Success Enterprises Consulting Quarterly

Welcome to the 1st edition of Success Enterprises Consulting Quarterly.
In this edition:

  1. Using Business Valuation as a Strategy Tool
  2. Remember, Remember, Mo for Movember
  3. The Plan for 2009 - Do you have one for your business or are you just going to use the HOPE STRATEGY again?

Here's to your success!
Steve Wood
Director

"HOPE"

IS NOT

A STRATEGY

Using Business Valuation as a Strategy Tool

How much is my business worth? Can I use this information to drive business strategy? We think it can.

A client asked us this question recently. They want to know how much their busines was worth so that they might consider selling it.

We teamed up with Mike Williams of Maxell Consulting to help the client understand what their business was worth, and then we helped them through the hard thinking process of "What to do about it now that we know?"

Read more ...

Remember, Remember, Mo for Movember

Who would like to have a business that turns over more that A$20m pa, from Australian and overseas clients, using only 10 paid staff, and literally thousands of unpaid individuals generating revenue and collecting the funds promised?

For a bit of fun, we took part in this years Movember Event.

We have received alot of grief over the facial hair that has sprouted this month - but in the process have raised A$1070 by the time that all the outstandng pledges have been collected. The blog certanly helps for keeping track.

Ritual humiliation at the IMC Xmas event - a public shave off this week- raised by itself A$200.

Read more ...

The Plan for 2009 - Do you have one for your business or are you going to use the HOPE STRATEGY again?

The HOPE STRATEGY. Where you carry on as normal and HOPE that things will turn out ok in the end!

With the environment the way it is now, Hope is not a good strategy. We'll talk about a few things that you can do in your business that will definitely be better than HOPE.

Read more ...

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Using Business Valuation as a Strategy Tool

  • We established a valuation for the business as it is today. Lets say an amount A$ X.
  • We showed the directors a roadmap of the range of actions that they could take that would increase the value of the business to A$ 2X or even up to A$ 5X.
  • Based on the service we provided, the directors decided to not sell the business, but rather to invest in it and make appropriate changes that would allow them to benefit greatly from that investment.
  • They then focussed on the important issues that needed to be addressed to move the business forward.

The strategy changed from "I want to sell this business and focus on something else" to "I want to keep this business and manage it to obtain the value for ourselves that is there".

"Thanks Steve. When we first started this project we were intent on selling the business, but were not sure how much it was worth. Now that we have a better view of the strategic options available to us and a better understanding of what we now need to do to create that extra value, we have decided to not sell the business but rather to invest in it and change how we run the business to create and harvest the extra value that is clearly there.

I am very happy with the service you have provided and would be pleased to recommend you to others who need some good, solid business advice"

William R, Managing Director

Rememeber, Remember the Mo in Movember

  • "Oh I do not like that". "How much do I have to pay you to shave it off?"
  • The amount of grief I have received is amazing from individuals who have not seen me with a Mo(ustache) before. Interestingly, I had one for about a year around 6 years ago. I must be a slow learner because I had grief then too.
  • The donation process started slowly, but pick up nicely, once I had written a simple article outlining what Movember was all about. And the blog space helped.
  • I was amazed to learn how well the business has managed to receive as donations A$20 m last year.
  • At the gala parté on 29th Nov the organiser announced that in Australia A$11m has already been raised. Impressive. Have a quick look at the leader board. The leader at the time of writing has raised over A$30,000. Now that is impressive.
  • For those of you who do not want to miss out on the feel good factor, you can still make an online donation at http://au.movember.com/mospace/2092131

The Plan for 2009 - Do you have one for your business or are you going to use the HOPE STRATEGY again

  • If you are smiling at this point, this is about you.
  • HOPE as a strategy is ineffective. It does not work.
  • You are better off having a clear think about your current situation and then doing something different.
  • People might argue about the power of positive thinking ... and many do ... but in the end (shock, horror) you have to actually DO something.
  • If you are pushed for time, I'd do three things
    • STOP doing something that is painful, that absorbs a lot of time, and appears not to get the results that you want.
    • DO MORE of the things that give you the highest revenues and profits.
    • REPEAT
  • Too simple for you?
  • Then take some time out over the holiday period.
  • WRITE down what you want to achieve over the next 24 months, 12 months and 6 months.
  • Be clear about what success looks like for you at each of those points - and how you are going to measure yourself.
  • Then when you get back to work in January - just work very, very hard at meeting the little milestones that get you to the target that you want.
    • WORK HARD
    • KEEP FOCUSED
    • DON'T STOP UNTIL YOU GET THE RESULT