Research Before You Buy

In business we’re constantly buying new things. Whether it’s vehicles, printers, stationary or data storage, as business owners we’re in an ongoing state of purchasing. However how often do you actually research what you buy or plan what you buy before handing over the cash. In the majority of case we purchase new things as a result of an event. For example the fax machine died and we need a new one immediately or the world will end. It’s often the first supplier we call or the fastest to supply that we purchase from due to our urgency. However in…

Seller’s Remorse

Very rarely however on occasion the issue of seller’s remorse pops up. Everyone’s heard the saying it’s only when something’s gone that you realise how much it meant to you, well selling a business falls into this basket. Generally speaking when a seller has remorse about selling its at the point of negotiation. It’s that realisation when someone offers you money for your pride and joy that you react on emotion rather than logic. Sometimes this reaction can be so strong that you decide selling isn’t what you wanted to do after all, other times you simply need a reminder…

SWOT your forecasts

Many advisors and managers live and die by their forecasts however forecast are exactly that, just forecasts and should be taken with a grain of salt. Instead if you really want to know you’re business’s future a SWOT (Strengths Weaknesses Opportunities and Threats) analysis will give you a far more reliable picture. See its one thing to generate a set of numbers using excel spread sheets based on trends and patterns however in an every changing economy like we’re in today, these statistics don’t apply. Instead taking a hard long look at your business using the SWOT principal is far…

New Years Resolution

Isn’t it strange how as humans we require a certain date to come round each year to decide on drastic action, enter the New Years Resolution (NYR). However in reality the NYR very rarely succeeds. The reason why is simple. The desired outcome is too large to achieve in one motion. So why wait until the beginning of each year to make decisions around life, money and health. Instead, break those actions up month by month into smaller more manageably outcomes. For example, if your NYR was to 2 X your sales this calendar year, then aim to increase sales…

Is your property manager costing you thousands without you knowing?

Ever get the feeling your constantly paying for maintenance on your investment properties? I know I do. I seemed to forever be receiving requests for permission to send electricians and plumbers out. It got to a point with one property that I honestly thought I’d replaced everything in the house twice over. However it wasn’t that the property was in disrepair it was simply bad management. A typical scenario is a tenant calls up in panic about the electricity keeps shorting out. The property manager reacts immediately and sends an electrician out to inspect. The property manager didn’t stop to…