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    Answer Upon - Would You Give Away Your Business?

    Collaboration - Exploring Alliances, Partnerships and Teams
    It is getting harder and harder today to do anything without the support of others. The world is more complex and specialized. Finding other people to partner and conspire with not only is often more fun, but the results can be better thought out and more successful. If you are looking for inspiration, now may be the perfect time to think about the benefits of collaboration.FISH IN THE SEAWhere do you meet people that might be possible collaboration partners? Think broadly. Take a new look at clients, competitors, people in your business network, other areas in your company, suppliers, those who serve similar clients, even community groups.To help identify the characteristics of your "ideal" partner, start by taking a closer look at the people and organizations you work with today. Determine which relationships are working the best, and then examine the qualities of these relationships. What
    em>Sell to management or staff (3%)
  • Close the business and sell the assets (3%)
  • Don’t know (4%)
    • Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on t

    Restaurant Food Costing - Save Money and Increase Profits
    Every restaurant can benefit from proper food costing. Food costing is one of the most important elements for making your restaurant more profitable. Costing out your food enables you to have complete control over how much you spend on food and allows you to price your dishes for maximum profit, as well as good value to your customer.Typically, food costs should account for around 1/3 of a restaurant's expenses. The food cost along with labor and overhead costs should account for more than 2/3 of the total expenses. Above that is the profit the restaurant will generate. Since food costs are one of the highest expenses for a restaurant, food costing is viewed as one of the best ways to increase profitability for a restaurant who needs to generate more profits to stay in business.There are a number of ways you can analyze and optimize your food costs. First, you can do this manually, by thoroughly an
    A Business Exit Plan can have a number of different connotations. You may hear it referred to as a Succession Plan.

    At Superb Coaching we have taken a deliberate stance in focussing on the ‘EXIT’ because we are dealing with the business owner’s plan to remove themselves from the business. Yes, there are issues around succession management that we address however we feel that the Exit Plan needs to address more than just succession.

    Your Business Exit Plan should deliver the following objectives:

    1) To maximising the capital realisation from the transfer of ownership

    2) To achieve this realisation in a reasonable time frame

    3) To minimise the risks as consequence of change or during the period of change

    In a survey conducted by the Australian CPA in 2004, it was found of business owners gave the following reasons for undertaking a plan.

    • Age (21%)
    • New business opportunities (11%)
    • Forward planning/looking to the future (11%)
    • Good business practice/logic/common sense (9%)
    • Succession/business for children/need it to continue (8%)
    • Wanted to make more money / opportunity to grow (7%)
    • View to retirement (6%)
    • Wanted to sell out/been in it too long (5%)
    • Wanted to get it right this time/needed direction (3%)
    • Need time with family/death in family (2%)
    • Low business performance (2%)
    • The work overload (2%)
    • Family break-up (2%)
    • GST too much/taxation purposes (1%)
    • Illness (1%)
    • No real reason (5%)
    In other research conducted in the UK, a number of leading factors were identified as contributing to SMB exit failure. These included.

    · Businesses with lifestyle and personal rather than strategic goals

    · Poor business performance

    · Managerial dependence on owner

    · Ignoring the need to make arrangements for exiting

    In Australia we have some 40% of SMB’s totally dependent on the owner.

    So what are your options for exiting the business?

    The following were found as being the most appealing by SMB owners themselves.

    1. Sell or pass on to a child or another family member (25%)
    2. A trade sale to someone in the industry (19%)
    3. Sell to management or staff (7%)
    4. Advertise the business for sale without identifying a buyer (26%)
    5. Close the business and sell the assets (17%)
    6. Don’t know (5%)
    Most interestingly, if we compare the above same list where the business owner was advised by a professional we observe the following preferences.

    1. Advertise the business for sale without identifying a buyer (43%)
    2. Sell or pass on to a child or another family member (30%)
    3. A trade sale to someone in the industry (17%)
    4. Sell to management or staff (3%)
    5. Close the business and sell the assets (3%)
    6. Don’t know (4%)
    Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on th

    Security Camera DVR: Finding the Type That Suits You
    Not all security camera Digital Video Recorders, or DVRs, are created equal. Remember this as you look for security camera DVRs for your business. There are great DVRs, good DVRs, and DVRs so terrible you cannot tell what you're looking at.DVR stands for Digital Video Recorder. It is faster and easier to manage than non-digital and analog systems. Moreover, it provides instant access to recorded or live video. You need not worry about storage, too, because the bulk of video that can be stored on a single disc tremendously outweighs that stored on tape. In fact, a single disc is the equivalent of over 30 VCR tapes. What this means is that you get to economize on space use and costs. The bigger your office space and thus, the more cameras you use, the more you will be able to appreciate the money DVRs can save you.There are two main types of security camera DVRs, pc-based and stand-alone.PC-b
    ss owners gave the following reasons for undertaking a plan.

