Boom or Gloom
August 2, 2011 by John Denton
Filed under Selling A Business
What interesting and challenging times we live in.Australian dollar at over $1.10 US – who would have thought!
Australians are saving at record levels and consumer spending is at record lows. Resources are booming but we are now being told that we have a ’two speed economy – boom and gloom’. And today’s meeting of the Reserve Bank board is shaping up as the most closely watched in months, with the decision on whether to raise interest rates expected to be a close call.
Then of course, we have Queensland flood tax (call it a levy! Is it really going to Qld flood victims? Who’s auditing it?). What will the carbon tax mean to you and your business next year when it starts on July 1st? Whose story do YOU buy on that one? The reality is that nobody knows what the flow on will be!
What does all of this change & uncertainty mean to your business? What is it doing to your ongoing profitability? What is it doing to the value of your business? Are you relying on selling your business to fund your retirement? If so, when do you sell?
I am running my half day workshop on “7 Keys To Selling or Buying a Business” on Tuesday 9th August, and will be discussing these issues. For all the details and registration CLICK HERE.
Some things which are showing up in business appraisals are;
Retail is struggling big time
Manufacturing is struggling to compete with China and Asia (What will the additional burden of carbon tax do for them?)
Exporters are struggling with the high dollar
Tourism is suffering from the high dollar
Import and distribution are having a great time. Profits are up due to the high dollar!
SOME WIN AND SOME LOSE! WHERE WOULD YOU PUT YOUR MONEY?
All the best
John Denton
“Helping business owners realise their dreams through buying and selling businesses!”.
For The Record – Mentoring Group Testimonial
July 1, 2010 by John Denton
Filed under Testimonials
From Louise Evans owner of Evans Modelling www.evansmodelling.com
“I am having a fantastic time with the Mentoring group.
Yes, I found everyone a little quiet but I assumed it was because (like me) they were all knuckling down on their own business and implementing the valuable tools we are learning.
The changes in my business and also personal life so far are largely due to the information and knowledge I receive from SBC Mentoring.
I treat each session as re grouping and re analyzing the direction I am headed in.
I look forward to the remaining sessions of this Mentoring session and the advanced mentoring to come.
I am having a fantastic time with the Mentoring group.”
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For information on the mentoring groups CLICK HERE and go to WORKSHOPS
It Always Amazes Me
October 8, 2009 by John Denton
Filed under Buying A Business
Hi Everyone,
Well, interest rates are on the rise in Oz which suggests that the economy is on the up! How will that affect business sales – well we will have to wait and see. Certainly, right now, the market is pretty buoyant with good offers being made and accepted. So, businesses are selling and it reminds me of something that always amazes me.
Why do people always seem to want to change a winning formula? Even before someone buys a perfectly good business they are asking questions about changing it!
Can I take that product range out and add this one?
Can I stop providing that service and make it this one?
I want a new logo!
I don’t want those staff members to stay on, I want to use my friends.
EVEN – I’m going to change the business name!
All that goodwill and reputation which has been developed can be rubbed out by a new owner in 5 minutes! Why do they want to do that? It amazes me.
Sure, any new owner will want to put his own “stamp” on the business. And sure, there will always be areas where improvements can be made and new potential realised. But at least wait until you have been in the business for a month or two and work out what is working and who’s who in the zoo before making any major changes!
Of course, there are always situations where wholesale changes are required. I know someone who recently bought a “struggling” business which was situated in a brilliant location. So the new owner closed it down, spent 3 1/2 months doing major renovations, changed the name and branding and then re-opened. Still exactly the same kind of business but it needed a major makeover. What the new owner was buying, of course, was the location! Perfectly sound strategy.
Another great tip we can learn from his particular case as well, is that when he re-opened he had a “soft” launch. Why? To make sure that all the systems worked correctly, the staff were trained and knew what they were doing and that they could provide the level of quality and service which would make them a standout. Once everything is tried, tested and proven – then will come the BIG launch. Just good plain SMART business. Not change for change sake!
Until next time! Feel free to comment on this article.
Check out my next 1/2 day workshop on developing a business to make it saleable. Go to the “Workshops” tab on this site or just CLICK HERE.
Regards
John Denton
Roger Gott on “The 7 Key Steps To Developing Your Business Ready For Sale”
July 8, 2009 by John Denton
Filed under Testimonials
“A good session if you are starting in business or have been in it for a while. Until you know what is required to sell a business, you will find it difficult to create a successful one.”
Roger Gott – Cove Health Clubs
www.covehealthclub.com.au
Steve Laing on the half day workshop “The 7 Key Steps To Developing Your Business Ready For Sale”
July 8, 2009 by John Denton
Filed under Testimonials
“It doesn’t matter if you are planning to sell next year, in five years, or in twenty – at some point it is likely that you will be looking to sell it. Before you do, it is essential that you know what your business is worth on the market.
If you haven’t thought about how you intend to sell your business when you started it up – and lets face it, many business owners don’t – then this course is essential. You need to prepare for at least three years prior to selling, so thinking about your exit strategy early is extremely worthwhile. I’d recommend this course to the owner of any business so that they can understand how their business is valued, and how to produce a more saleable, and valuable, asset.”
Steve Laing – Ace Scooters
www.acescooters.com.au
John (the Jedi) on Businesses
April 16, 2009 by John Denton
Filed under Testimonials
John Denton’s catch cry and passion is “Building Business’ For Sale or Lifestyle”. John sums it up well in that people mostly started their business for a ‘lifestyle’ reason and then somehow became a ‘slave’ to the business at some level.
John Denton is our “Jedi” knight and his core question… “What’s the objective here?” cuts straight to the bone and stops us from going over ‘to the dark side’ in all our entrepreneurial ‘flair and creativity’.
That objectiveness converts into manageable, implementable and focussed tasks that help us and many others move forward in their business with great momentum.
For those who know the ‘Jedi’ ways John also lives by the “Do… or do not… there is no try” which translates into massive action.
By Peter Butler – Smarter Websites
