Prepping Up Your Business For Sale

There are many reasons why you may want to sell your business. Whatever they are, it’s important to realize that you have to do some prep work in order to make your business sell. As you know, running any kind of trade alone is no piece of cake. Making someone else assume ownership could be more difficult because you have to convince everybody that you’ve done a good job and that it could be their time to do the same with what you have started.This preparation then is going to be your biggest task and you can begin by finding the right timing. Timing does matter because when you’ll never know when your business might not be in that good a condition for people to even consider buying it. If you have already anticipated that you may have to let go of it, sell it at a time when it is doing good. This is a very basic point that must be understood. A business that is doing well will sell faster and at a good rate than something that is obviously going down the dumps.You should also define exactly what you are putting up for sale in order not to confuse those who may take interest in buying your business. If you are the sole proprietor, you have to make it clear what physical assets you are selling and non-physical ones such as trademarks, copyrights and the like. If you have a corporation, you can decide between selling all your properties as a corporation excluding the company itself and selling everything, including the company. Around this part, you have to declare the real value of your business based on established valuation methods and techniques.Lastly, you have to treat your business as house that is to be renovated to be advertised for sale. Nobody wants to buy a restaurant with dilapidated walls and non-working equipment. If you have to sell your business, you have to make it attractive and yes, you do have to invest on making it attractive before you think of inviting prospective buyers for a tour.Unless you are a pro yourself, selling your business will require an expert who can give you sound advice on pricing and, of course, a broker who can spread the word. You’ll always want a broker though who has the right connections and the right machinery to advertise you business and bring it to the attention of people who will likely give you a good deal.

The Evolution of the Automotive Lift

Automotive lifts or car lifts can be found in all automotive repair shops and in home garages across the globe. We all can assume that as long as we have known, a professional automotive shop or garage will invest a considerable amount of money in car lifts, and other automotive equipment because of the growing demand in the service and repair business. We have seen a steady increase in the automotive repair business in the past few years. Consumers are more likely to service or repair their vehicles now, rather than look to purchase a new one.With the evolution of technology, the evolution of the automotive lift has also changed. The importance of car dealerships, car rental businesses, shipping business, quick lube stations, and auto body shops to invest in more advanced and reliable lifting solutions is a necessity to keep up with the demands of technology and that of the consumer.Consumers are always changing the way they shop, and the way they save money. For this reason, the evolution of the car lift has caught the eyes of the dedicated home hobbyist who is looking to service their own pride and joys, and at the same time maximize their storage space in their garages. No longer are car lifts priced as high, and some are specifically designed for the home user while keeping efficiency, convenience, speed, and most of all safety in mind.But buyers beware, because although safety is a main concern, there are still many cheaply designed lifts out there. Safety should always be a priority, especially for professional use. It can be a daunting task to find the best car lift for your business or home car garage, but with the internet at your finger tips, time and a little research will considerable help you with your decision. And you are off to a great start, as you are reading about the evolution of the automotive lift.There are many different styles of car lifts, and some more popular than others depending on their applications. What you will find when doing your research is that their are 2 post car lifts, 4 post lifts, single post lifts, in-ground lifts, scissor lifts, alignment lifts, parking lifts, portable lifts, and mobile column lifts all having their unique design, purpose, and use. Again with all these choices it is very important to keep safety in mind. With the evolution of the automotive lift there have been standards defined to make sure the consumer is kept safe. Manufactures have put their products through certifications that meet these specific standards, and a consumer can identify a certified lift by the ALI/ETL certification sticker on a lift. You can have piece of mind know that an ALI/ETL certified lift has gone through rigorous testing for operation, safety, speed, and efficiency. This will help choose the best auto lift for your home or business.There are other factors you will have to take into consideration before making your final decision. You will have consider where the lift is going to be installed, the requirements of the lift installation, measurements of the bay or garage, measurements for the ceiling height, lifting capacity, and finding a professional installer. Also of great importance is the PSI for the concrete, and the location of the power supply relative to where the lift will be. All these factors will aid in your investment as a home hobbyist or professional automotive business.

Crypto Currency Vs Fiat Currency

Crypto currency vs. Fiat currency

Are you aware of the fiat currencies and the crypto currencies? They both are currencies in one form or the other and are open for public use across the world. But they are both different and distinct in their own ways. There is always one group that favors the use of cryptos, while the other has a soft corner for the fiat currencies.