    • Age (21%)
    • New business opportunities (11%)
    • Forward planning/looking to the future (11%)
    • Good business practice/logic/common sense (9%)
    • Succession/business for children/need it to continue (8%)
    • Wanted to make more money / opportunity to grow (7%)
    • View to retirement (6%)
    • Wanted to sell out/been in it too long (5%)
    • Wanted to get it right this time/needed direction (3%)
    • Need time with family/death in family (2%)
    • Low business performance (2%)
    • The work overload (2%)
    • Family break-up (2%)
    • GST too much/taxation purposes (1%)
    • Illness (1%)
    • No real reason (5%)
    In other research conducted in the UK, a number of leading factors were identified as contributing to SMB exit failure. These included.

    · Businesses with lifestyle and personal rather than strategic goals

    · Poor business performance

    · Managerial dependence on owner

    · Ignoring the need to make arrangements for exiting

    In Australia we have some 40% of SMB’s totally dependent on the owner.

    So what are your options for exiting the business?

    The following were found as being the most appealing by SMB owners themselves.

    1. Sell or pass on to a child or another family member (25%)
    2. A trade sale to someone in the industry (19%)
    3. Sell to management or staff (7%)
    4. Advertise the business for sale without identifying a buyer (26%)
    5. Close the business and sell the assets (17%)
    6. Don’t know (5%)
    Most interestingly, if we compare the above same list where the business owner was advised by a professional we observe the following preferences.

    1. Advertise the business for sale without identifying a buyer (43%)
    2. Sell or pass on to a child or another family member (30%)
    3. A trade sale to someone in the industry (17%)
    4. Sell to management or staff (3%)
    5. Close the business and sell the assets (3%)
    6. Don’t know (4%)
    Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on t

    If You Were A Horse Would You Win The Kentucky Derby?
    Imagine the horses all lined up at the gate in the last Kentucky Derby. Successful businessmen/women are just like thoroughbred horses. They must practice, run like the wind and sometimes be driven to make it first through the line. Like a horse race the majorities are losers and only a few are Triple Crown winners.We know that the majority of horses are not of the quality and disposition to ever be entered at the Kentucky Derby. Some might actually run in their local races but are not skilled enough to go beyond their home town. The vast majority of horses will be used for nothing but manual labor and the occasional ride through the farm.Business men/women are much like horses. The majority of people will only work for a living, a few might become small town business owners and a select few will play in the chance to win millions of dollars. What makes these thoroughbreds different then the rest o
    oad (2%)
  • Family break-up (2%)
  • GST too much/taxation purposes (1%)
  • Illness (1%)
  • No real reason (5%)
    • In other research conducted in the UK, a number of leading factors were identified as contributing to SMB exit failure. These included.

    · Businesses with lifestyle and personal rather than strategic goals

    · Poor business performance

    · Managerial dependence on owner

    · Ignoring the need to make arrangements for exiting

    In Australia we have some 40% of SMB’s totally dependent on the owner.

    So what are your options for exiting the business?

    The following were found as being the most appealing by SMB owners themselves.

    1. Sell or pass on to a child or another family member (25%)
    2. A trade sale to someone in the industry (19%)
    3. Sell to management or staff (7%)
    4. Advertise the business for sale without identifying a buyer (26%)
    5. Close the business and sell the assets (17%)
    6. Don’t know (5%)
    Most interestingly, if we compare the above same list where the business owner was advised by a professional we observe the following preferences.

