Category: Strategic Planning

Once you’ve sold your business and received the proceeds, you’re faced with a big question: What happens next? After guiding the helm of your company, it will be tough to let go after selling your business. But if the circumstances are right, there’s no reason why exiting the business should be a sad occasion. You’ve…

Every business has a finite lifespan. Some may last for decades, while others may only last a few years. As a business owner, the life of your business is likely to be strongly aligned with your own life goals and personal plans for the future. When the time comes to sell, it’s important to know…

Imagine if you were suddenly unable to run your business tomorrow. How smoothly would things continue for your operations and those who depend on them? We share why a business succession plan is important to your overall business strategy. Securing Your Business’s Future Succession planning isn’t just about retirement. In the event of an unforeseen…

Selling your business is a significant decision, reflecting years of dedication and hard work in building its success. When the time comes to sell, boosting your business’s value and securing its future becomes critical. Five Steps to Prepare Your Business for Sale Preparing to sell a business is rarely a quick process. Most owners start…

A succession plan is about maximising the value of your business to achieve a better outcome when it’s time to exit. Many business owners don’t consider a succession plan until they are ready to sell. However, defining and executing an effective succession plan takes three to five years (minimum). That’s something to keep in mind!…

Starting 1st July 2024, the Victorian government has introduced a new 1% property tax on land value. This change impacts how stamp duty applies to these properties. Existing owners are exempt until the property sells, triggering a 10-year countdown for the new tax. In this short video, Ewen shares some of the changes and how…

Generally, an exit strategy is implemented years before the planned exit date. This gives you time to work on your sale plan, deal with any succession issues, and, crucially, add additional value to the business before a sale. Understanding Your Business’s Sale Value Every business has its unique sale value based on size, asset worth,…

Owning a business can be brilliant, but you might not want to do it forever. Whether you’re ready to retire, want to cash out, or just need a break, at some point, you will probably want to move on from your business. Even before that time comes, you’ll need a plan for stepping back. Options…

The world is evolving at an unprecedented pace. Industry changes, global trends, and environmental factors will influence the timing and strategy behind your succession plan. The Need for Change and Innovation A successful and profitable business can’t afford to stand still. Unmanaged change and disruption can erode your business’s value—consider how online shopping transformed retail.…

Succession planning involves preparing for the future transfer of ownership of your business. It ensures a smooth transition and helps minimise stress, maximising the outcome during a potentially challenging period. Read more about succession planning here. Why Succession Planning Matters Succession planning is about defining your vision for the future and the steps needed to…

Late payments can wreak havoc on a small business’s cashflow, causing unnecessary stress and financial strain. If you are struggling with overdue invoices, fear not! We can help you optimise your cashflow. Here are six straightforward tips to expedite payment processing and get your cash flowing smoothly: Invoice Without Delay: Don’t wait to send out…

In times of economic uncertainty, small businesses face heightened vulnerability. Despite sluggish sales, overhead costs and payroll obligations persist, necessitating proactive measures to ensure financial resilience and sustained growth will help strengthen cashflow in your business. Plan Ahead and Take Proactive Measures: Anticipate upcoming expenses and assess potential revenue shortfalls. Initiate discussions with suppliers or…