CASE STUDY: From $6 to $5668 per qtr in GST in just 3 years…

CASE STUDY: From $6 to $5668 per qtr in GST in just 3 years…

Who would think it is pleasing to use Tax as a Growth Indicator?
This story from one of my charges (Julie Demczuk of www.exclusivepmg.com.au) just this week, got to love a share such as this:

I’m sitting in my office on my own thinking about when I first started the business.

 I remember saying to my bookkeeper I can’t wait until I start paying GST.  I was so excited when my first GST bill was $6.

 After three  years my GST bill for the last quarter is $5,668.
What an amazing difference.

What an amazing difference indeed! Whilst I haven’t contributed directly to her growth numbers, she is one the amazing number of Women Business Owners who are building their business as an asset, ready to be saleable when the time comes  (which may be right round the corner!)
So very proud of this entrepreneurial mother.

Just think how well off the new owner of a business like this will be. Not only is the thing well-established, if $5000+ of GST is being paid quarterly, then the revenue has to reflect same. Much more palatable when compared to waiting for revenue as a start-up… Interested in knowing more? Please drop me a line at info@theentrepreneurialmother.com.au

Some would say “why?”, others, “why not?” 

Some are born to start, build and hold for as long as it takes.
Some are born to start, build and pass the baton on.

Which one are you?

ARTICLE: Why consider using a Business Broker (just like me) to Sell your Business?

ARTICLE: Why consider using a Business Broker (just like me) to Sell your Business?

AIBB Sales Index_June 2014

Trying to sell your business on your own, having not done it before, can be fraught with danger!
As the old adage goes, “You don’t know what you don’t know!“. There’s always the chance that you luck your way through, and all hail to you if you manage to do so.

But what I know for sure is, as an experienced Business Broker, is that most do not sell, or sell well.
You (as the owner) eventually use a Broker after trying unsuccessfully.
In many cases, all that’s unfortunately been achieved is that it takes a whole lot longer to sell and by potentially taken your eye off the business ball, the numbers may then reflect the distraction (which is not good for sale purposes)…

So why consider using a Business Broker from the outset?

  • We are licensed to assist in the buying and selling of businesses, at the State level
  • We have insights, gleaned over many years, into specific industries or type of businesses
  • We maintain confidentiality of buyer/seller
  • We act as a buffer between the buyer and the seller
  • We have a working knowledge of accounting, financing, legal, marketing etc to avoid unnecessary surprises in a transaction
  • We play the role of the “conductor of the orchestra” and even the “project manager”.

If trying yourself is what you want to do first, then watch out for these common mistakes to avoid when exiting. Not:

  • Focusing on the bigger picture
  • Doing your own research of your own market
  • Thinking through the “risks” – almost impossible to be “risk free”
  • Entertaining a willingness to accept risks •Example: Special conditions that can “kill the deal”
  • Regarding the probability of things going wrong
  • Reviewing the seriousness of quantifiable damage
  • Budgeting for upfront costs
  • Adapting “generic due diligence checklist/template” to your needs or size of the transaction •Example: Using a checklist suitable for multi-million dollar enterprise on small businesses
  • Deeming it worth the extra expense to seek input from accountants and solicitors with your particular industry expertise, while maintaining an existing relationship with your accountant or solicitor.
  • Being sure of who or what professional to seek appropriate advise from
  • Understanding the limitations of what the professional advisors can provide
  • Giving appropriate instruction to the professionals engaged

The following are 5 tips to help enhance the sale price of your business… by answering these 5 questions, you are seeing your business popping on Buyers Goggles.
Is it:

  1. Profitable?
  2. Renovate-able?
  3. Automate-able?
  4. Scalable?
  5. Saleable? (i.e. not revolving around you)

If the answer is no to any of these, then you/we have got work to do. Contact me.

 

BID; support Charity; win 30mins of talk-time with me…

BID; support Charity; win 30mins of talk-time with me…

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Just think, 30 minutes dedicated to asking all those niggling questions that you’ve had sitting in the back of your mind for some time but just not got around to asking… NOW IS YOUR CHANCE!

I am proud to be involved with Mummy Mentoring Festival – raising funds for Alannah & Madeleine Foundation.

I have donated 3 sessions to help wonderful women, working from home, all across Australia.

 Check out this great charity event and how you can win a 30min phone session with me or any one of 37 mentors from all fields of expertise/business.

BIDDING STARTS TOMORROW 26 October… go forth and win!

http://bit.ly/1Yxa8OY

ARTICLE: When is the Best Time to Buy a Business? for ABN.org.au

ARTICLE: When is the Best Time to Buy a Business? for ABN.org.au

australianBusinessWomensNetwork

As a contributing article in the Australian Businesswomen’s Network latest newsletter, this article discusses the best time to Buy a Business:

Quitting life as you know it and looking to buy a business makes the answers to these questions crucial:

What do I want to do?

Why do I want to do it?

Can I afford to do it?

Will I be happy doing it?

Why do I want to take on someone else’s “stuff”?

To explore the answers to these in the Business Buying context, read the full article

#TEMpting: Online Eco Kids Boutique and Blog to BUY…

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This online boutique offers children’s products made by manufacturers committed to earth-friendly practices. Clothing made from organic materials, skincare that is chemical and preservative free, toys made from natural, sustainable sources, bottles and dishware that do not contain hormone-disrupting toxins such as BPA.

Not only is the focus on the products sold, but also the stories behind them. Special care is taken to source items from inspiring makers in Australia and abroad who are designing, innovating and creating fabulous green products, all while adhering to fair trade principles and using sustainable packaging options.

For those making an effort to live a healthier, more sustainable lifestyle, the blog is a valuable resource. It provides news on interesting new products and the latest information on green issues from trusted sources around the world. The newsletter also shares eco-fabulous finds for kids as well as exclusive sales news and giveaways.

The owner has always tried to live a healthy lifestyle and be a conscious consumer. Then when becoming a parent, more attention was paid to the choices made about everything, including eating organic foods, trying to eliminate exposure to toxins and also cut back on the contribution to the local landfill, from food to toys, clothing and bath products. Every decision was given greater consideration, hence the product range for this particular offering in the marketplace.

ASKING PRICE: MAKE AN OFFER
Expected Price Range: $60,000 to $90,000 (plus stock at cost)

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