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What are the main barriers to effective succession?

06/10/16 - Exit Planning

I’m often intrigued when I read in the press about rather large family-owned businesses which are impacted by family and succession issues. These disputes are nothing new so why is it that they seem to raise their heads time again.

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Beginning at the end…9 step process for achieving your exit plan

06/10/16 - Exit Planning

In business management guru, Stephen Covey’s, best-selling book, The Seven Habits of Highly Effective People, beginning with the end in mind was a top habit of his. This got me thinking. Why is it that so many business owners don’t have a clear picture of what they want their business to look like when it’s ‘done’?

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Railroad tracks at sunset

Funding options available for innovative businesses

06/10/16 - Financial Performance, Growth, Innovation

The Federal Government has indicated that they are very keen to support innovative businesses. There are a number of funding options available by way of government grants for businesses that can meet the Government qualification requirements.

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Cash: can a business have too much?

06/10/16 - Financial Performance

I was recently asked by a client whether they were holding too much cash in the business. My answer was – it depends. It depends on a number of things as well as the reasons for the cash build up. There are economic, commercial, financial and structural issues to be considered.

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Three key ratios for business success

06/10/16 - Financial Performance

I'm often asked by business clients whether a certain dollar profit is good. My answer is always the same - it depends. The fact is, no one can tell you whether a specific dollar profit figure in isolation is a good result or not. It's just like asking someone whether the $1,000 in interest you received from the bank is a good return. You can't answer the question until you know how much they had invested in the bank - and so too it is with a business. I use three main ratios in which to assess the financial performance of a business.

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Know your change potential

06/10/16 - Growth, Innovation

Why is it that some businesses seem to be able to constantly reinvent themselves while others get left behind? Read about what characteristics can make a business more or less able to adapt to change.

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Key lessons for business owners from the Dick Smith saga

06/10/16 - Financial Performance, Growth

The recent collapse of the Dick Smith chain highlights the fact that no business is immune from potential catastrophe. But it begs the obvious question – how can a company as big as this and turning over $1.3 billion – a listed company – fail? No doubt we'll hear more in the months ahead as the receivers get to work. However, the lessons are the same for every business - from the corner store, to family businesses, to listed companies.

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