Recently, this article was published on the Australia Small Business Blog, with my contribution focused predominately on the benefits of using a Business Broker, like my good self:
“If you are going to be dealing with a business broker, make sure they are licensed with the relevant State body. The Australian Institute of Business Brokers (of which I’m a member!) has links to the various State licensing authorities. When exiting your business, you should seek some professional advice – however even an accountant or solicitor have limitations on the scope of the guidance they can offer around the valuation and sale of a business.
A qualified business broker can help in many ways. They will prepare you for the due-diligence that a buyer conducts. They know that a buyer or investor besides looking at the current profitability of the business, evaluates the extent to which it can run independently of the seller, as well as examining the scale-ability of the business. In other words, it’s capacity to actually handle growth and maintain profitability with any increase in the volume of sales generated”
Continue reading here: http://www.australia-small-business.com/2015/07/exiting-your-small-business.html
For all entrepreneurial mothers, a day to invest in both yourself and your business.
Between 10am and 5pm October 15, work ON your business.
No doubt, this is probably the first time in a long time!
All details are here http://bit.ly/18Obdud
Look forward to seeing you there, as I am doing the Exit bit.
I was pondering this very question myself just yesterday…
A Business Owner called, who has made the decision to sell her own business. She wanted advice on how to best do that, anonymously, over the phone. Cheeky? perhaps.
Useful? She was pleased.
But, how far do you go?
And then I came across this great article from “The Business Bakery”. I’ve pulled the key bits out for me and suggest you read the entire article…
There are five reasons to work for free, which one is it?
1.It’s good “exposure”
This is the most common reason for being asked to do a freebie. The idea is that you give your product for free and lots of people will hear about you. Donating cakes to a function or writing a column for a magazine are examples.
2.It will give good credibility
This is when you do something for free for a well know person or large organisation because it gives you credibilty. So making a birthday cake for Nigella Lawson would give heaps of credibility.
3.It’s a way to trial a new product
Sometime you give a freebie because you need to have a go with a real life customer. This could be your first wedding cake
4.It’s for family and friends
Not totally unreasonably, family and friends expect the occasional thing for free. The trouble comes when pretty well all your customers are family or friends…..
5.It’s for someone who ‘needs’ it but can’t afford it
We’re often asked to give freebies for “charitable” reasons.Mostly these are genuine requests but there are some shonky people out there.