Articles

 5 Steps to successful and sustainable career

Free seminar for business owners and individuals.

5 Steps to successful and sustainable career:

  • Are you just starting your career journey and not sure of direction?
  • Have you thought of transition into new career?
  • Are you seeking advancement at your workplace?
  • Would you like to boost your professional results?
  • Would you like to learn how to make time work for you?

Simple 5 step solution system reveals:

  1. Discover Vision, Mission and Values
  2. Identify empowering beliefs
  3. Focus strategy advantage
  4. Set SMART goals
  5. Create authentic professional and personal brand

When: Wednesday 22/07/2015 at 7.00pm

Where:  Clayton Bowls Club - 37A Springs Road, Clayton South, VIC 3169.

For more information contact David Wilson on 0412 413 061 or email to david@dwa.net.au

 

 

Shared office, co working space, St Kilda, close to the Junction

Great co working office space , close to the St Kilda junction, from $50 per week. You receive a nice desk, chair, internet access, mailing address and access to meeting room.  

Meet and work with people who are community focused with an emphasis  on developing an integrated approach for innovative concepts and businesses.

Email david@dwa.net.au or contact David Wilson on 0412 413 061 , to arrange an inspection and get your place now. 

 

 

How to grow your personal wealth by planning a successful business exit.

Consider the following fundamental questions relative to you and your business;

  • Have you determined how much you will need to fund your proposed future lifestyle after business exit?
  • Are you and your business set-up to reward you on exit for the years of effort, investment and risk of being in business?
  • Is what you receive for your business enough to give you the lifestyle that you have dreamed of?
  • Have you considered the tax implications on the sale of your business?
  • Is your superannuation a significant contributor to funding your lifestyle?
  • Do you know how to exit and the professional advice you will need.

Join a panel of industry experts for a FREE breakfast seminar, which is guaranteed to leave you with a better understanding of the answers to these and other critical questions.

DATE: Tuesday 26 May 2015

TIME: 8:00am – 10:00am

VENUE: Port Phillip Room, Sandringham Yacht Club, Jetty Rd, Sandringham

COST: FREE

There are steps that can be put in place by owners that can significantly grow the value of your business and hence personal wealth on sale or transition of the business. During the seminar you will hear from:

  • David Wilson (David Wilson Alliance), regarding Tax Benefits of Superannuation and Tax Planning at the time of sale.
  • Daryl La’Brooy (Hillross) who will discuss how much do you need to fund the stage of life after business ownership and the role of selling your business in achieving this target.
  • Philip Coombs (Simply Business Australia), on why 90% of businesses don’t sell and the techniques to getting the business owner and the business ready for sale.
  • Des Carroll (Corporate Business Brokers), on the role of the broker and the business sale process. Plus the critical success factors to selling your business.

Attend this seminar and we guarantee you will receive information that could provide substantial increase to your personal wealth and hence lifestyle funding.

Places are limited, so please reserve yours now.

RSVP by Tuesday May 19th, to David Wilson on: david@dwa.net.au

 

How to Increase Your Personal Wealth by Having Your Business Sale Ready

The statistics are damning in that 90% of owners who manage to sell their businesses don’t get what they wanted or expected then they sold.

Why? And more importantly, what do the 10% do that the 90% don’t?

It is also more daunting to hear that those that actually sold are in the extreme minority.

Research has highlighted that the reason most owners don’t achieve their exit is due to the fact their businesses were “not sale ready”. With a glut of qualified business available on the market today, some market analysts estimate in excess of $8million worth of businesses, savvy buyers are able to selectively choose business with the smallest risk profile and greatest ROI potential.

So what does being sale ready mean?

“Preparing your business for what a target purchaser might look for so that the value they will pay, matches the value you place on the business.”

Much has been written in the press about the baby boomer generation wanting to sell or transition their business over the next 5-10 years creating a perfect storm of business owners.

