Blog

CREATING AND UNDERSTANDING A BUSINESS FORECAST

Today I’m talking about business forecasts – an important part of your business plan. Forecasts help you to predict your businesses income and costs. Business owners and managers often tell me that working out a business forecast can be tricky. Of course none of us has a crystal ball, but we don’t need to know exact sales figures to create ...
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HOW TO SELL YOUR BUSINESS – PT 4 THE PROCESS

Today I’ll be looking at the actual process of selling your business – from employing a business broker, to meeting prospective buyers, due diligence and the contract. So where do we start? Employing a transfer agent or a business broker You’ll need to employ a transfer agent or a business broker to manage the sale for you, unless you have ...
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HOW TO SELL YOUR BUSINESS – PT 3 PREPARATION

In my last 2 blogs I’ve explained how businesses are valued. Today I’ll be looking at preparing your business for sale – whether it’s a partial or full sale. Before you start preparing your business for sale, you must decide whether you want to leave the company or whether you want to still play a part. Perhaps you want to ...
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SELLING YOUR BUSINESS – PT 2 THE VALUATION

Today I’ll be talking you through some of the more detailed terminology that professionals use. I’ll be looking at preparing the business for sale and the sales process in other blogs. This is based on UK legislation, but is relevant to most markets and jurisdictions. The sales process includes negotiations with your buyer so you need to understand the different ...
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SELLING YOUR BUSINESS – PT 1 THE BUYER’S NEEDS

There‘ll come a time when even the most committed business owner decides to exit the business and sell it, or pass it on to another. So how does that process work? What do you need to think about? How can you be sure you’re getting the best price? How long does the process take? When’s the right time to sell? ...
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HOW TO FALL BACK IN LOVE WITH YOUR BUSINESS

Over the last few years, Nozey Parkers have been receiving more and more calls from business owners, asking for help. They are working really long hours, they have lost their focus, and their personal relationships are suffering. They feel they’re on a treadmill and their business has become a burden. They‘ve lost that passion. Does this sound familiar? Perhaps it’s ...
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WHAT’S BEST – BUSINESS COACH OR BUSINESS ADVISOR

So, what’s the difference between a coach, mentor, consultant or a business advisor? If you have your own business it’s highly likely that you’ll want to hire business support. This might be a coach, a mentor, consultant or a business advisor. You may have had experience of working with one or more. Was it a good experience? Did you hire ...
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WHAT’S RIGHT FOR YOUR BUSINESS? EMPLOYEE OR CONTRACTOR?

Today’s blog is especially relevant to business owners who are considering bringing more people into the company. I’m going to give you an overview of the pros and cons of using employees or using contractors. Most new business owners do most of the work themselves when they start. You’ll recognise the list of tasks from administration and accounts, to sales ...
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HOW TO CHASE YOUR CUSTOMERS FOR PAYMENT

Today I’m talking about chasing payment as part of good credit control. Your business has provided the goods and services. There isn’t a dispute over delivery times or quality. The payment terms and conditions were agreed and signed. But there is still no payment. You’ve sent the emails, and made the calls. The monthly statements have gone out, showing the ...
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KEEPING YOUR CUSTOMERS HAPPY

Every business owner needs customers to survive. In a previous blog I talked about why your customers might buy. It’s great getting that initial sale from a new customer, but you want them to keep buying, long into the future. This blog covers how to keep your customers happy so they will stay with you. Founder of Wal-Mart Sam Walton ...
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