Francis Bacon
Frequently Asked Questions
Are you driven by profit or fun?
Profit is not the only measure of business success but without it no business can remain viable nor sustain itself. read more »
Given the risk associated with being a business owner why accept mediocre return on your investment? Why not aim to be in the top quartile of business owners who enjoy excellent return on investment?
See what our existing clients say about us in Testimonials. Many of our clients have been past National, State and Regional business achievement award winners – why not join them?
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What exit strategy?
"Death is my exit strategy. I’ll be doing significant customer service only as long as I live."
Craig Newmark
How well does this sentiment describe the extent of your Exit Strategy? read more »
With Australia’s limited capital base particularly in the SME arena how are you going to realize your real underlying business value?
The challenge confronting all SME business owners is poignantly described by Investodpedia in its definition of Exit Strategy namely:
"…When a firm is private, the shares cannot be sold nearly as easily as when the firm is publicly traded on a stock exchange. So, even though a private startup firm could be worth millions of dollars, the entrepreneur has little access to this wealth. You can think of the exit strategy as the first opportunity to trade an illiquid asset (shares in a private firm) for a very liquid asset (cash)."
Making a profit is a means to an end not the end in itself. The reality of the market place in Australia means the credibility of your exit strategy could well define your life in retirement.
Do you have a meaningful exit strategy that clearly identifies how you will convert your ´illiquid asset to cash´?
Is your business sale ready such that it equates to a turnkey operation readily operated successfully ongoing by a purchaser?
If not and you do not intend to change this situation now then your best exit strategy lies with Gold Lotto.
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What glue holds your business together?
Michael Gerber variously has stated that a well defined system is the glue that binds a business and further, that it is system that allows ordinary people to achieve extraordinary things. read more »
If your business is reliant upon you or a small number of key people to operate well then you have several major challenges confronting you including:
- the heightened risk of losing key staff
- your diminished ability to attract and retain good people
- your increased contribution to business operations ie you are hostage to your own business
- your diminished customer service capability and
- your lack of other than a fire sale option for your business.
Consider the Australian market place and the immediate future you face as a SME business owner:
- relatively low unemployment viz a viz shortage of skilled staff and
- the much publicized mining industry thirst for labour and willingness to pay above market place wages.
A well-defined, relevant and dynamic business system is the only sustainable way for the SME business owner to not only compete but prosper in such an environment.
We can not only help you define and record your system but also provide the electronic platform to house and deliver your system to all team members.
Your future viability depends on your willingness to embrace the concept of being System dependent and not People dependent.
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Do your family want in?
Family succession though common to SME businesses is regrettably not a common success. The popular press has documented some of the more acrimonious undertakings though most have not graced the public media. read more »
That it often proves to be an unsatisfactory transition is not surprising. The SME business owner who practices good business common sense in most things invariably deserts this proven approach when dealing with family members.
Instead of careful deliberation and forth right decision making family succession in business is often conspicuous of:
- procrastination
- bias
- emotional upheaval and
- lack of transparency.
No wonder it is so often a failure.
Family succession of business is no less than changing the ownership and or control of the business. This is hardly a trivial undertaking.
Why is it then that the due diligence and careful planning that would typically apply to a comparable undertaking such a purchasing a business or a complete retooling of the factory would command is rejected when planning for succession?
Proceed at your peril if you do not seek professional and impartial guidance during this critical phase of any business transition.
We have worked with SME business owners for in excess of 30 years and therefore well understand the dynamics, sensitivities required and ultimately the need for hard headed decision making in everyone’s interest.
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Are you as good as you could be?
Henry Ford was known to say "...you can have any colour car you like; as long as it is black". Such were the shortages following WW11 that business owners could be so audacious with their offering and still be stampeded for their goods. read more »
Peter Drucker internationally acclaimed management consultant offers a far more sobering insight to business in the 21st century when proposing that Innovation will be synonymous with business success. Those businesses that fail to embrace innovation as an integral part of their business strategy will fail.
Innovation as Drucker defines it is not about doing the same things better but doing completely different things.
If we are to be innovative then we must be constructively critical of all we do. It is a rare business owner that can truly and objectively self-criticize but that is the imperative proposed by Drucker for all SME business owners.
Indeed for those that can do this they would typically be diagnosed as having a ´compulsive obsessive´ disorder by the medical fraternity.
We can readily assist this undertaking for you. Let us help you begin to shape your business and your unique selling proposition into the 21st century market place where once we have undertaken a SWOT analysis we can extrapolate for you the opportunities that await you.
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I am an SME business owner – is risk management relevant to me?
Emphatically YES. To think this is the preserve of the large corporations would be folly.
For most SME business owners the value of their business is their greatest asset in value and therefore the loss or major impairment of this asset would be devastating. read more »
Often that value has been amassed over many years and underpins your ongoing quality of life and financial independence.
If you are in business you are subject to considerable risk to your operations every day.
For starters you are subject to a raft of legislation no matter the industry in which you participate and most likely including at Federal, State and Municipal levels of Government.
If you use a company through which you operate your business then you are also at least subject to the Companies Code. This Code places onerous obligations on directors and Court rulings have long established the principle in this regard that your ignorance of the statute affords you no protection from prosecution.
Add to this the litigious Australian market place in which we all now operate, where class actions are commonplace, and you can only concur when we say unreservedly YES; risk management is relevant to you.
Managing or more aptly stated, reducing your exposure to risk (it cannot be eliminated), is possible and identifying what is possible in practical terms should be exhaustively explored.
The best risk management approach for you has to be tailored to your own circumstances and by implication copying what others have done may not be the best option for you.
We know its importance and hence why we so strongly recommend such a review with all our clients and periodic review simply because material changes to client circumstances invariably occur over time.
When did you last have an independent review of your circumstances to assess your best approach to Risk Management?
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Are we a good fit for you?
Following is our existing client profile and as supported by our testimonials is a group of business operators we serve very well. read more »
Shalom is very likely a good fit if you:
- are an SME business owner
- are based in Qld
- want a better return for your effort and risk
- want to protect what you accumulate
- recognize that quality of life is harmonious with business success and not secondary to it
- are prepared to embrace change.
Why hesitate?
"The definition of insanity is doing the same thing over and over and expecting different results"
Benjamin Franklin
We do promise you different results provided you are ready for change. read more »
We however do not make rash promises nor propose the change process is without some pain.
We have a proven record of success – believe our clients if not us – however that proposition is moot if you do not meet with us to explore how we can work together.
We have long proposed the benefit of meeting a prospective client at no fee cost to them. This is for our mutual benefit so this is not a Sales Pitch.
We further add our clients bear testimony to our proposition that whatever they spend with us represents excellent Return on Investment.
If we are to work together long term (and that’s our objective) then as with developing all potential long term relationships it is desirable for us to meet face to face and explore the possibilities that we can mutually benefit from our engagement.
This allows us to get know each other, discuss your key issues and mutually confirm a good basis for working together.
So over to you – call Patrick.
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