In cashless society- crypto money play a huge role

If you have a look at the market of the 1970s and 1980s, you will find that the cash played the dominant role. But, with the change in the technology, electronic transactions have become the usual norm. Today, more and more people are influenced in becoming the cashless society. With the progress towards the cashless society, cryptocurrencies have a big role to play.

Crypto currency and fiat currency are always at loggerheads

Cryptocurrency and fiat currency are popular types of digital currency, especially when it is about an online transaction. They both are currencies currently in use in the market but have some differences in them. There is a hell lot of hypes that you will hear on a daily basis comparing the crypto money and the fiat money. This article will highlight the difference between the two in a more comprehensive and clear manner.

Differentiating in what the currencies stand for

Before going for the difference between the two, you must understand what do they stand for and how are they are defined.

The fiat currency is a legal tender that has the support of the central government, and it operates in the physical form. For instance, US dollars, British Pounds, Euro etc. On the other hand, the crypto currency is a non-legal tender, and doesn’t have any backup from the central government or bank.
Hence, the difference between crypto currency and fiat currency is noted as follows:

• Crypto-currencies are decentralized and global in nature. There are no one entity or government that controls the currency with their laws and regulations. The Fiat currency is centralized, under the control of the laws and regulations of the banks and government.

• Crypto-currencies have their existence only in the digital domain. On the other hand, you will find that the fiat currencies have a tangible and physical existence.

• There is a limited supply of crypto-currencies with a maximum set of them getting supplied in the market. Whereas, the fiat money has an unlimited supply as the government and bank are entitled to produce coins and paper money whenever the situation is required.

• The Bitcoin and other crypto type currencies are created by the computers, while the fiat currencies are issued by the local government and the banks.

• Cryptocurrencies are presented as the public and private code pieces. On the other hand, the fiat currencies are presented in the form of coins and paper money.

• The value of the crypto currencies is not recognized by the supply and demand of the market. Whereas, the fiat currency value is determined by the market regulations of supply and demand.

The different types of crypto and fiat currencies

In the last one decade, the popularity of crypto type currencies has emerged as a huge success. It was in 2009, when Bitcoin was first introduced, and years after several other types of crypto currencies have emerged. Starting from Litecoin. Dogecoin, Ripple to the Dcash and Zcash, there is a plethora of them. On the other hand, the fiat currency has a rich and ancient roots, with the Great British Pound, that dates back to 775 AD. It is considered as the oldest currency in the world that is still in use.

The differences in the anonymity between the two currencies

When you are using the fiat currencies, you need to undergo a user identification or verification process. You are asked to upload a recent picture of yourself and some of the required documents to be issued as per the public authorities. You don’t need to undergo any of the required processes with the crypto currencies. Though your personal information and confidential details don’t get public, but all your transactions are recorded and tracked in both the fiat and the crypto currencies.

Fiat currency vs crypto currency: transparency level

• The transparency level with the crypto type currencies are considered to be more. This is because the revenue streams are displayed in a public chain. Everyone can witness their own and others’ transactions.

• The fiat or govt. currencies are not transparent, as there are not public chains to see the revenue streams of the people.

A comparative historical roots

If you compare the crypto money with that of its counterpart, fiat or government currency, you will find that their existence and creation brings the difference. The Fiat or government currency, dates back its existence as early as 775 AD with the introduction of the Great British Pound. This is why fiat type currency is easily accepted by the people all over.

On the other hand, the crypto coin was perhaps first introduced only a decade ago, with the introduction of Bitcoin in 2009. The challenge that the Bitcoin and other crypto currencies face is catching up with the immense popularity and increasing fan base of the fiat currency. Crypto currency, is no doubt gaining importance and popularity in the economic market, but it has still not been accepted widely in the society as the fiat currency.

A comparative history of the two currencies:

• It was in the 11th century, when the Chinese Song dynasty was perhaps the first one to issue the paper money. It was not allowed to exchange with valuables like gold and silver or silk.

• There were Tally sticks that were introduced as a fiat or government currency. 1100 Tally sticks were introduced as a combat for the shortages in gold.

• 1971, was the year, when the fiat currency received a worldwide recognition. President Nixon introduced it in order to eliminate the dollar pegging system to gold.

• It was in 1998, when the idea of an anonymous electronic cash system emerged by Wei Dai. Bitgold-the very first crypto currency was created by Nick Szabo, but it didn’t receive as much attention as Bitcoin.

• In 2009, Bitcoin was introduced in the market, that became the first crypto currency that was accepted across the globe. In 2011 and after, a series of several other crypto currencies were introduced. Some of the popular ones include, Litecoin, Dogecoin, Ethereum, Ripple, Zcash, Dash and so on.

