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Preparing to sell your Business PDF Print E-mail

Preparing to sell your Business

 A recent story by Linda Glassop from Deakin University called Avoid the Exit Wounds in this weeks BRW highlights the needs for business today to be better prepared for the future. The story talks about a study by cameron research of 775 SME's indicating as many as 70% want to exit the business within the next 10 years.

With more business's being sold in the next 10 years than there are willing buyers many business owners will be dissapointed with the outcome and in many cases not receive the final payout that they had hoped for leaving them well short with the retirement plans.

With more business's for sale than there are buyers it is clear the best business's will achieve top dollars and business's of a lower quality will not receive as much during the sale process or may be overlooked entirely.

How can you improve your business for a better future sale?

Business today needs to be efficient, Business today needs to employ less people but get more results. The only way business can achieve these results is to follow the most succssesful business models. The most succsesful businesses today have systems in place. There are more systems available today than ever before, It is a minefield of products that you need to choose from. How do you find the right products? What products are right for you?

When you have employees today you can spend a lot of time manually collecting clock in and clock out information, even more time calculating this information manually and further time manually entering this information into payroll. Traditionally bundy clocks led the way over many years, bundy clocks were first invented in 1888 on November 20th by Willard Bundy since then and more recently electronic time clocks and time and attendance software has given companies the opportunity to automate your employee time collection, calculation and finally processing the information into payroll.

Getting good systems in place in your business will improve efficiency's and also improve the opportunity for you to sell your business for a premium compared to businesses that do not put in place good systems.

To find out more about how we can improve your employee time management please call Peter Morrissey on 1300 664 254
 
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