Aligned businesses key to good sale
Aligned product providers and competitors would see the most strategic value in purchasing a financial planning business and therefore should be considered as part of a business owner’s succession plan, according to Succession Plus.
Risk management, governance key to succession
Robust risk management and governance processes are cornerstones for financial planning practices seeking to develop and fulfil a succession plan for their businesses.
Speaking at the Succession Planning Day 2016 in Sydney, jointly hosted by Succession Plus and financialobserver, Succession Plus New South Wales partner David Cambridge said the most successful enterprises had and followed set processes.
How the CEO gets paid
The employee compensation practices of publicly listed companies are of great interest to employees, investors, business media and researchers alike.
They are also influential in shaping public expectations and by extension, the policies and practices of private companies.
Which businesses are selling?
In the third quarter of 2012, there were 20,000 businesses throughout Australia up for sale. Six months later, it was 32,500 and by the end of 2014, the number hit 41,200.
Some are calling it the sell-off of a generation; too many Baby Boomer sellers entering their mid to late 60s, wanting to get out of their respective games.
Exit Coach 20M Interivew: The Impact of Exit Panning – Craig West
Craig West discusses the impact exit planners can have by helping prepare financial, business, and personal matters.
Employee share plans could turn brokerage employees around
Brokers could be making more use of employee share plans to engage and motivate their employees to think and act more like business owners.
Maximise the value of your business for a successful exit – Part 3
For every business there is a strategic buyer who will pay more for your business simply because they benefit more than most other buyers.
What do we need to prepare to attract the right buyer (who will pay more) and convince them of our value and finally make sure they sign the cheque?
Advisory businesses need to be boutique or scale
Advisers need to position themselves as running either a boutique business or one that takes advantage of significant scale, according to a succession planning expert.
“Accounting practices and financial planning firms fit somewhere in the spectrum between boutique or scale,” Succession Plus chief executive Craig West told attendees at last Friday’s selfmanagedsuper NowInfinity SMSF Strategies Day in Sydney.
Maximise the value of your business for a successful exit – Part 2
Last week we looked at the results of the 2013 MGI Australian Family and Private Business Survey (Read part 1).
Succession (or exit) will happen to you sooner or later, and it is important to take charge and manage the process rather than just let it happen to you. I have worked with many business owners who have successfully done this, and in so doing have devised excellent exit strategies.
Maximise the value of your business for a successful exit – Part 1
Most business owners go into business planning to maximise the value of the business and extract that value (most often by selling) when they exit.
But the research tells us that most don’t have a plan or strategy around how to do this and therefore often fail to either maximise or extract the value, or both.
Begin with the end in mind
Steve Covey’s second habit is ‘Begin with the end in mind’ – this means that every decision we make in business should be made considering our ultimate exit strategy.
It sounds simple - Unfortunately, however, most people lose sight of the strategic management of their business and this vital habit ends up not being followed.
SMEs note rising insurance costs
More than half of SMEs say insurance and workers’ compensation costs have increased noticeably in the past year, a new survey shows. About 37% report significant rises in utility costs, 53% in technology costs and 51% in wage bills, according to the SME Association of Australia study.