This is being seen in the following market context:

  • 95% of business owners/organizations that approach a business broker are doing it for emotional reasons. Only 5% are doing as part of a formal exit strategy
  • 50% of these business owners/organizations are not Sale Ready
  • Of the 50% that are Sale Ready, 90% do not achieve the price they had assumed their business was worth
  • The difference in sale price between being Sale Ready and not being Sale ready can be 3 – 4 times the EBIT multiplier
  • There are 1.54 million businesses in Australia and 1/3 have owners that will be over the age of 55 by 2024
  • Over the next 9 years until 2024 it is estimated 1.4 million business owners will seek to retire
  • The largest business bank in Australia estimates over 60% of its customers will seek to exit in the next ten years.

The resultant reality is that only a small number will unlock sufficient wealth to fund their future life journey.

It doesn’t have to be that way. Owners can significantly grow the value of their business and hence personal wealth on sale or transition of the business, simply by having their business sale ready.

So what does a sale ready business look?

A sale ready business will have many of the following characteristics:

  • Shareholders ready for the transition
  • Effective management structure not reliant on the owner
  • Well-developed systems & procedures
  • Effective management information system
  • Three years of profitable growth history
  • Strategic plan
  • Clearly identified target purchaser
  • May have an ‘X’ factor, e.g. a strategic competitive advantage or strategic investment benefit.

Simply Business Advisory has a Sale Ready System to help owners achieve the ultimate reward for being in business, which means to sell the business at significant enterprise profit. This in turn has a significant implication on the personal wealth and hence the funding for the next stage of your life journey.

For further information on this topic please contact David Wilson on david@dwa.net.au or Tel 0412 413 061.

 

How to Avoid the 5 Most Common Marketing Mistakes

If you haven’t sat down and thoroughly considered your marketing strategy in the last 12 months you’ve probably fallen into the same marketing traps that commonly affect SMEs and could be restricting the performance of your business. To help you identify potential flaws we’ve outlined the 5 most common marketing mistakes and how to avoid them.

1.    Not Thinking Outside the Box

It’s too easy to simply copy what your competitors are doing, or stick to what you already know and have always done! Today’s marketplace is constantly changing which makes it important to ensure that the way you communicate with your customers not only stays relevant, but also stands out and manages to capture their attention.
 

 2.    Cutting the Marketing Budget During the Quiet Period

This is a big one which we see far too often. Most industries are generally affected by seasonal trends and what many businesses make the mistake of doing is cutting their marketing budget to compensate for the reduced revenue. In fact, it makes more sense to do the exact opposite – increase your marketing to generate as much business as possible during the dreaded quiet period. We understand that sometimes this isn’t financially viable, but try to at least keep the most targeted marketing activities  ticking over which will help keep more customers coming through the door.
 

3.    Lack of Online & Offline Integration

When a business relies on only one channel of marketing, whether online or offline, it limits the ability to reinforce the brand and can even mean that you’re missing out on a significant number of potential customers by only reaching a particular audience. An integrated approach which includes both online and offline marketing methods will set you up for success and help get the best results from your campaign.
 

 4.    Neglecting the Role of Employees

No matter how good your marketing efforts are, it all comes down to the experience your customers receive when engaging with your business, which is something that’s heavily influenced by your staff. Without responsive and helpful service, marketing will become a total waste of time and money.
 

5.      Non Existent Marketing Plan or Strategy

Planning where you want to be in 6, 12, or 18 months time and putting strategies in place for how you are going to get there is the first step to marketing success. Without a dedicated marketing plan, businesses end up engaging in knee-jerk activities which often generate extremely underwhelming results. Taking the time to strategically develop your marketing plan and objectives will not only help determine the most effective methods, but will also provide realistic goals to measure the success of each campaign.

So, are you guilty of any of these top 5 mistakes? If you answered yes, it’s time to start making some important changes to get the best results for your business.

For further information on this topic please contact David Wilson on david@dwa.net.au or Tel 0412 413 061.

 

 

Are you at risk of brand theft?

In today’s competitive business world, identify and protecting your Intellectual Property is of great importance. A trademark represents the reputation and financial value of your organisation and forms a substantial part of the goodwill of your business.

