Our Insights

As business owners we often want to feel essential to the success of our business.  Some common quotes from business owners are:

“My Customers are totally loyal to me”

“I am the face of my business”

Given that the average age of business owners within Australia is currently 56, it is more likely that you will be a "Baby Boomer" business owner yourself.

This can pose a number of issues for you and your business.

It is critical that business owners have a succession strategy. Many people are led to believe that succession means selling.

This isn't necessarily the case, however, as there are a variety of succession strategies available that are not widely considered by business owners.

Youve grown your business gradually, and now your mind turns to collecting your reward from your investment of capital, know-how and years of effort.

Achieving the most money for your business requires the same diligence it took to grow it.

So how can you ensure you receive a return for your efforts?

If youre in business, you should be aware of the changing nature of accounting software. Historically the most common business accounting software for small business was MYOB or Quicken. However the past few years has seen a seismic shift to Cloud accounting.

Enter Xero.

When selling a house making sure that the gardens are tidy, the interior is clean and pest treatments are up to date are all simple matters that can be taken care of before inspection times. This will attract the eye and cheque book of the purchaser with little need for negotiation.

A shortfall in this gap can have a significant impact on your retirement plans, forcing a re-think on your desired standard of living in retirement. Not ideal. Or worse - it may mean you cant afford to sell!!

Well, Ive come to the final leadership series blog. Focus.

I'm sure everyone will recognise the need to focus when they're involved in a task or action.  Something like driving the kids to school takes focus to keep on the right side of the road, all the while with warring factions and arguments going on in the back seat.

We generally think of competence as the ability to do something. Catch a ball, drive a car, perform CPR. Or lead.

A competent leader will leader by example, to show that they can and are willing to do what needs to be done.  They show up each day ready to get stuck in and are consistent in their approach.

Communication. Seems to be a problem at one time or another in each and every business and personal relationship.

Im sure there are plenty of marriages and business partnerships that would be still humming today if the communication had been better.