    1. Advertise the business for sale without identifying a buyer (43%)
    2. Sell or pass on to a child or another family member (30%)
    3. A trade sale to someone in the industry (17%)
    4. Sell to management or staff (3%)
    5. Close the business and sell the assets (3%)
    6. Don’t know (4%)
    Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on t

    The Best Conference Call Services For Business
    Q. I truly think that a conference call service is something my business can use. What are some available conference call services for business needs?A. Conference call services for business need range from very to simple to very elaborate. Whether or not you are able to benefit from these services is entirely dependent upon the type of business you are in, average budget and also whether or not this is a one time thing, or is it going to be frequent? Since none of this information was specified, I'll just cover them all. First of all, the question as to what exactly is a conference call service? Well a conference call service is basically a company that does all of the legwork involved in a conference call for you. All you have to do is decide what time you want the conference call and who you are inviting. They handle everything else. A lot of conference call services for business
    Sell or pass on to a child or another family member (25%)
  • A trade sale to someone in the industry (19%)
  • Sell to management or staff (7%)
  • Advertise the business for sale without identifying a buyer (26%)
  • Close the business and sell the assets (17%)
  • Don’t know (5%)
    • Most interestingly, if we compare the above same list where the business owner was advised by a professional we observe the following preferences.

    1. Advertise the business for sale without identifying a buyer (43%)
    2. Sell or pass on to a child or another family member (30%)
    3. A trade sale to someone in the industry (17%)
    4. Sell to management or staff (3%)
    5. Close the business and sell the assets (3%)
    6. Don’t know (4%)
    Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on t

    Traits of a Leader: First Lead Yourself
    Strong leaders understand that to successfully lead others they must first be able to successfully lead their own lives. Being the leader of your life takes the following: self-awareness, humility, maturity, self-confidence, and objectivity. It also takes the ability to receive criticism from others and accept that you may not always be right or may not always have the best answer. Most of all there must be an openness to learn and change.Here are seven things you can focus on to lead yourself first:1. Balance external forces with your own internal thoughts – Too often we allow external forces to push us into things even though we may not fully agree with the direction. Your head and your heart are strong internal gages. You can listen to the world around you and then check in with your heart. Your emotion will respond. Check in with your head. Your knowledge will answer.2. Learn new
    em>Sell to management or staff (3%)
  • Close the business and sell the assets (3%)
  • Don’t know (4%)
    • Of significance is the fact that 43% of owners surveyed planned for an on-going income stream from the business after exit. This is a double-edged sword.

    Not only do owners want to maximise the value of the sale value, but they are also looking for an income stream to support their future lifestyle.

    It becomes apparent that apart from the broad range of matters that need to be addressed, maximising the value of the business is paramount to anyone considering exiting from their business.

    The experience of Australian CPA’s has found that the barriers to SMB’s maximising business valuation included:

    · The business is too dependent on the owner

    · The business costs are too high

    · Out-of-date technology

    · Processes are not documented

    · The business owner is not prepared to commit time preparing for a sale

    · A lack of potential buyers

    · The business does not achieve a reasonable return

    · The owner has unrealistic expectations about the value of the business

    So what can You do to maximise the value of your business and any on-going income stream you might be looking for?

    You need to develop your Business Exit Plan ensuring that it is integrated into your business’ strategic plans. You need to involve yourself, your family and your staff. Most importantly, you need to plan ahead.

    At Superb Coaching we focus on implementing 7 Key Strategies for our clients.

    1. PLANNING We firstly ensure that our clients have a current Business Plan that is being actioned. We then address the matter of the Business Exit Plan.

    2. STRUCTURE Does your business have the right structure supported by a culture of leadership and team development fostering the business objectives?

    3. FUNCTIONALITY Do you have the right people sitting in the right seats on the right bus? Are lines of responsibility clearly defined and followed? Does the business have points of individual dependence?

    4. SYSTEMS Are the business systems supporting the operations? Are they effectively utilised and do they work in with the business processes? Are there effective performance measurement systems in place?

    5. PROCESSES Are the systems and processes appropriately documented? Are the business policies and procedures up to date and understood by the staff?

    6. DISTRIBUTION Does your business effectively apply relationship management to select partner businesses for building your customer base? Are there opportunities to attract better qualified customers and increase turnover?

    7. POSITIONING Your success in the market will be driven by the market’s perception of what your business is really about. Acknowledgement of your position can only be achieved by ensuring that your business is totally aligned to this position in everything it does.

    Yes, profit, turnover, financial ratios and asset value are critical as well, but these generally are what are referred to as “lagging indicators”. They only tell you about what has happened in the past, the history of the business.

    To maximise your business value, you should also pay attention to demonstrating the “future” potential of the business. This is achieved by measuring “leading indicators”.

    Adopt the 7 Key Strategies and you can be assured that you will be delivering to the future potential of your business.

    Now your business is really appealing to a potential investor or buyer. They have assurance over past performance and confidence in future capacity.

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