is just sound advice for any small business owner regardless of whether a sale is contemplated.

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    Source by Michael Fekkes

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