Business In Turbulent Times

BUSINESSA IN

VALUE, BUILD & PRESERVE

TURBULENT TIMESTuesday, 23 July 13

How do you know you are in turbulent times?

• High or stiff competition from other businesses with similar goods and services.

• Low consumer confidence

which leads to reduction in consumer spending.

• Change in consumer preferences and habits

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• Climate or weather changes that may adversely affect buyer behavior.

• Sudden rise in the cost of p r o d u c t i o n o r d o i n g business in a given region.

How do you know you are in turbulent times?

cost of production

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• Political uncertainty w h i c h l e a d s t o a reduction in consumer confidence.

How do you know you are in turbulent times?

• Businesses are unsure of where government stands on particular critical issues.

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Tips For Turbulent Business Owners

• Broaden you product and service offering so that you are not reliant on one or two major products or services.

• Broaden your client base so that you are not reliant on one or two m a j o r c l i e n t s . I f p o s s i b l e n o c l i e n t should be more than 15% of your business.

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• Have a good mix of full-time, part-time, casual and outsourced staff. That gives you flexibility with staffing arrangements.

• Review your suppliers and look for savings. Is there a more competitive price telephone supplier? Can a bookkeeper do part of what your accountant is currently doing?

Tips For Turbulent Business Owners

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• Preserve the quality of your service so that you are not as reliant on price to compete. In recessionary times, prestige goods and services generally maintain their volume.

• Relationships really matter when things go wrong. So always keep a good re l a t i onsh ip w i th your customer and your suppliers.

Tips For Turbulent Business Owners

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You always need a business broker to assist you in this process. However, in turbulent time the need for a skillful professional advisor is even greater. It could mean the difference between selling and not selling.

Tips For Turbulent Business Owners

Business Broker Directory

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Maximise Business Value

For help in maximising your business value take a look at our products here

http://bc.com.au/maximise.html

Tuesday, 23 July 13

For Advice On Your Business Valuation Or Sale

BCI Business BrokersTony Arena (Managing Director)

3/1 Alexander Street, Crows Nest, NSW, 2065Phone: +61 2 9439 3399Mobile: +61 411888148Email: tarena@bc.com.au

www.bc.com.au

Tuesday, 23 July 13

For A Free Consultation On The Value Of Your Business

Visit our website: www.valueabusiness.com.au

Tuesday, 23 July 13