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 firstname.lastname@example.org
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?
OK, so you’ve decided to embark on an Online Strategy.
After going through the “Why” exercise, you’ve decided that it makes sense to do so.
WHO IS GOING TO DO IT?
Thinking of your typical offline business, if I was to ask you to draw up the organisational chart, who’s name will feature?
If it looks something like this, how do you propose to add the online activities in now as well?:
Management = YOU
Marketing = YOU
Sales = YOU
Operations = YOU
Financials = YOU
(Mentor = the entrepreneurial mother® of course! 🙂
Layering another load of activity on your shoulders, without taking care of the offline day-to-day, doesn’t make sense does it? You may be no better off and in fact go a little backwards because you’ve put yourself under even more pressure…
As you are well aware by now, if your Business solely focuses around YOU and selling it is was what you eventually want to do, then taking on even more does not equate to sound business practice now does it?
Starting with the end in mind TODAY, regardless of how old your business is means you start to, slowly but surely, systemise your Business so you can replace your name in each of the WHO boxes. Executing your Online strategy is no different.
Think about what you want to do and who else can do the rest?
And of course, how an arrangement can be struck whereby it is fair and equitable for both parties…
Starting a business is a BIG deal. Building it to become more than your hobby is even bigger again. In fact, building your business into an asset may result in it being possibly the largest asset you’ll ever own, or second maybe to your home.
If trying to sell it is what you eventually want to do, getting strategic about WHAT it is you’ve got and how it is someone else could do it is key. The Online Strategy question features more and more as part of this discussion.
What is the “story” of your Business?
Each business has its evolutionary history, as well as its current story, which is all-important. More buyers now are also asking about the online history and requesting the statistics to back it up. If you’ve gone down the path of being online, be sure to track all the important information about this channel, as it will be requested. If you have not got online (yet), there needs to be an apparent “why” to satisfy the question.
What does your Business sell?
List everything; not just the features, but the benefits to your consumers as well.
- Why do they buy from you?
- Did your Business always conduct business the way it currently does?
- If not, what has changed? Why the current choice?
- What other options are open in your market that you haven’t done yet?
These questions definitely require an online and offline response.
How can you prove how well your Business Model has been working?
Profit – that’s what a buyer wants to know about.
This scorecard is very important to a prospective buyer because that’s what they will base a lot of their “valuation” decisions on. The records, both offline and online, provide evidence that your Business is the worthy asset you claim it is.
Starting with the end in mind TODAY, regardless of how old your business is, means you can start to, slowly but surely, assemble, lock in and gather the answers to each one of these questions, to be able to convey to a potential buyer WHAT it is they are buying…
Then I have the answer for you…
We’ve all read in the papers recently how the job market is drying up.
So, where does that leave those of us who are too young to retire and too old to be the next BIG thing in the job market?
For the last 30+ years, Hurst Business Brokers has been selling businesses on behalf of Business Owners. They have helped thousands to succeed. Going through the process of selling so many times has helped identify what it takes to be an ideal Business Buyer!
More specifically, Denise Hall has been concentrating on the “Saleability” of businesses (not for the 30+ years mind you!) and as a result, is keen to share her insights on what to look for and what to expect as a Business Buyer. Choon Ng also brings along his expertise to share.
When you’re swept up in “Buyer DESIRE”, what do you do?
For the first time ever, Denise and Choon will be presenting the game plan for success as a Business Buyer. On offer is two hours of marketplace education. This special mini workshop is a chance to learn from those in the business of business directly and start your journey to fulfilling your Buyer DESIRE..
Who Is It For?
This program is for those who want to explore what it takes to buy a business, especially if you’ve not done it before.
What We’ll Cover:
Our mission is to help you be a better Business Buyer… so everything we talk about will be aimed at that. Specifically we’ll cover:
· Getting yourself Buyer READY!
· What’s expected from the Seller side
· How the market works
· Success stories and failure points
· The update on our new Buyer DESIRE in-depth workshops
Melbourne: November 27th, 4pm
in the Corporate Business Brokers boardroom.
Numbers are limited due to the intimate nature of the Boardroom, so if you can make it, book now by replying to this email.
Please also bring along your Business Partner to be, as your guest.
Be sure to add their name to your reply email.
I look forward to seeing you there.
If you can’t make this one, please let me know that you’re interested regardless and we’ll invite you along to the next one.
This get your Buyer DESIRE back in control 🙂
Given this time of year, with its ever-increasing pace…
how well have you looked after the people you serve? Really?
Could you have done better?
What will you do better?
“Truly understanding how you are perceived by your customers is pivotal to growth and development. One path to achieve this, is making the commitment to become “brutally” customer-centric. This requires exploring your customer’s journey – and gathering information about key “touch points” along the way. What do your customers really think of your sales organization? Product offerings and processes? Your level of service? You may be completely surprised to hear what your customers are really thinking (and experiencing) – and we can learn so much from them.”
Read on… https://www.linkedin.com/pulse/20121207153333-128811924-it-s-not-about-you-it-s-about-your-customers