Diversification is a great approach for your stock portfolio, but when it comes to your business, it may be a sure-fire road to mediocrity. How does Thermomix get away with charging over $2,000 for a blender when reputable companies like Breville make blenders for less than a quarter of the price? It’s because Thermomix does just one thing, and they do it better than anyone else. The problem with selling too many things – especially for a young company – is that you water down everything you do to the point of mediocrity. Go narrow and deep in your business and eliminate competitors from eating your margin.
Is your business sellable? Whether you want to sell in a year or 20 years, would a buyer come along and buy your business today and if so, for how much? Are you building an asset that is worth more today than yesterday? That is something precious! Don't confuse growing your business with building a "sellable business". A business that is big does not mean it is sellable. We feel passionate about helping people get a reward at the end for their lifetime of work. If you want to sell your business one day and get the best possible price we're ready to help you out.
It’s 1 July! Happy new year! Time to get your annual business valuation based on 2014/15 numbers. Having an annual check up allows you to see the progress you've made and identify the areas you need to focus on to take your business value much higher in 2015/16. Contact us to get your free valuation assessment.
Fact 1 - Most people start a business with the notion of making a lot of money and having a lot of freedom. Fact 2 - Most people fail on both counts…… If you're a slave to your own business give us a call and let us help you improve your numbers and your time!
Strategy is the foundation upon which profitable businesses are built. We’re huge fans of Jonathan Byrnes who captures the essence of strategy in 3 core principles: 1. It’s all about customer value 2. Strategy is defined by what you say no to... 3. You have to be best at something
We love quality and today we pay homage to one of the best businesses in our region - Bridge Road Brewers Beechworth. We live in an age where society seems obsessed with chasing as much quantity at the lowest possible price, we have very much largely become a “cheap” society. Beer and pizza being the perfect examples of mass produced, low quality cheap products………. but this place in Beechworth is different, it attracts a different crowd (which is growing) and gives us a lot of hope that this is the beginning of a trend back toward quality. How refreshing and inspiring is it to visit a place that cares to take time to [...]