One of the things I sincerely love
about being human on earth is crash landing into people who just simply fit
into a part of your apparel of life. iBidAM has been proud to bring you
Notes From Dave's Brain, and we have
decided we will continue to bring you a great range of guest writers we crash
into along the way, who we believe will add immeasurable value to your
business. We can tell you everything you need to know about Advertising
& Marketing, but it's nice to have Alliances with people who not only know
their stuff when it comes to SME's, but are genuinely passionate about sharing
that knowledge with you. It's targeted to you the budding SME, and well
we just love our allies. To us they're more like; bruvers in the hood!
Now without further adieu, I would
like to introduce to you Richard Pascoe from Businesbuild.com.au. Richard is the co-owner of
Business Build.
He has been advising and consulting to businesses all over Australia since
1994, previously holding various positions from high level store management to State
Analyst for Coles Myer. Richard's expertise
encompasses merchandising, administration, stock control, negotiation,
financial modeling, staff management and IT. Richard has also owned and
operated 2 successful retail businesses before starting Retail Brokers.
I'm very impressed with Richard's
level of enthusiasm and integrity for what he does for SME's and I'm very
excited he will be sharing his expertise with us at the iBidAM Blog. Over
to you Richard.....
Thanks Louise......
NOW - HAVE YOU JUST BOUGHT A BUSINESS? WELL, GET READY
TO SELL IT!
You
have bought your business and are settling into the day to day running and
trying to increase sales or maintain sales. Many businesses when changing hands
can drop up to 25% of sales due to the previous owner’s involvement so it pays
to be prepared when you take over to counteract any decline.
However
one of the key aspects when you go into a business or have just started a
business is to begin to get ready to sell it.
Let
me explain.
One
day after a few years you may decide it’s time for a change and you want to get
out of your business. You prepare the profit and loss for the accountant,
decide on an agent to sell it for you, and it is on the market. What will the
agent do for you, advertise the business and point potential buyers in your
direction show them the profit and loss, and if it sells, take their
commission.
You
are the best salesperson for your business and need to help the agent if you
wish to maximise the sales price for your business. Remember the agent will be
interested in one thing, the commission.
Firstly
you need a handbook for the running of your business which covers everything
possible on the day to day running of your business, and will demonstrate how
you achieved the profit and the sales. A good handbook will allow you to
increase your price because you are minimising failure from the new owner.
Next
show detailed figures on the percentage increase of customers, the percentage
increase of dollars per customer, before and after pictures to show how you
have developed the business over time; this will assist in the selling of the
business.
Finally
stand back and take a critical look at your business and give potential owners
ideas on how they can develop the business further
A
profit and loss along with the agent will only do so much; you are the best
salesperson for your business.
I'm Richard
Pascoe from www.businessbuild.com.au,
and I'm signing out......
Thanks Richard. To find out more info on how to make your new
journey in your business a road to success, get cracking and hop on over to Business Build.
www.businessbuild.com.au
CALL
AUSTRALIA
WIDE : 1800 300 301
