John Denton - Preparing Businesses Ready For Sale

Boris Bikes - Great Business Idea! Occasionally I spot something...

Sun, 30 Dec 2012 16:17:11 +0800

Boris Bikes - Great Business Idea!

Occasionally I spot something and think “Gee, that’s a great business idea!”

That’s what went through my mind when I saw a business recently during a trip to London.

It impressed me because I thought what a great idea to reduce traffic congestion in a city centre. It has many other benefits too. For example, it is also helping to reduce pollution from motor vehicle exhausts whilst providing locals and visitors with an inexpensive, convenient and easy way to get around the city. This is what the business looks like…(see photo above)

Automated bike hire! (Knicknamed Boris bikes after Boris Johnson the Mayor of the City Of London) When you look at it as a business it ticks a lot of boxes. One of the biggest ticks for me is the fact that it runs without the business owner having to be there! It’s all done by some simple mechanics and machines to process credit card payments. People just serve themselves!

One of the key things about developing a business to a “ready for sale” state is making it independent of the owner. It’s an area many business owners struggle because they don’t systemise their business and they are reluctant to delegate. These two things are probably the top two reasons why business owners stay stuck in their business, and why it makes the business difficult to sell!

One of my consulting clients is making great progress in these areas and it’s great to see the staff taking up the challenge of the extra responsibilities. Often, as business owners we underestimate the abilities of our staff and their desire for my ‘meaningful work’! As they take on more work and responsibility it frees up the owner to work ON the business and less IN the business. All of which helps to grow the business, making it more valuable, and makes it more attractive to buyers.

Think! What would a new owner have to be able to do and be prepared to do, to replace you in the business? How easy or difficult would it be to find buyers like that?

Do you have a sales system and process in your business? Want help? Contact me!

Sell A Business - Seller Beware

Mon, 23 Jul 2012 15:11:25 +0800

Sell A Business - Seller Beware: Don’t Blow Your Money When Trying To Sell A Business! This...

End Of Financial Year - An Opportunity

Wed, 20 Jun 2012 11:46:06 +0800

Hi Business Owners, It’s almost the end of another financial year – well at least it is in...

Business owners: make sure you don’t build the business “around” you, who you are...

Fri, 25 May 2012 17:21:54 +0800

Business owners: make sure you don’t build the business “around” you, who you are...

Know What You Need To Know When Buying A Business

Wed, 02 May 2012 10:15:59 +0800

Know What You Need To Know When Buying A Business: When I am asked to help a buyer who is looking at...

More Impediments To Business In Perth CBD

Tue, 01 May 2012 10:41:46 +0800

Obviously “key economic advisory group” members are NOT business owners in Perth CBD....

It’s great when you spot a business which “sets high...

Tue, 10 Apr 2012 12:48:07 +0800

It’s great when you spot a business which “sets high standards” and pays attention to detail. Here is a small and not serious sign of a business which doesn’t pay attention to detail or train staff to maintain standards.

This table was set for three people! We all had a choice of style of glass we wanted to drink from! This quite funny example occurred in a very good cafe in a local shopping area.

It was funny rather than serious, in this case, but reminded me of how a lack of attention to detail can detract from an otherwise good business. How well do you set standards in your business AND train staff to maintain them?

This is a major supermarket and retail strip in a shopping...

Wed, 21 Mar 2012 22:32:00 +0800

Major Supermarket at 1.00 pm Tuesday

View from my table in the cafe

The main retail strip

The main retail strip

This is a major supermarket and retail strip in a shopping centre in suburban Perth, at 1.00 pm on a Tuesday lunch time! And we’re told by the Federal Government that WA and Perth is still booming. The economy is not just slowing - IT’S STOPPED! Well for these retailers it is.

I took these photos because I was so shocked to see this shopping centre so quiet at 1.00 pm on a Tuesday. I couldn’t get over the lack of people at a normally busy time of the day. I could have driven my car in and parked it in the centre and not hit a soul!

Who’d be in retails at the moment?

What Value Do Social Media Marketing Systems Add To A Business?

Fri, 03 Feb 2012 11:58:00 +0800

What Value Do Social Media Marketing Systems Add To A Business?: When a prospective business buyer...

And they wonder why they have problems ....

Thu, 02 Feb 2012 07:09:03 +0800

In Australia we are famous for the “She’ll be right, mate!” attitude. Unfortunately, when it comes...

Thanks for the feedback!

Tue, 31 Jan 2012 19:24:45 +0800

Thanks for the feedback!: John Denton - working with business owners helping them prepare their...

John Denton on “Why I got in to this business!”

Tue, 31 Jan 2012 07:37:40 +0800

John Denton on “Why I got in to this business!”

Put Everything Through Your Accounts

Tue, 31 May 2011 08:27:06 +0800

Today’s tip - put everything through your accounts! Why? Because taking cash out of the...

Structure & Clean Up Your Financials

Wed, 25 May 2011 22:48:48 +0800

If you want your business to be saleable at some point in the future, then it really helps to have...