Buying an existing operational business can be an exciting time. It can also be one of the most dangerous & risky times.
When you buy an existing business you are also buying a lot of potential for expensive mistakes to occur.
There are many components and moving parts to an existing business such as:
Customers, Suppliers, Finances, Taxes, Landlords, Financiers, Licensing Bodies, Marketing Collateral and Plant & Equipment to name a few.

A properly conducted due diligence of the business you are buying acts as a double check and verification of what it is you are buying and that what you are buying is what you are expecting to buy for your money.

There are many cases where purchasers of businesses have skipped having a proper due diligence conducted and it has led to very expensive mistakes and problems once the business is purchased.

In this episode we cover

• Why it can be a good idea to buy an existing business.
• The different ways you can buy an existing business.
• The risks and potential exposure you face when buying an existing business.
• What is a Due Diligence
• Why you need a professional Due Diligence when buying a business.
• The risks of not having a proper due diligence when buying a business.

Are you thinking outside the square in your business?
Too often we fall into a comfort zone of that’s just the way we do it in our business.
The danger is that the world and technology is moving at a rapid pace, a pace that is unstoppable and impossible to tame.
This means that our customer's expectations and needs are also rapidly changing.
If we don’t give ourselves time to think outside the square in our businesses we run the risk of becoming out of date and extinct.
If our competitors embrace change and reimagine the delivery of products and solutions to our ideal customers then it is going to be more competitive and difficult to compete in our respective markets.

In this episode we discuss:

• The importance of thinking outside the square in your business.
• Giving yourself free time to do big-picture thinking, to reimagine your product or service
• The importance of looking at every step of your customer journey and thinking outside the square in terms of technology or changes you could make to stay ahead of your competition in your marketplace.
• Don’t follow the herd from history, be a thought leader in your space and develop the new frontier.

Time is a precious resource that we all need more of, particularly in business.
If we waste it we can never get it back.
If we use it wisely, we can achieve many great results with it.
In today’s fast-paced world however, there can be a never-ending list of things all calling for our attention with never enough time to do them all.

In this episode I share with you my top 10 time wasters in business and specifically what you can do to stop them.

• You will learn
• Why minimising time wastage is crucial to your business success.
• Learn my top 10 time wasters in business.
• Why they make the list of the top 10
• Importantly how to stop them from eating up your precious time and start being more productive.

Confidence Blocks can be debilitating to your business performance. They can be happening without you even knowing that they are there. So what are they? How do you identify them? And, most importantly how do you overcome them so that you can get back achieving the success in your business you are looking for?

In this week's episode we are talking about, How to overcome confidence blocks in your business.

Specifically we are discussing

• What a confidence block is.
• What signs to look for when identifying a confidence block
• How to analyse a confidence block when you find one
• Why they are important to fix
• How to approach fixing them when you find one.

One of the most dangerous things to do in your business is to have all your eggs in one basket.

This week we take an in-depth look at a strategy to secure and grow your business profit using income pillars.

Pillars have been around for centuries as a way of sharing and spreading heavy loads in buildings and architecture.

But like in architecture Pillars can also play an extremely valuable role in sharing the load in your business by spreading and reducing risk and sharing and leveraging already existing overheads and costs in your business while growing your bottom line profit.

Specifically, in this episode we discuss

• The importance of spreading and diversifying risk in your business is not to have all your eggs in one basket.
• The strategy of building and identifying income pillars in your business.
• What we mean by income pillars in your business
• How Income Pillars work and how they will help you to spread risks and help you to secure and grow your business profit.  

We can’t control everything that happens to us in our business. There are things that will happen from an internal perspective and things from a greater outside Macro perspective that are just going to happen no matter what.

We can, however, with proper planning and strategy reduce the risk of things happening in our business and lives and minimise the severity of the impact when and if they do.

In this episode, we discuss how to manage risk in your business.

• We discuss a practical approach and strategy you can implement to
• Fully understand the types of risks your business is exposed to.
• How to quantify the impact of one of those risk events happening in your business.
• How to prioritise systems and procedures to mitigate the effects of a risk event happening in your business.
• What happens if you don’t implement a risk management plan in your business no matter how big or small your business may be.

We all know time is a limited resource, we just cannot get any more of it. As an entrepreneur, we tend to wear a lot of different hats which can be stressful and overwhelming. Getting clarity around where it is that you should be spending your time is very important in order to set the right goals and strategy to run your business

Tune in to this episode as we answer one of our Business Made Easy Podcast Subscriber's Questions about how to improve time management to find more time in business.

In this episode you'll learn:

• The importance of prioritizing
• When is the right time to delegate tasks
• How to take advantage of technology to automate processes

We discuss how to grow your business profit in this episode by looking at your profit margin and doing a spring clean of your overheads in your business.

As your business grows it’s very easy for waste and inefficiency in your overheads to creep in and erode your profit margin. So a regular review of these costs is recommended.

Often as a busy business owner and entrepreneur we are focused on sales and making more income and we rarely review the expenses of the business. But one of the quickest wins you can have with growing your business profit is to review your overheads and expenses in your business and to tighten efficiency and eliminate wastage.

In this episode, you will learn

• Why your profit margin is so important to your business
• How the overheads and costs of your business can creep up and out of control.
• The types of expenses that can blow out in your business
• Why efficiency in your expenses is important and has an effect on your profit margin.
• Practical ways to monitor your overheads and ensure they are under control in your business.

We discuss how to grow your business profit in this episode by looking at your profit margin and doing a spring clean of your overheads in your business.

As your business grows it’s very easy for waste and inefficiency in your overheads to creep in and erode your profit margin. So a regular review of these costs is recommended.

Often as a busy business owner and entrepreneur we are focused on sales and making more income and we rarely review the expenses of the business. But one of the quickest wins you can have with growing your business profit is to review your overheads and expenses in your business and to tighten efficiency and eliminate wastage.

In this episode, you will learn

• Why your profit margin is so important to your business
• How the overheads and costs of your business can creep up and out of control.
• The types of expenses that can blow out in your business
• Why efficiency in your expenses is important and has an effect on your profit margin.
• Practical ways to monitor your overheads and ensure they are under control in your business.

It is common as a business owner to worry about how much to charge for our goods and services.

If the price is too high we may not make the sale or even worse the customer might make comment that we are too expensive and make comparisons to our competitors.

The truth is though, it is the business owner that has more of a problem with the price of their goods and services more than the customer does.

The trick to getting this area of your business right is to make sure the value of your offer to your customers is higher than the price, or at the very least your value matches your price being charged.

We discuss in this episode.

• The importance of your value being higher than your price
• How it is the business owner who has a bigger problem with the price of their goods & services than the customer themselves does.
• The customer is focused on the value of the transaction to them and how it is going to solve their problems and change their state.
• The importance of understanding your customers perception of quality.
• What happens when your value doesn’t exceed your price.