Date: 23/03/2018 | By: Gill Hutchinson
For your business to be valuable – and sellable one day – you need some way to generate sales after you’re gone.  Many business owners hire a superstar salesperson to replace themselves as a rainmaker but that’s a trap.  By replacing yourself with a single salesperson, you’re simply trading a dependency on you to dependence on a sales rep, and your business will be no more sellable as a result. When we analysed the users of The Value Builder Score,… Read More
Date: 09/03/2018 | By: Gill Hutchinson
The value of your company 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 The Value Builder System™ and we found 10 things that will make your company more valuable than its industry peer group.   Recurring… Read More
Date: 02/03/2018 | By: Gill Hutchinson
If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel?  A hub-and-spoke model is only as strong as the hub, the moment the hub is overwhelmed, the entire system fails. Acquirers generally avoid hub-and-spoke managed businesses because they understand the dangers of… Read More
Date: 22/02/2018 | By: Gill Hutchinson
In any negotiation, being the person who makes the first move usually puts you at a slight disadvantage. The first-mover tips their hand and reveals just how much they want the asset being negotiated.   Likewise, when considering the sale of your business, it is always nice to be courted, rather than being the one doing the courting. The good news is, the chances of getting an unsolicited offer from someone wanting to buy your business are actually increasing.  … Read More
be more productive
Date: 16/02/2018 | By: Mike Gardner
Do you feel like you’re busy all day and yet you achieve very little? Do you have a sense that you need to be more productive? Mike Gardner aka The Time Doctor - and a BizSmart Select Member - tackles this subject regularly in his blog posts. And he has also delivered a webinar which gives you “10 Ways to Be More Productive”. After all, whether you work for yourself or someone else you will need to be both organized… Read More
Date: 16/02/2018 | By: Gill Hutchinson
Business owners have been known to refer to due diligence as "the entrepreneur's proctology exam." It's a crude analogy but a good representation of what it feels like when a stranger pokes, prods, and looks inside every inch of your business.   Most professional acquirers will have a checklist of questions they need answered if they’re considering buying your company. They'll want answers to questions like:   When does your lease expire and what are the terms? Do you have… Read More
Date: 09/02/2018 | By: Gill Hutchinson
You've done the hard work of winning a new customer, but it's what you do in the next 90 days that determines if it'll stick around.   The first 90 days of any new relationship are critical: A prime minster has about three months to inspire the electorate and gain the political capital he needs to govern. A young team prospect has but a few months to impress his coach before being sent down to the minors. A new CEO has… Read More
Date: 08/02/2018 | By: Kevin Brent
How to find your Hedgehog! We now have a Vision – and if we’ve followed the steps in our previous tutorials we will have a Powerful Vision that we believe in.  If you’ve got a senior team then hopefully you have involved them in creating it and we will then have made an important step in galvanising the business around a common set of values, purpose and direction. [capture_email]You can listen to the webinar Click Here or keep reading to find out… Read More
Date: 07/02/2018 | By: lizpaintercommacomma
Dave Perrigo of Perrigo Consultants in Stourport on Severn first started working with BizSmart five years ago, at the point where he started his business. Dave is a chartered tax lawyer, and Perrigo Consultants is a tax specialist accountancy firm. Initially, BizSmart helped him to put in place the right foundations for his business and come up with a detailed business plan.   More recently, Perrigo Consultants has worked with BizSmart again as part of the Worcestershire Business Accelerator Programme.… Read More