Step 1 Analyse your Business Identify all the measurable features of your business such as revenue, number of customers, amount of repeat...

8. Ineffective sales funnel Getting leads is essential for any company, but your leads are worthless if they don’t convert. Many new...

Regardless of your preferred exit option, your business should by now present an attractive proposition for any prospective buyer which...

Step 2 Take your total sales and then break these sales figures up by product group or major products. Compared to last year, are your...

More than 300 busineses fail in Australia on a daily basis. Why? Reasons include: Lack of planning, Lack of capital, Economic conditions,...

Srep 5 In this step you summarise steps 1 - 4 by analysing all the factors that affect your business. This step consists of summaring...

Of course, there are external factors that businesses have no control over. Sadly, the COVID-19 Pandemic is a prime example of one. Since...

Step 4 All busineses have some form of competition whether it be from direct or indirect sources. Businesses might find that they face...

7. Lack of a company culture. There is no happy company without happy employees. You may have a great business model and entrepreneurial...

Step 7 If our business plan is to succeed, we need to make a list of all the tasks required to successfully impliment the plan. Lists of...

Generally, Accounts Receivable (Debtors), are the amount of money owed by your customers to your business by buyers for goods and...

Step3 Having looked at your business, now look at the market. Do you know the total market sales and trends? Will external factors such...

6. Poor management The success of a business comes from the top down. Small business owners are often the only managers within a company....

4. No connection with the target audience The first questions any business owner should ask are — Do I know my target audience and do I...

9. Bad marketing In the early stages of a business, marketing is crucial. The key is to find the right balance between a reasonable...

Once you have identified your personal objectives and the likely timeframe for an exit, you should also think about the external factors...

Step 6 When writing the Business Plan you should be listing the means by which you can capitalise on your strenghts and minimise your...

Succession upon death A company is an eternal entity. Therefore having a company as Trustee for the Fund will continue even after death. ...

Introduction There comes a time when every owner leaves their business. However, few plan properly for succession or an exit on their own...

As a new business owner, what are the traps to avoid from the start? And what can you do to stay in business? By understanding the...