When people think about the term ‘brand’ they often think only of a brand’s visual manifestation, i.e. the logo and livery. But a brand is much more than that. A brand is the sum of all you say and do in relation to your products and services, plus consumers’ personal experiences with these.  It is the relationship, or connection, between an organisation and its customers ..read more

Whether your business turnover is $300k, $3m, $300m or $3b, your business’s brand and reputation is integral to its value. So how can you avoid and manage risks that may harm those critical elements of your business? To answer that question – and many others – I invited crisis management expert and brand strategist Richard Amos (pictured) from Royce Communications to join me on the latest Let’s Talk Business podcast ..read more

A successful business purchase is about doing your homework up front and making sure you are well prepared. In business circles this is called ‘doing your due diligence'.  Due diligence is not just for corporate players buying blue chip, listed companies – it’s just as important in the small and mid-cap business market. Do I need to undertake due diligence? Buying a business is one of the most significant investments you will make in your lifetime. If you were considering buying a business and there was an identifiable risk of a negative event  ..read more

Recently, while staying in Melbourne at an internationally recognised hotel, I struck up a conversation with one of the senior waiters in the restaurant. He was in his mid-20s and mentioned he had Malaysian heritage. He was a former University of Adelaide student, having completed a bachelor’s degree in hospitality just over 12 months ago, and had been working at this hotel since graduating. I asked what his career plans were. He told me he wanted to gain experience and work up to managing a large hotel, like the one he is working in now. He planned to do that for a few years then, ideally, s ..read more

Succession planning is about protecting your business against the risk of failure should key people - including yourself - leave. People often confuse the practice of business ‘succession planning’ with ‘retirement planning’. They are, of course, very different concepts. Succession planning is a valuable activity for any business, at any stage, regardless of whether the owner is considering retiring, selling or staying with the business for many years to come ..read more

A few years back, we were delighted to partner with business branding experts Richard Amos and Mike Wilkinson to create our ebook: Brand and Corporate Identity for Small to Mid-Sized Businesses. In this cheat sheet we have distilled some of Richard and Mike’s valuable tips for establishing and maintaining a successful brand identity. Click on the image to download a pdf version of the cheat sheet ..read more

In this video I list four components of an annual business plan and drill down a little into some of the business issues you should cover under each of those four elements. An annual business plan should encompass three core concepts: Where is the business now? Where do we want the business to be in the future? How are we going to marshal the resources we have and which we can influence to get there ..read more

From our many years of experience, we’ve identified that some of the most successful business owners are astute risk managers. They systematically apply methods and practices to identify risks and mitigate them, which helps the business take advantage of upside risks and protect against potential downsides. Risk management might sound like a ‘dry topic’, but it’s critical to business success. Our ebookRisk Management Fundamentals is a free resource to help you identify and manage risk in your business ..read more

We created our ebook – How to have a healthy business and a healthy life – to get you thinking about your health and wellbeing, and how that impacts you personally, and, in turn, your business. It’s time to put yourself first. Running a business – whether as an owner or a senior manager – can be hugely rewarding. As well as sharing the financial rewards – and risks – that come from being in business, there is the satisfaction of driving a business to improve performance and deliver to its clients and people. However, all that responsibility can add extra pressure and stress, and take a hefty ..read more

Being able to prove repeatability of earnings – with robust data and a reasonable level of confidence – is key to maximising business value on exit. As a business valuer I often need to have difficult conversations with clients who assume their business value will be based purely on past performance. They look longingly at past results and say: “Based on those fantastic results I think my business should be worth X. Why are you saying it’s only worth Y?” My response is: “I’m sorry, but someone coming into the business will not see the benefit of those past earnings. You’ve had the benefit of ..read more