Keeping people passionate about what they do is the single biggest challenge in business. However, happy people are more likely to be passionate.

Passionate people breathe life into a business. They take the business to new levels. But how do you make people passionate about business? Surely, as one Venture Capitalist pointed out to me a few years ago, it's about making the most amount of money in the shortest space of time. That's all that counts. But is it?

Inspiring staff is a challenge for business. It's a difficult thing to do. Contrary to the many 100s of blogs on the subject matter, business does not naturally lend itself to inspiration.

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Hungarian-born Soros is that rare thing, a successful intellectual businessman. By Jon Neale

His ‘Quantum Fund’ returned more than 4000% in its first decade of existence – while he studied under Karl Popper, one of the twentieth century’s most distinguished philosophers.

Soros has always said that his investment activities – which would make many a Wall Street high-flier green with envy – are a means to an end; he has always wanted to support his true vocation as author and philosopher.

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Here are BOB's 'Did You Know Facts' for June...

1. Michael Jordan made more money from Nike annually than all of the Nike factory workers in Malaysia combined.

2. Work-related stress is the second biggest occupational health problem in the UK, after back problems.

3. The first fax process was patented in 1843 by Alexander Bain.

4. 70% of internet porn traffic occurs during work hours.

5. Martha Stewart's nickname in prison was M Diddy.

6. Over 100 million sausage rolls a year a sold in 1,200 Greggs and Baker's Oven shops in the UK.

7. 1.15 million new washing machines are sold every year in Canada.

8. Almost half the newspapers in the world are published in the United States and Canada.

9. More Monopoly money is printed in a year, than real money printed throughout the world.

10. Intel invented the single-chip microprocessor in 1971.

Here are some quick tips to buying a business from BusinessesForSale.com

Think about your own strengths and weaknesses, and focus on the business that is right for you and your needs. For example, do you need to live on the premises?

Research your sector using the trade press, the internet and even word-of-mouth. This will help you to ask the necessary questions should you decide to proceed.

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BOB has come across a good article on Entrepreneur about how you can improve your eBay business by offering great customer service.

It doesn't matter what you sell; people truly buy only two things from you: security and confidence. If you can't provide those two things through your customer service, your buyers will simply move on to your competitors… and on eBay, they have many to choose from.

If you treat eBay like a garage sale, you shouldn't be surprised when your products fetch garage-sale prices. By treating it like a real business - using research, advanced marketing tools and gold-star customer service - you will outsell your competition. To develop your gold-star customer service policies, stop thinking like a seller, and start thinking like a buyer.

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Reasons for buying a business vary enormously, but in many cases the skills, contacts and team spirit of the staff are among them.

Much of the business’s profitability is down to its employees – and this is particularly true for service industries such as property agents, hair salons or loan brokers. Often, client relationships are with the individual rather than with the brand or the firm.

Even in other sectors, it is important to remember that the business would probably not be worth the money you paid for it if the staff were not part of the package.

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With so much inspirational sport on our TVs, BOB is calling on all entrepreneurs to get off the couch and buy a sporty business. Here are four fit opportunities.

Tennis Store, North of Atlanta, Georgia, USA
This great looking store is making sales in excess of $330k, a profit of $50k and is available for $295k (US).



Waterski Park, Milton Keynes, UK
The business is located at a leisure park that attracts over 1 million visitors per year. Asking price £295k (UK).


Camping, Fishing, Hunting Store, British Columbia, Canada
Operating from the same location since 1950, this traditional store is available for $139k (CAN).


Aquatic Fitness Center, North California, USA
With over 1,600 members this attractive business has sales in excess of $600 and is available for $450k (US).

According to Barclays Insurance, Britons will spend nearly £5bn on sports this year.

According to it's data, Barclays Insurance claims the average UK person will spend £206 this year.

Sports participation traditionally surges in the summer as participants are inspired by televised major sporting events such as the football World Cup, Wimbledon and the Open Golf championship.

The final two steps in buying the business will be, as expected, led by the lawyers.

Step Nine – the sale and purchase agreement. This legal document will contain the terms and conditions of the acquisition and the rights and obligations of the parties involved.

Apart from the price, how the purchase will be financed, when and how – this will also contain more detailed clauses. For example, you may put in a restrictive covenant preventing the seller from setting up a new business that will directly compete with you.

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Dynamis team member Neha Chowdhury shares her blog insights with BOB:

Having recently attended the Online Marketing Show I would like to share a few interesting learnings with BOB's readership.

1. When creating a blog it is important to pick a niche that you know and understand.

2. Think about 'Spider Food' (content that is recognised by search engines). Use descriptions for each of your  Blogs entries that will be latched onto by search engines.

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The deadline to apply for disaster assistance is quickly approaching.

The US Small Business Administration (SBA) is encouraging small businesses with economic injury to complete and return their disaster loan applications before the June 28 deadline.

