Bomaderry: 02 4421 5866 | Moss Vale: 02 4868 1366
The start of spring brings warmer weather and the start of the cricket season.
Whether you like cricket or not, its hard to ignore as Australia’s number one summer sport. Its a bit like doing your tax; businesses either look forward to this time of year or try to ignore it for as long as possible.
Ignoring or delaying a decision to cut the fat from your business will significantly impact your business performance, cash flow and future survival.
And it has some excellent lessons for businesses that face pressures due to change.
So what are the typical warning signs?
You'll get some things right and some things wrong - but you'll learn a lot from what happens.
In short, due diligence is an investigation.
And when it comes to buying a business, a proper due diligence process makes sure you get value for money.
The key to operating a successful business and making money in an economic downturn or recession is to know where your business performs well and where it can improve.
A shortfall can have a significant impact on your retirement plans and may force you to reassess your desired standard of living in retirement.
Worst case - it can mean you cant afford to sell.
“My Customers are totally loyal to me”
“I am the face of my business”
This isn't necessarily the case, however, as there are a variety of succession strategies available that are not widely considered by business owners.
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?
On the way out 2 of the 3 kids were mucking around in this tiny school bus.
There are many examples of businesses getting in the ready mode for growth, change or advancement.
02 4421 5866
Suite 26 Bunberra StreetBOMADERRY
02 4868 1366
Shop 8, Calaroga Centre1 Kirkham StreetMOSS VALE