Isn’t it time to protect your most important business asset, your brand!

Your brand is your business, it is why you exist and it distinguishes you from your competitors.  It is your most important business asset, without it you would cease to exist.

Are you at risk of brand theft?

Only trade marks provide protection for your product or service. Registering a business, company or domain name does not give you any proprietary rights to use that name as a trade mark.   By allowing your trade mark to remain unregistered you are exposes your business to serious risk and in turn, the substantial cost of brand theft.   Brand theft is becoming more common in our globalized business world and occurs when another business across Australia or from overseas begins using your brand without your permission and obtaining a free-ride on your investment and hard work.  

Trade Mark registration: its more than a trademark it’s the best insurance for your brand

Registration can be seen as a form of insurance. Insuring your brand against theft.  A registered business name does not protect your brand, only a registered trade mark achieves this vital outcome.

Stop competitors copying your mark

IP laws reduce the chances of your products and or services being replicated and passed off as those of a rival trader, and can open up new opportunities.  

Securing a valuable IP right that increases the value of your business

Trade Mark Registration gives businesses the power to growth through the commercialisation of your brand. With a registered trade mark you have the ability to license it to a third party, or use it as security in financial transactions. A registered trade mark is a valuable property asset to be recorded on your business’ balance sheet. By having a registered trade mark increases the value of your business in the eyes of investors, purchasers and prospective licensees, franchisees and other commercial partners.  

The cost of delaying your brands protection

Each day you delay registration of your brand or services, you are exposing your business, and your investment in your business, to the risk of brand infringement, counterfeiting and copycatting. Don't expose your brand to risk and potential damage any longer, file an application with us today. As the Brand Protection Co we work closely with you to ensure that your most important assets are protected.  

Our fees: low, fixed and transparent

For an unbeatable, low fixed fee of $300 (per class, plus GST and government registration fees) we will file a single class trade mark application today to protect your mark.  

Confidentiality, experience and trust

You wouldn’t ask an electrician to service your car, so when it comes to IP it’s important that you use a qualified and registered Trade Mark Attorney to work with you on securing your most important assets.   Intellectual property and trade mark registration requires an expert to ensure that you are gaining a comprehensive securing of your greatest asset. With us you can be  assured that your trademarks are in safe hands.  With the Brand Protection Co you are getting a company that has:

  • Extensive experience managing national and global trade mark portfolios
  • Experienced Registered Trade Marks Attorney working on your product or service registration.
  • Trusted by legal, advertising and accounting firms to manage their clients' trade mark matters.
  • Experience in brand management, marketing and new product development.

For further information on this topic please contact David Wilson on david@dwa.net.au or Tel 0412 413 061.

 

 

Over $110m in Government Funding to Improve Marketing, Sales and Growth of Victorian Small Businesses

From January 1st 2015, there will be an estimated $110m in federal and state government funding available to assist Victorian small businesses improve their marketing, sales and business profitability.

The level and type of financial support varies by business type and business size.

For example, if your business has between 5 and 50 employees you will be eligible to receive business planning and coaching services valued at $9,000.  The services are available if applied for and approved before March 30th 2015.  The funding pool is $5m and once allocated is closed.

Another example relates to receiving up to 75% of approved training to improve the skills needed for the business to improve and develop.  These can include marketing and sales skills, customer service skills, management skills and skills to select and use the right digital technologies in your business. 

The training funds can be applied to the business owner and any employees, irrespective of their level of existing qualifications.  The training can be delivered as short courses, individual coaching or a tailored qualification relevant to your business.  

To see if your business can take advantage of these opportunities contact David Wilson on david@dwa.net.au or Tel 0412 413 061.

 

 

A SMSF is your own personal Superannuation Fund that gives you total control over how your Super Benefit is invested. Through a SMSF you can consider the risk and potential for gain of any particular asset and personally select, buy and sell those assets yourself.

  • SMSF helps you minimise tax on earnings, income and capital gains, by taking advantage of specific tax concessions within superannuation.
  • SMSF will often save you thousands of dollars in fees compared with your current fund.

