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How Much Is My Business Worth?

If you are planning to sell your business, it’s clearly an advantage to have an objective valuation of what your business is worth. A valuation should ensure that all the hard work you have put into the business will be taken into account and included in the price.

However, a valuation can be important at other times as well. It can be useful if you are seeking investment capital, taking on a partner, or selling shares. A valuation can also indicate how you compare to your direct competitors. It can identify the strengths and weaknesses of your business. When a valuation identifies weaknesses, it can help you focus on building long-term value into your business. This will improve your outlook in terms of succession and estate planning.

However, many companies are oddly reluctant to invest in getting an accurate valuation. Only 29 percent of fast-growing companies have a current business valuation, according to a survey reported by CFO.com. A further nine percent are planning to get a valuation in the next 12 months, while 15 percent have a valuation that is no longer current. Forty-four percent of the companies had either no valuation or no plans to get one.  Continue reading

3 Powerful Ways A Business Plan Can Help

Creating a business plan is one of the most valuable activities you can undertake. Although it takes time, research, analysis and energy – business planning is a valuable process that will give you direction, confidence and resilience.

Read on to find out three powerful ways a business plan can help you succeed.    

 1) A business plan can help you secure finance If you're seeking finance for your business, you'll need to show banks and investors why they should invest in your business.

Lenders and investors will only risk their time and money if they're confident that your business will be successful and profitable.
A thorough and well-researched business plan: shows that you’re serious about your business helps lenders and investors to understand your business idea shows your predicted profits and income streams.

Check out our business finances information for more on how to secure finance for your business.

2) A business plan helps you to prioritise and maximise your efforts

Preparing a business plan will help you work out what your goals are and strategies to achieve them.

This means you can focus your resources and energy on what you need to do, rather than spreading yourself too thin.

The planning process also helps you to consider possible bumps in the road and put a plan in place to better manage them if they do come up. Once you’ve got a business plan in place, it’s a good idea to regularly review and update it to:

  • remind yourself of your goals and priorities
  • assess whether your strategies are working
  • adapt to any new changes in your environment
  • make the most of new opportunities as they come your way.
3) A business plan helps to gives you a sense of control over your business

Going through the planning process can give you a real sense of control over your business and your future.

It helps youto put down on paper many of the ideas, risks and questions that business owners constantly think about, including:

  • who are my competitors and what is my place in the market?
  • who is my ideal customer and how can I best serve them?
  • what are my financial objectives and how will I achieve them?
  • what are the potential opportunities that I can take advantage of?
  • what are the threats to my business and how can manage them?
  • what are my strengths and how can I minimise my weaknesses?
So instead of worrying about the future, you can more confidently ‘get on’ with business knowing that have a plan in place to achieve your goals, adapt to change and deal with obstacles that come your way.

Take the first step secure your business future. Ask Jon or Margaret at Unity Management about completing a Business Appraisal. Plus, would $20,000 of Government Grant Assistance help to write your business plan? 

Call us today on 02 9011 5220 or email info@unitymanagement.com.au to enquire.



Australian Government | Business – business.gov.au
Excerpt from industry.gov.au

http://www.business.gov.au/news-and-updates/News-and-features/Pages/3-powerful-ways-a-business-plan-can-help-you-succeed.aspx

  Continue reading

The day will come when you want to, or have to, leave your business. To make the transition to the next owner as smooth as possible, and to get the maximum return for yourself, you need to start planning now. These are just some of the benefits you will derive from early succession planning:

• The business survives the change in ownership/management and continues on as a profitable entity
• You will identify and address family or shareholder issues before they become disagreements and a threat to the business’ continuity 
• You can minimise tax liabilities and maximise return
• It will ensure an orderly transfer of control and competencies
• The business and future leadership will be ready for the transition   Continue reading


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