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Tips, advice and solutions for business owners wanting to grow or improve their business
What do I need to prepare my business for sale?
Business Sale Building Blocks - The prospect of selling a business, or at least positioning it so it can be sold, will be confronted by all business owners eventually. It may be for 20 years down the track (rare) or to sell now (more common), but the simple reality is that all businesses will have a change of ownership at some point.
... read moreThe Cost of being Tolerant
Business owners tolerate a lot, whether it is poor performing staff, process problems, cash flow, IT and the like. In doing this, the level of stress or pressure on the owner (and in many cases - the business) rises in direct proportion.
... read moreWhat is your product or service worth?
Pricing... pricing... pricing... it’s all about getting the price right - so that your price point is not only accepted by the market.... but also delivers sufficient profit to your bottom line.
... read more10 Mistakes to avoid when Selling your Business
Some would say that the hard work has been done, but you can't take your eye off the game at this crucial time - as it could blow up in your face and cost you a lot.
... read moreFail to have a Business Plan is Planning to Fail in Business
"Fail to plan is planning to fail" - Winston Churchill.
Even though this well used line receives universal acceptance in conversation....... few businesses "walk the talk".
... read moreBusiness Marketing - "Shark" versus "Anemone"
At the heart of any successful sales program are a heathy number of leads generated by a well formulated marketing program. Equally, where sales or revenue levels are not hitting the mark – then generally there is no effective marketing plan in place.
... read moreSure Fire Business Killers
Operating a business has its challenges due to the many and varied issues drawing on the owners time – people, product, sales, collections, just to name a few. Thus it’s no wonder that many business owners operate “in” rather than “on” their business – which has its dangers.
... read moreMy Business is Up for Sale!
The sale of a business is typically an emotive situation for the business owner…… and in the majority of cases, something that they are very unfamiliar with. So if you are thinking of selling your business, then consider the following 6 ingredients for a good business sale experience.
... read moreBusiness Finance - On the Hook!
For those who have borrowed money, you would be aware that financiers are always looking for a primary exit (repayment) source – normally via the repayment from business operations AS WELL AS a secondary exit just in case everything turns sour.
Most people get the simple fact that if they default on the loan, the financier will look to seize the security to get their money back, but…. there is a lot more to learn about this.
... read more3 Strategies to Energise your Bottom Line
There are three key strategies available to energise your bottom line, with then an infinite number of tactics which can be used to support them - customised to your business and its circumstance.
... read moreIt's never the Message in business - always the delivery!
How many times have you been given some news and reacted badly; triggering a sudden or violent reaction, not gaining an understanding or getting the full message?
... read more7 Reasons Why You Should Know Your Cash Cycle
You often hear throw away comments such as “Cash is King” and “Cash is the lifeblood of business” – but what do these really mean?
... read moreThe Financial Shopping List for Business
With countless finance products in the market - which one should I take? This is an FAQ from most businesses at some point, so this simple shopping list should take some pain out of the process.
To start, it's not so much a case of which product you should take, it's more a question of which one do you need and realistically, what is available.
... read moreBut I didn’t see it coming!
All too often this is the catch cry after a major incident.....a show stopping incident.....a business crippling incident…
... read moreThe Factor of Time
Time is a precious commodity and one not to be squandered. Often time.....is the critical factor between success and failure.
... read moreThe Business Debt Trap
Debt comes in two forms - Good and Bad. Successful businesses understand the difference and actively manage their position.
Over the years I have seen many businesses struggle (and some crumble) under the burden of debt - with the debt load literally hanging over the business like a tree branch waiting to fall in a strong wind. Using a simple test before taking on debt will assist you in avoiding this risk.
... read moreMore Fees for Business than Service
Ever noticed that some bill accounts are so complex that it takes a master’s degree to work them out? Put simply.....it's an illusion to justify a larger cost and/or mask the value that is being charged.
I call the language used in these accounts "bill speak", so once you understand how to translate it - you will never be fooled again.
... read moreBusiness Decisions - play them forward three hands
Many strategies and decisions are made "in the moment" - considering only todays issues with little thought given to the flow on effects or impacts.
Consider for a moment what this could look like in a practical business context;
... read more5 Avoidable Banking Mistakes for Business
As with most things in life - learn the lessons of those who have gone before you.
Over my years working with businesses and lending money, I have seen a number of simple mistakes that have cost people a lot of money. To save you the cost of these, I have jotted down 5 of the most common mistakes that I have seen, along with simple yet effective suggestions to avoid them.
... read moreMoths in your pocket
Successful businesses have a strong handle on where they spend their money.
There is no point putting in all of the effort in running a business, finding clients and generating sales if at the end of the day - you have nothing left to show for it. Every dollar you spend must deliver tangible value to you and your business. If it doesn't, then it makes no sense to pay it.
... read more