What Strategic Planning Can Do For You | Free Book

The Australian Securities and Investments Commission released a report into corporate insolvencies that found 44 percent of businesses suffered poor strategic management, 40 percent had inadequate cash flow or high cash use and 33 percent suffered from trading losses.

Strategic planning allows you to:  

  • Monitor the direction of your business and steer it onto the best path for future growth and success.
  • Optimise performance, adapt to changing circumstances such as changes in technology, market expectations or the competitive environment, and plan for major events, both internal and external.
  • Regularly and consistently assess whether your business decisions are correct and optimised to meet your goals. 

 The benefits include: 

  • Clarity about the business direction
  • Better customer satisfaction and engagement, leading to sales growth
  • Optimised business value• Sustainability: improved work / lifestyle balance for owners or managers
  • Identification of new opportunities • Increased profits
  • Smooth exit and succession
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4 Keys To Skyrocket Your Business Valuation

As a business owner you are probably aware that there are many different factors that “drive” or impact the value of your business. There are so many in fact that if you were to make an exhaustive list it would likely fill several pages. If you had such a list where would you start?

If I were in your shoes I would want to start on the ones that have the “biggest bang for the buck.”

But how do you know which ones those are? I would like to give you a couple of clues that will start you down the right track. Before we get to that however, we need to talk about some of the motivations that buyers have when considering the purchase of a business.

Buyer Motivations

The following are some of the more common motivators for purchasers of businesses:

1. Many (more than you might think) are looking to “buy a job”;
2. To take control of their own destiny. The desire to be their own boss is a very real and very strong motivator for a considerable number of purchasers;
3. To realize an acceptable rate of return;
4. To achieve a market position or presence that they didn’t previously possess;
5. To eliminate competition;
6. To achieve “economies of scale” by way of cost savings, access to capital, vertical or horizontal integration, etc.;
7. To gain access to patented technology or processes;

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Business Owner Help | Play Short Video Below

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 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

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