Sale Ready Form Step 1 of 20 5% Hi Business Owner, Your Business Questionnaire is now ready for your review and completion. Before you commence the process, we wanted to give you some tips and pointers that will help make this process as enjoyable and beneficial as possible. The following questionnaire aims to deep dive into your business, and will at times ask you questions which, for whatever reason, you may not feel comfortable answering. You may not know the answer to some of the questions but do your best to answer everything possible. Similarly, some of the questions will seem quite personal to your business, but it is very important that we ask these questions and that you respond honestly, providing as much information as you can. If you feel you are unable to answer a question, raise this with your advisor (where relevant). It is critical to understand that quality advice can only be provided if you respond to the questions openly and honestly. How long will this take: Completion depends on your circumstances, but it’s safe to say you should allocate up to 2 hours to complete the full questionnaire. Should I prepare anything before I start? If you are working with an Advisor, then Yes. If possible, have the following documents handy: Balance Sheet and P&L for the last 3 financial years. While not mandatory, you will be prompted to load these documents into the questionnaire. These documents will help your Advisor get a better understanding of your business. For DIY participants, you can skip this step. Tip: If possible, complete the questionnaire in a quiet environment with no distractions. Put your phone on silent. Close your emails. Tell your staff (where relevant), not to disturb you while you are completing this form. We hope you enjoy this process – In addition to providing you with advice to help you grow a more sustainable business, the process of completing the questionnaire is itself educational and will often get you thinking differently about your business! Start your form by clicking the next button or come back whenever you are ready to get started.Hi Business Owner, Your client, , has completed the Business Questionnaire and this is now ready for your review and feedback. Before you commence the process, we wanted to give you some tips and pointers to help you and the business owner get the most value out of this process. Providing Feedback: You can provide feedback in three ways: Section feedback only. At the end of every section, you will be given the opportunity to provide written feedback to the business owner. This feedback will be automatically inserted into the generated report, visible at the end of every section in the report. Traditional report style only. Review the client responses and write up your own custom feedback by ticking the ‘traditional style report’ field on Step 3 of the Questionnaire. This will add all your advice to the beginning of the report. Hybrid report. Add comments throughout the document, plus add an initial traditional style feedback section as well. In this instance both will appear in the final report. Remember, the business owner has not, and will not, see their report until you have completed your review and submitted it. Our recommendation is, where possible and where you have agreed with the business owner, to meet with the business owner after completing an initial review of their submitted form along with any uploaded documents. If possible, it’s a good idea to review their online presence to get a better understanding of who they are and what their business is about. We recommend completing the feedback sections of their report only after you have had a video meeting with them via the MyMalekso video facility. This allows you to dig into their questionnaire responses and to really get a good understanding of their business and their situation, prior to finalising their report with your written recommendations. Here are some tips on providing feedback: It is important to address everything relevant that you uncover in your review. Make sure you review any uploaded files as part of the process. Provide feedback and suggestions/advice that are relevant, achievable, and detailed enough in content for the reader to understand what you are saying. Don’t skimp on details, but also don’t write a lengthy prose if it is not required! NOTE: Using the pagination at the top of your screen, you can move back and forth freely between sections. If you wish to take a break, simply hit the save button. When you return to recommence your review, note that it will re-load back at the very start. This allows you a second chance to review any of your earlier notes before picking up where you left off. Should I prepare anything before I start? Yes. Make sure your phone is on silent and you are in a quiet space where you won’t be disturbed. Completing this review process in one go is advised. Ready to commence? Start by clicking the next button below. Disclaimer This diagnostic questionnaire and the generated report are intended to be used as a guide only and should not be solely relied upon to make any decisions. The information and advice contained within the generated report has been collected and composed based on the responses you provided and submitted into