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    Write You - Would You Give Away Your Business?

    The Core Principles of Budget Planning
    When it comes to budget planning you need a solid plan that will map out what it is you need to be doing with your money. If you don’t have a budget then you are out spending money and really aren’t making sure you have enough to pay your bills or even that you have enough set aside for emergencies or retirement. So, it is important to have budget planning software that will help you create your budget and follow it each month. That way you will spend only what needs to be spent and save whatever amount it is you want to save. Budgeting software is excellent because it does all the work for you!The first and most important aspect of budget planning is determining how much money you make each month and how much you must spend. The “must” refers to necessities like food, gas, car payments, house payments, and those general living expenses that are necessary. Work out your budget based on these numbers. Once
    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    · Out-of-date technology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’ strateg

    The Rising Demand For Easy-Care Clothing
    Today’s world is a busy world. Every one is busy with something or the other. Lifestyles of people all over the world are becoming more and more active. In this frenzied world, people are looking for things that are as easy to use and maintain as possible. The same applies to clothing. Consumers desire ‘hassle-free’ or ‘easy-care’ clothing that would require minimum maintenance. The demand for such easy-care clothing is growing. Today’s consumer wants clothes that would perform multiple uses, that is be used at work, at parties and also for after-work activities. These clothes should be durable and easy to care for. Comfort combined with practicality is what the consumers are looking for these days.The topmost factors desired by consumers in their clothing are a good feel, ease in wearing and caring for the fabric, durability and price. However, it has been observed that consumers are even ready to shell
    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 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’ strateg

    Business Angles and Sportsbetting
    Sports betting, like any investment, carries risks and rewards. The parallels between betting on sports and playing the stock market are many. In fact, I would argue that they are exactly the same for all intents and purposes.Placing a bet on a team and hoping for a win is no different than buying a particular stock and hoping for a rise in price. There are few differences between sportsbooks and brokerage firms. Both are middlemen who charge you a fee for their services. Both the sports bettor and the stock player are after a return on their investment (profit).If a person buys a stock and it falls instead of rises in price, he loses money, or has a negative return on investment. If a sports bettor bets a team to win and that team loses, he also has a negative return on investment.Calculating a return on investment is simple. Divide any profit by the amount risked to get it. If you bet $10
    s 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 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’ strateg

    South Korean Business - An Introduction To Business In Seoul
    Seoul, as the capital city of South Korea, is a growing and strong economic area, and now one of the main trading posts in Asia. Korean people have a very traditional business culture and practices and understanding the Korean culture is thus very important if you wish to succeed in business in Korea. Understanding the Korean way of doing things is essential. This article aims to throw light on the Korean business market, Korean business strategies, Korean business trends and Korean business culture.Korean business is well known for its vertical social structure based on age and social status. Korean companies' organizational arrangement is highly centralized with authority concentrated in senior levels. Individuals having high rank likely to have more authority than their subordinates. Superior's approval is necessary for finalizing a decision.In Korean business settings, superiors assign responsi
    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 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’ strateg

    Make Money From Your Lack Of DIY Skills
    Are you one of those people who have a fascination with power tools but no knowledge or time to use them? Do people ask to borrow a tool from you or ask if you know of someone who has a special piece? If so, you can make money off those tools just lying around.Did you know it can cost thousands of dollars to buy all the different type of power tools, and many of those tools you may only use a couple of times? Well, now just imagine having to spend anywhere from twenty dollars to easily a hundred dollars to rent one tool. Think of what it cost to buy your tool, and now divide that in half, this should be the cost of a deposit. Then take the cost of the tool and divide it by ten, this should be how much you rent it out for.So say that you have a power tool that cost 300 dollars, and divide it in half, to get $150.00 that is how much you would charge for a deposit. Then take the $300.00 and divi
    i>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 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’ strateg

    Business Coach - What A Business Coach Can Do For You
    A Business Coach can be thought off as being similar to a sporting coach. He is responsible for the complete business domain knowledge. A business coach is a trained and certified professional who can help clarify a business owner's goals and chart out a plan of action to meet them. Engaging a business coach is to realize your business goals. Small business owners are paying for a business coach as an investment as business owners are realizing that a business coach is their key business advisor who is helping them with their businesses.A strategic business coach asks you to ask yourself several key questions strategically about actions and ideas you are currently contemplating. In addition, their roles continue to coach business owners to improve businesses through support, guidance and motivating. The impact of working with a business coach is incredibly positive because a business coach is trained to m
    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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    Booth Space Can Help ANY Business... (Reflections From My Experience In Vegas)

    This past week in Las Vegas, at the Hyatt Lake Las Vegas, our company SEO.cc had our first official booth space at the Acesthetics group conference. The experience was awesome and we learned a lot. It was amazing to realize being at the event that it had very little to do with actual sales, but a ton to do with learning about our potential clients and industry networking.

    Bookmark it: del.icio.us digg.com reddit.com netvouz.com google.com yahoo.com technorati.com furl.net bloglines.com socialdust.com ma.gnolia.com newsvine.com slashdot.org simpy.com shadows.com blinklist.com


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