Recent posts

The Family Business: A Looming Crisis

The pressure and demands of succession and the transfer the family businesses that we have discussed in this column over the past 4 years are now becoming reality.

From our experience the retiring business owners have not comprehended the complexity of the situation nor understood the impact and benefits of proactive planning in increasing the value of the business and their ability to achieve a transfer.

“Family businesses are finding it harder to prosper by following the old familiar ways”, according to the Business Review Weekly July 14 edition titled ‘The Family Line Buckles’.

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Sustainable Cost Reduction

Being able to reduce costs on a long term basis is a goal of all business leaders. Where reduction is caused through growing competitor power, economic changes, or any manner of items which impact profit, the need is to deal with the costs NOW. The urgency will result in measures that attack obvious costs but when the urgency abates, what then?

To keep cost reduction embedded in the firm the use of culture is required to reinforce the benefits of the action.

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Quarterly Opportunities to fund increased business growth

Now that the worst of the Global Financial Crisis is probably behind us, many business owners have changed their focus from survival to growth. This growth has funding implications as businesses generally will have to invest in additional inventory and receivables.

Many businesses who have just managed to survive the recession are now facing the daunting prospect of funding the recovery. Typically, the obvious candidates go broke early on in any recession with many fragile businesses surviving based on the banks not willing to take action. Now, with the recovery underway the weaker businesses will struggle to access finance.

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Core Values – A Great Place to Start

Most people would like to work in an environment that is interesting, challenging, rewarding, productive and fun. This set of attributes could be identified as being key contributors to the development of a very positive workplace culture. Many business owners would like to achieve an improvement in their existing workplace culture because they are aware of the positive impact on employee well-being and productivity. However they often struggle with how such change can be achieved.

The answer, in part, involves effective leadership. A valuable starting point is the development of, and commitment to, a set of business core values that provide a framework within which the business sets its goals, employs its staff, engages with its customers and conducts its affairs within the community.

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