Diversification is a sound financial planning strategy, but does it work for business building? How does Vitamix get away with charging $800 for a blender when reputable companies like Cuisinart and Breville make blenders for less than half the price? It’s because Vitamix does just one thing, and they do it better than anyone else. WhatsApp…
If you’re wondering when is the right time to sell your business, you may want to wait until your company is generating $1 million in earnings before interest, taxes, depreciation, and amortisation (EBITDA). What’s so special about the million-dollar mark? The million-dollar mark is a tipping point at which the number of buyers interested in acquiring your…
One of the tools a great coach uses is metaphors to impart lessons and insights. I have used the following metaphor with many a client struggling to sort out their business and take back control. Ok, so up front this post is going to be a little crass but I promise a light bulb will…
You know it’s time to get rid of the business, that is sell the business and either move on or step aside for a management team if you can’t grow as a leader or you won’t grow as a leader. One of the immutable laws in business is that the business will never outgrow its…
Big public companies trade at a significant premium over small businesses in the same industry because investors perceive big, sophisticated companies as a safer bet than small, owner-dependent companies. Looking at some USA examples (minimal data available for Australian market) Let’s take a look at the professional services industry. Although most consultancies are a small…
You already know that your company’s sales and profits play a big role in how much your business is worth. Do you also know the role cash flow plays in your valuation? Cash vs. Profits Cash flow is different than profits in that it measures the cash coming in and out of your business rather than…
The value of your business is partly determined by your industry. For example, cloud-based software companies are generally worth a lot more than printing companies these days. However, when we analyse businesses in the same industry, we still see major variations in valuation. So we dug through the data available to us from our partners at…
We see it all the time… business owners throwing good money after visually appealing marketing ‘strategies’ that do nothing for their bottom line. Or who treat marketing like an item on a check list … the only objective is to get it done, not get it done right. But let’s be clear… nice brands and completed…
Hey business owner. For the next couple of months I will be practically giving away books to help you grow your business. Yes, for ONE lonesome dollar (ex shipping) you can get access to proven strategies which I use with clients, and in my own business, with great result. Some of the titles I’ll…
Recently I came across an interesting article written by Marilee B. Sprenger called How to deal with Toxic Employees. It went into depth on what a ‘Toxic Employee’ looks like, what they do, and what you should do in response. Before I give my take on this article, here’s a short summary of what…