The traits of both the currencies

The potential of the crypto type currencies and fiat currencies, accessing their traits is important. You will find that in some of the criteria, Bitcoin and other crypto currency is superior than the fiat or government currency, and in some cases, the latter surpasses. It is absolutely your call to choose the type of currency (crypto type currency or fiat type currency) based on your personal needs and requirements.

Let us compare their traits with respect to certain factors.

• Both the crypto coins and fiat type currencies are interchangeable in nature.

• As per the portability is concerned both the currencies secure more or less the same position.

• With respect to the non consumable criteria, crypto currency and fiat type currency have the equal status.

• Crypto type currencies have high durability as compared to the fiat-currencies that have moderate level of durability.

• Both the crypto or virtual currencies and the fiat or government currencies ensure secure and safeguarded transactions and exchange.

• Crypto or digital currencies are highly divisible in nature. On the other hand, the fiat type currencies are moderately divisible.

• In terms of the transaction process, the crypto currencies are easy and hassle free. Whereas, on the other hand, the traction process associated with the fiat currencies are easy, but not like the cryptos.

• The crypto based currencies are decentralized and global in nature, unlike the fiat currencies that are centralized and functions under the laws and regulations of the government.

• The crypto based currencies have high scarcity, where as, the fiat currencies are unlimited as the government can issue coins and paper money whenever there is a need.

• The crypto based currencies are based on mathematical algorithms, and are programmable. The fiat currencies are not at all programmable.

• The fiat currencies are sovereign in nature, while the crypto currencies are not.

The process of the functioning of the currencies

You can find the significant differences between the crypto or digital currencies and the fiat currencies with the way they both operate and the transaction process that take place. They are contrasting in nature. The transfer of money using the Bitcoin is very quick, and you absolutely don’t need any third party association.

On the other hand, if you are involved with the money exchange using Fiat type currency, a mobile wallet is in use. You can exchange an amount of e-money that gets transferred into the equal e-value amount. Both the fiat and the crypto currencies enable you to purchase everything that you desire. But the processes involved are absolutely distinct from each other.

Depending on the things you purchase, you will find that one currency form is better than the other. This is absolutely your choice.

Is Bitcoin, a crypto currency better than the fiat-currency?

The long term benefits and the capability of the Bitcoins is still not established. But it has been predicted by the crypto currency gurus and experts, that they will go a long way, especially revolutionizing the way the online transactions are done. In the current market, the Bitcoin is mainly included in the online casinos and the gambling, but it is not limited to it.

Furthermore, when you compare the fiat currencies, the Bitcoin allows you to seize the power and authority from the banks and the government since it is not controlled. The cryptography based currency has the capability to create or come up with the free market capitals. Fiat currencies are affected by the inflation and the changes in the market, unlike the crypto based currencies. Such aspects make individuals believe that cryptograph based currencies will soon take over the mainstream currencies and bring a transformation in the way the money is used.

Why is Bitcoins considered to be a better aspect than the fiat type currencies?

• Bitcoin gives you the opportunity to re-create a free market capitalism.

• The power of controlling the money is absolutely with the individuals, and not with the banks like the fiat type currencies.

• When there is an inflation, the Bitcoin is not affected. But the Fiat type currency will be easier to lose and get affected by it.

• The Bitcoin currency is easy easier to exchange and transfer as compared to the fiat or government currencies.

• The transaction fees involved with the Bitcoin are way cheaper and easily affordable.

Crypto currencies seem to be a favorable option among the people

The fiat type currencies are the centralized and legal way of exchanging money. But, the crypto currencies have acquired immense popularity in the past few years. There will never be anyone who would act as a middle man, like the case with the banks. Moreover, the cryptos are way cheaper and less expensive that the conventional fiat currencies.

Send money anywhere directly without waiting for the bank’s approval

You can send money to anyone in the world directly, and it is super fast. The money gets cleared within a few minutes time. You don’t have to wait for the traditional clearing and verification processes of the banking systems, which might take up to several days to get a clearance. Since it is decentralized and doesn’t come under the law and regulations of the government, nobody has any power to do anything with your account.

The blockchain technology has a very big role to play

Thanks to the crypto currencies, that gives us the power and the authority to become our very own bank, and take control over our finances. It is because of the blockchain technology that offers a higher level of sophistication while dealing with the finances. In fact, there are some mainstream financial industries that have started incorporating the idea of the technology.