From our expert network of financial and legal industry professionals, you can be assisted with every aspect of achieving your financial goals.

You are personally invited to an event on Self-Managed Super Fund with Property being held on the 18th March at Bayview on the Park in South Melbourne.  Please note Limited Seating.

For more information on this event and to register, please download the Event Brochure, complete the registration form and email it to us.

Alternatively, please click on the registration link below.

Download the Event Brochure ...

 

How to Recruit and Retain Talent?

The demand for staff in the any industry remains high with employers focusing on both recruitment and retention over the next six months, according to a workplace survey conducted by Robert Half International.

The recurring complaint we hear is that attracting and retaining talent is genuinely difficult for the typical suburban firm and although we acknowledge the difficulties, our experience tells us that many business owners do not have a clue about how to attract and retain talent.

Read more...

 

Does a Business Owners Ego Stop Them From Realising Their Full Potential?

EGO is that thing that keeps you in denial and stops you from asking for help. EGO is that element that keeps your head buried at your desk (or in the sand) and stops you from talking to people like us whom are passionate about assisting you to realise your full potential.

Read more...

 

What Business Owners Can Learn From Steve Jobs?

Steve Jobs had amazing self-belief. This allowed him to pursue any opportunity that presented. Business owners could take much from this example and challenge themselves to believe, not only in themselves but also in their ability to learn and evolve in order to achieve the vision...

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Financial Mentorship - What, When and Why

Here's the next article in our education series about Financial Mentorship. Read how we as accountants have dedicated our lives to mastering "Financial Literacy" and therefore, our knowledge can be a value resource for you to tap for much more than just a tax return.

Read more...

 

Estate Planning to Protect Your Wealth

Here's the next chapter in our education series about Building Wealth. See how Estate Planning is not just about having a Will, it's about tidying up business structures and succession.

Read more...

 

Investing in Property Series – Managing Your Investment Property

In Part 1 & 2 of this series we set the foundation for setting your investment strategy and then helped you understand some of the jargon that goes with this industry, Part 3 was all about where to buy and Part 4 is all about managing your investment.

Read more...

 

Investing in Property Series – Financing Your Investment

Financing an investment property is similar to financing the purchase of your own home, but there are some key differences.

Read more...

 

Investing in Property Series - Where to buy your investment property?

In this Part we will help you decide where to buy which again comes back to that good old adage Location, Location, Location...

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Taking Care of Business - Business Dashboard

In this provocative chapter we will be looking at how important it is to monitor your Business's speedo; that is your Business Dashboard. We often see many businesses that are going too fast to really understand what is going on until they realise they need to slow down and track their growth (often too late)...

Read more...

 

Taking Care of Business - Financing

Having sustainable cash flow is often a hard thing to achieve in the early phases of a business or even during periods of rapid growth. In order to supplement your cash flow and to help expand, you need to consider different forms of financing.stand and use...

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Taking Care of Business - Reporting

Most accounting software packages today produce reports but there always seem to be too many that really are not presented in a way that the business owner can understand and use...

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Taking Care of Business- Bookkeeping

One of the key drivers of making a business successful is that you need to take care of it...

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Taking Care of Business - Budgeting

Why is having a budget in place essential to Taking Care of Business? Everyone needs goals to strive for - unless they are agreed and communicated then you are just kidding yourself that growth will just happen...

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How to borrow to buy property via your SMSF

Borrowing to invest through a self-managed super fund (SMSF) can be a simple and effective strategy to leverage your existing superannuation. However, as the trustee of a SMSF, you MUST be aware of the hidden traps in getting the structure & lending plan right, or else suffer the consequences.

Read more...

 

When to invest in property via your SMSF?

Many people reeling from the recent turmoil in global financial markets are looking for different ways to invest their superannuation. We are being asked more often these days if there are ways to make our "hard earned money" work in more creative ways, such as superannuation into bricks and mortar...

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SMSF - What's all the Hype?

It's a common misconception; that having a super fund with low fees or one with the best performance will be enough to secure your retirement...

Read more...

 

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