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All Articles
The keys to successful strategic planning for small business
10/10/16 -Growth
In my view there are two major problems facing small business when it comes to strategic planning. The first is not knowing where they're going and the second is failure to implement. Businesses adopting the “Now-Where-How” process manage to overcome this issue.
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My magnificent seven tips to improve Return on Capital Employed (ROCE)
06/10/16 -Financial Performance
So often we read or hear in the media about the latest fast-growing business. Everyone seems to focus on the growth of the business but what is the real measure of business success? When I review the financial performance of a business, the primary measure I look at is Return on Capital Employed (ROCE). Generally, if this rate of return isn’t high enough it is usually a sign that some things aren’t quite right in the business.
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Top five tips and traps for developing an effective succession plan
06/10/16 -Exit Planning
I was recently asked what I thought were the secrets to good business succession for a family-owned business. As in most things in life what it really boils down to is effective communication.
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Family business succession strategy – communication is the key
06/10/16 -Exit Planning, Family Business
In over thirty years advising family businesses, the most successful succession plans I’ve seen have been the ones where there was solid stakeholder engagement – in other words – good communication within the family. Even if you think everyone is aware of what is going on and generally on the same page, don’t leave things to chance for people to fill in the blank spaces. Fill them in for them.
View ArticleHow to add thousands to your bottom line
06/10/16 -Financial Performance
Just like in our own household, waste costs the average family business tens if not thousands. However, the business owner doesn’t just incur the yearly cost, but the multiple of that cost when a business is sold.
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Three reasons businesses don’t have cash
06/10/16 -Financial Performance
There's an old saying - profit is opinion, cash is fact. That's because despite making a profit, some businesses still don't have enough cash to pay the bills. At the end of the day, a lack of cash will kill a business.
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Superannuation strategies: a comprehensive guide and tips for small business
06/10/16 -Personal Wealth
For many business owners, superannuation can be a confusing and complicated place. This needn’t be the case.
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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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Use your customers to fund your business growth: debtor financing explained
06/10/16 -Financial Performance
Traditionally thought of as a lender of last resort, debtor finance companies should not be overlooked as a source of funding for growing businesses, provided the business is profitable.
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