Financial Advice
There’s an old saying: Sales is Vanity. Profit is Opinion. Cash is Fact. That description of sales is probably a bit harsh as every business does have to have make sales. No sales means no profit and definitely no cash. To paraphrase George Orwell in Animal Farm: “Not all sales are created equal”. Chasing sales [...]
“I’m very busy” seems to be a badge of honour amongst small and medium sized business owners. Adrian Misiano, Partner of Matthews Steer (a northwestern Melbourne Chartered Accounting practice) notes that he is frequently reminding his SMB clients that being busy isn’t necessarily a good sign about how well the business is doing: they may [...]
Continued from Part 1: Before the Exit During The Exit SLH: Let’s now turn to the “During” stage of exit. What should be happening when the exit process is actually underway? CMcG: The “During” stage can be anything from years to a relatively short period of time. It depends on what you are intending to [...]
2011 marks the 65th birthday for the first baby boomers, the first of a generation moving into official retirement age. This is also marks the start of a changing of the guard at many business, whether as sale to third parties or inter-generational transition. Succession and exit will be high on the business agenda for [...]
Guest Contributor: Chris McGlinn This is the weirdest recession I’ve ever been involved in (and, yes, I’ve had a few). … house prices are going up, unemployment is going down (at least according to the latest figures), retail sales are rising (in March), the sharemarket is rising, disposable income is rising because of lower petrol [...]
In recent articles in Ruminations, I have been banging on about the need for business to evolve and adapt in order to remain competitive in the internet age. And yes, I’ve been practicing what I preach: over the last 6 months, I’ve been researching and investing in training, tools and platforms necessary to successfully operate [...]
This guide to successful hires by John Smith, CEO of DSTpeople4business, supplements the main article Attract, Develop, Retain. 1. Clearly Define The Specifications Of The Role. Whilst this may sound obvious, it is extraordinary how often businesses fail to correctly identify the role that is really needed for the businesses. Let me give you two [...]
For many SMB owners, their business constitutes their retirement nest egg. The ability to realise the maximum return on the sale of business to fund a well-earned comfortable retirement requires at least five years, if not more, of preparation and planning. So guess what happens? Just when you are ready to exit, the Global Financial [...]
As the economic recovery gathers momentum, attracting and retaining quality staff in a tightening and competitive labour market are at the top of the agenda for many businesses. As Jim Collins observed in the international best seller, Good to Great [Harper Collins Publishers Inc., New York (2001)]: The old adage, “People are your most important [...]
“What if?” is – or should be – the most frequently asked question over the next two months as businesses start to put together the budget for the new financial year. If there’s one certainty in the current global economic crisis, it is to expect the unexpected. One can’t predict what is going to happen [...]
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