Season’s Greetings from Baton Advisory!
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Phone 1300 4BATON (422 866)
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International +61 7 3088 8089
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Phone 1300 4BATON (422 866)
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International +61 7 3088 8089
Monthly Cartoon
Don’t mix business with pleasure!
Working with your best mate sounds great – just make sure that you also employ the right professionals.
Everything is relative!
Know the market (or engage an expert who does!)
Selling your business can drive you crazy!
Pricing, offers, negotiations, employees, due diligence, satisfying conditions, earnouts – all enough to send the sanest person crazy!
When the kids won’t take over the business
Don’t want to, different skills, parents need the money etc etc. Often Plan B will be third party sale – time to prepare!
Selling your business when you are ill is tough
It’s hard running a business when you are sick. It’s even harder selling a business when you are sick and haven’t planned your exit.
Stay Contemporary
You don’t have to leading edge but businesses that ignore technological change may be left behind and become worthless.
Show Me the Money!
“Show Me the Money!” Potential, reputation, location, contented staff and many other factors make a business attractive but ultimately the key thing investors look for is a history of profitability. As Jerry Maguire shouted “Show Me the Money!”
Don’t leave it too late!
Many people don’t appreciate the time it takes to sell their business and achieve a full exit if there are transition and earnout arrangements. A successful sale also need planning and preparation time. Act now!
Sweet Dreams (Are Made of This)
Every business owner dreams of the day that someone will throw money at them to buy their business. Some people’s dreams come true but for most the reality is harder work.
“There’s a hole in my (revenue) bucket!”
Buyers expect businesses to have sales and marketing plans to continuously fill up the “leaking bucket”!
Look after your key people!
Look after your key people! Buyers prefer businesses with key employees in place so operations can continue smoothly when ownership changes.