Red Book helps guide your clients to the value of their car but what helps them understand the value of their business? In many cases this is their primary means of income and acts as capital for their retirement plans. An accurate business valuation helps ensure your client does not leave money on the table…
We recently advised a client David (53), owner/operator of a successful business providing professional services to the building and construction industry. David had started thinking about retiring and believed all it would take is not getting out of bed to go to work. Until he spoke to us, David was looking forward to retirement. He…
In this 4-part series, David Young, Director of Azimuth Partners, shares some useful tips on growing profitably and explains some common mistakes that business owners make in their growth stage, that eventually leads the business towards insolvency.
Azimuth Partners received a request from the bookkeeper of a Butcher business. The business had been newly acquired but the business acquisition was not a normal acquisition. There was no real due diligence done on the business and there were some false representations made by the seller of the business to the purchaser, which ultimately…
Azimuth Partners received a referral from an insolvency firm in relation to a large, multi-faceted retail business that was facing some financial difficulties. The business was heavily debt laden. The owner hadn’t paid some creditors for three years and was managing to subsist on a day-to-day basis on turnover. In addition, the business was also…
Two years ago, we were asked to value a client’s business. The valuation came in at a significantly different figure to what the client had expected. Once we were able to stabilise operations, we investigated some reasons why. A major part of the reason was that the business was very owner dependent. The business…
Q: Where was your business when we were first introduced? And where is it now? And how have we helped you through that process? Client: At the time, out of 7 real estates in the area, I was probably sitting about number five and now I’m sitting at number one. I’ve gone through probably the hardest three years…
Identify and prioritise your business, personal and family goals. Business Life Planning is an effective way of addressing the growth and succession issues facing you in your business. Our Business Life Planning Program provides a process to critically assess your business and business life, providing you with a clear understanding of where you are, where…
For business owners, running a successful business is often challenging enough, but succeeding in business in the current tough times for many has become a real nightmare. However, there is good news: you can implement simple measures to improve the probability that your business succeeds even in these tough times. Here are 3 examples: 1.…
