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Know Your Business’s Worth

Ideally, a business is run tirelessly and either passed on to the next generation within the family or sold off to the right buyer, at the right price. However, most business owners only gauge the value of their business when they decide to sell. This often leads to several lost opportunities during the tenure of the business. Knowing the worth of your business can help you in several areas such as planning investments, exit strategies, insurance and much more. Why keep track of a business’s value?
  • To Expand your Business When thinking about business expansion, awareness of your business’s worth can help you gauge the need for external funding and assist in acquiring the required finance. You are more likely to cultivate confidence in lenders where you able to show awareness of the various components of your...

Making Money While You Sleep

Property is the product. The plan is the Key - To get rich you should be making money in your sleep

How can One do this? Just imagine that you are a landlord of one or more rental properties that are returning 4% with the added benefit of capital growth of 7% to 10% per annum. If you have an investment property worth $600,000 it will be worth over $1 million in ten years. If you think that is not possible I can show you the stats to prove that this has occurred over the past 100 years in Melbourne. This is how you make money while you sleep! The sad fact is most people would like to do this, but don’t. Why? While many property investors know they want their properties to replace their income, I’ve found most don’t think about...

The Fundamentals of Maintaining Successful Business Partnerships

Business relations come in all shapes and sizes. They can range from your relationship with your supplier to relations with government officials who could be concerned with your business. These relationships are unavoidable and are usually easier to manage than business partnerships. Business partnerships are nearly akin to marriages as far as commitment and self-interest go. However managing the expectations of each other is quite a different ball game where profits and livelihoods are concerned. It should come as no surprise that nearly 80% of business partnerships fail. However, while it’s always great to be a sole owner, it could limit the possibilities of expansion in the nascent stages of your business. So here’s our little input on taking into account some fundamentals that can lead to an effective and long lasting business partnership:
  • Define your...
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