These economic injury loans are available to business owners in Mississippi that are unable to meet their business expenses as a result of Hurricane Katrina.

Small businesses may apply for a loan up to $l.5 million if they suffered substantial economic injury from the disaster.

BOB loves cars. This month's auto opportunity from BusinessesForSale.com is based in Las Vegas.

Any business that claims to have an 18-year track record has to be taken seriously. The operation engages three full time and one part time employee and is currently making sales of $390k with a profit of $90k.

The business focuses on servicing high end imports including Rolls, Bentley, Jaguar, Benz and BMW. The asking price is $190k.

You're now ready to conduct the official due diligence undertaken by professionals to make sure that everything is as it should be.

It may include commercial due diligence to assess the business itself, legal due diligence to look at the contracts of the business and financial due diligence to assess the tax position.

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BOB loves recently knighted Easy Group entrepreneur Stelios Hadji-Ioannou. Here are some words of wisdom:

How do you define an entrepreneur?
Stelios says: Entrepreneurs are risk takers who are willing to risk their own personal wealth in the knowledge that they might end up poorer than when they started. Sometimes you see the head of a large listed company being described as an "entrepreneurial CEO" which I think is a misnomer... CEOs, for all their managerial qualities which I admire, are salaried employees and often end up richer than when they started even when they destroy value for the shareholders!

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Jack Welch - the former CEO of GE - lays down the following 10 principles for good business leadership in his book, Straight From the Gut:

1. There is only one way - the straight way. It sets the tone of the organisation.
2. Be open to the best of what everyone, everywhere, has to offer; transfer learning across your organisation.
3. Get the right people in the right jobs - it is more important than developing a strategy.
4. An informal atmosphere is a competitive advantage.
5. Make sure everybody counts and everybody knows they count.
6. Legitimate self-confidence is a winner - the true test of self-confidence is the courage to be open.
7. Business has to be fun - celebrations energise an organisation.
8. Never underestimate the other guy.
9. Understand where real value is added and put your best people there.
10. Know when to meddle and when to let go - this is pure instinct.

Nielsen/ NetRatings, a global leader in Internet media and market research, announced today that nearly three-quarters of US Web users connected at home via broadband in May.

The research also indicates that broadband users are more likely to make better use of Internet functionalities and newer technologies, such as RSS feeds and blogging.

"Although we are not seeing the explosive month-over-month growth we once were, the market for broadband Internet connection has not yet reached saturation," said Jon Gibs, senior director of media at Nielsen/NetRatings.

Whether you're from Texas or Liverpool, if you're thinking of buying a pub in the UK here are 10 quick pub facts to consider...

1. There are 61,000 pubs in the UK.
2. The industry in the UK is growing by 10% a year.
3. Licensed retailing is a £23bn industry.
4. Eight out of ten adults in the UK count themselves as pub goers.
5. Over 15 million people drink in a pub at least once a week.
6. Over 80% of pubs are small businesses run by tenants, leasees and owners.
7. The average pub spends over £70,000 per annum on locally sourced goods and services. 
8. UK pubs now serve over one billion meals per year.
9. Leaseholds pay a premium and an annual rent of £10-£50k.
10. Long and unsociable hours are required.

Pubs are central to British life. BOB looks at the pros and cons of buying one. By Jon Neale

If you ask any foreign tourist, young or old, about the attractions of the UK, pubs will undoubtedly be mentioned. After all, there are over 60,000 public houses in Great Britain.

The ideal country pub, complete with ivy and timber frame, is probably the dream of many in the industry.

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The Americans have their mighty gas stations, the French have their charming cafe-bars and the British have their pubs. Here are this months 5 favourites on BusinessesForSale.com

Seaside Pub, Hotel and Restaurant (pictured left)
Opportunity with outstanding views in tourist zone. 8 letting rooms plus 4-bed owners accommodation. £500k sales. Freehold. £795,000

Exmoor Village Inn
Located in a delightful period village. Comes with 3-bed accommodation. Leashold. £99k.

Pub, Hotel and Restaurant
This detached property occupying prime location on Norfolk Broads. Freehold. £649k.

Traditional Village Pub
Village public in prime central location with four-bed accommodation. Turnover £350,000. Leasehold. £210k.

16th Century Pub
16th century country inn.Turnover £200,000 per annum. Freehold. £795,000.

Henry Ford (pictured left)
There is one rule for industrialists and that is: make the best quality goods possible at the lowest cost possible, paying the highest wages possible.

Bill Gates
What I do best is share my enthusiasm.

Michael Gerber
My experience has shown me that the people who are exceptionally good in business aren’t so because of what they know but because of their insatiable need to know more.

Dr. Joyce Brothers
The person interested in success has to learn to view failure as a healthy, inevitable part of the process of getting to the top.

Michael Jordan
Just play. Have fun. Enjoy the game.