Sell A Business - Seller Beware →
Don’t Blow Your Money When Trying To Sell A Business! This will be a short post as I want to get it to you quickly. I have advised clients about this in the past but following a recent marketing campaign by a firm claiming to be business brokers, I thought I should re-post this message. Basically, there are a few large corporations out there making claims to be business brokers and selling...
End Of Financial Year - An Opportunity
Hi Business Owners, It’s almost the end of another financial year – well at least it is in Australia. The end of the year is a good opportunity for reviewing your business performance over the last year as well as setting strategies, goals and plans for the coming year. One of the opportunities which is often overlooked, is the opportunity to restructure your chart of accounts in your accounting...
Business owners: make sure you don’t build the business “around” you, who you are and your qualifications etc. That is not very appealing to a buyer who has to come in and replace you! When building a business ready for sale, remember to think like a buyer. For example, don’t use your name in the business name! Don’t build the web site all about you! Separate...
Know What You Need To Know When Buying A Business →
When I am asked to help a buyer who is looking at buying a business, the meeting is usually me asking a long series of questions. Many of the questions end up being questions which the buyer should be asking the seller in relation to the business and their reason for selling. At the end of the meeting with the buyer, they will often say “Thank you, now I know what I need to know and what...
More Impediments To Business In Perth CBD
Obviously “key economic advisory group” members are NOT business owners in Perth CBD. According to the Business News headlines email today; A congestion charge, where motorists pay to enter the central business district at peak times, should be introduced in Perth, a key economic advisory group has said. The West Business owners in the Perth CBD are already complaining about the lack...
What Value Do Social Media Marketing Systems Add... →
When a prospective business buyer is looking at a business, an area which is becoming more and more important in their decision making is “marketing systems”. Especially the social media marketing systems like the ones used by many larger businesses and corporations. More and more business owners and business professionals are using social networks to build relationships, meet new...
And they wonder why they have problems ....
In Australia we are famous for the “She’ll be right, mate!” attitude. Unfortunately, when it comes to legal contracts and the exchange of large sums of money if “She ain’t quite right mate!” then it can end up costing someone a lot of money, time and stress. And none of us need any more of that. An example is the legal entity of the seller’s business and the buyer’s business. It’s one of the...
Thanks for the feedback! →
John Denton - working with business owners helping them prepare their businesses for sale or lifestyle, and sometimes selling them as well. Testimonial I tried a very well known company in Perth to sell my business. After one interview and a look at some basic figures they said; “it wasn’t worth anything and they weren’t interested”. After picking myself up I started asking around and was...
Put Everything Through Your Accounts
Today’s tip - put everything through your accounts! Why? Because taking cash out of the business is both illegal and dumb! If your business type attracts a multiplier of say, three times net profit at point of sale - and you take $20,000 cash out of the business (off the profit) - then it costs you $60,000 at point of sale. Dumb! And illegal! And we will not take it in to account. I need a...
Structure & Clean Up Your Financials
If you want your business to be saleable at some point in the future, then it really helps to have your financial reports structured correctly. Then it needs time to “wash” through the business. With the end of a financial year approaching this is a great time to review your bookkeeping / accounting practices. See my post on this at CLICK HERE