the diagnostic questionnaire. All advice should be discussed with an appropriate Advisor before being implemented. Full liability lies with the individual/s who completed the diagnostic questionnaire, and no recourse can be had back on the Advisor involved, or the provider of the diagnostic questionnaire, the MyMalekso platform, the report and its contents including all the advice therein. Neither the Advisor nor the MyMalekso platform (the provider of diagnostic questionnaire, the report and its contents including all advice), can be held accountable and/or liable for any losses, defects, issues, problems, misuse, misunderstanding, harm that may come about as a result of implementing any of the advice contained within any of the reports generated, and any of the content found within the reports and/or the MyMalekso platform.Disclaimer This report and business diagnostic tool is intended to be used as a guide only and should not be solely relied upon to make any decisions. The information and advice contained within the report generated has been collected and composed based on the responses provided and submitted by the individual/s (hereby referred to as the ‘client’) completing and submitting the diagnostic questionnaire. All advice provided should be discussed with the client before being implemented. It is the Advisor’s responsibility to ensure that they explain all recommendations correctly and adequately to the client, including the automated advice generated as part of the report. Full liability lies with the client who completed the diagnostic questionnaire, and the Advisor who provides the direct feedback and advice to the client. No recourse can be had back onto the provider of the diagnostic questionnaire, the generated report and all report contents including advice, and the MyMalekso platform. The provider of the diagnostic questionnaire, the generated report and all report contents including advice, and the MyMalekso platform cannot be held accountable and/or liable for any losses, defects, issues, problems, misuse, misunderstanding, harm that may come about as a result of interpreting, misinterpreting and/or implementing any of the advice contained within any of the reports generated either automatically or entered manually by the Advisor, and any of the content found within the MyMalekso platform. I AGREE I AGREE Advisor, if you want to use a traditional style report, please tick this box Yes Please add your report content here.*Please add your report content here. HiddenCurrent Email* HiddenRoles Business Owner Advisor Full Name* First Last Contact NumberEmail Address* Business Name* Briefly outline: what does your business do?Who is your Advisor?* HiddenSale Price Maximiser Advisor List*Select advisory listPhillip HaswellAlistair GreenAnthony McPheeAngela NogaskiAnita ClarkAndrew YoannidisBrian SanderChana ImsirovicChristopher SmithCraig TunleyDeanne BowdDon BurkeDugald ToddEric AllgoodFlorian SchmittGeoff NeilGordon StoneShelley BurchettLiz FlemingJames ReevesJill AlexanderJo-Anne WilsonJulia SpicerKen KrammeLauren HopeLinda TillmanLiz WardMark LenthallPeter SpindaPeter SpindaReuben BergolaSamantha NoonSarah LockwoodSesh VSSteve SandorTanya AtkinsonTara JacobsenTim BowenVenn WilliamsWayne KampenWayne TrattlesHiddenEmail HiddenEmail Hiddenuser_id Hiddenproduct_type Hiddenpdf_password Are there any other co-owners completing this form?Please select Yes or No. Yes No You may be wondering why it matters if anyone else is completing this form with you. The answer is simple. It is assumed that anyone completing a deep-dive analysis questionnaire like this will either be an owner, shareholder or key member of the senior management team. In any business where there is more than one key decision maker there is a risk that the decision makers are misaligned and have differing perceptions of the business (thereby misalignment with the business’ vision), perhaps as a result of their immersion in one area or division. Too often, business performance and sustained growth are impacted by this problem. In the case of exiting a business, misalignment at an owner, shareholder and/or senior management level can have dire effects on the ability to successfully exit the business. It is for these reasons that the questionnaire seeks to uncover any differences or misalignment that may exist between your leaders. Where such issues are found, it is absolutely critical that you spend the time identifying the exact nature of this misalignment issue, then working through the issues as a team such that, ideally, you have the whole team on board with the vision and everyone is aligned in the exact same direction. Furthermore, regardless of whether you find any alignment issues or not, in any business with co-owners and/or multiple leaders/managers, strategies need to be in place that identify alignment problems early, helping to assist in the avoidance of internal politics and disputes. Please note: At this stage other participant responses do not impact overall scores.afb: multiple co-ownersYou may be wondering why it matters if anyone else is completing this form with you. The answer is simple. It is assumed that anyone completing a deep-dive analysis questionnaire like this will either be an owner, shareholder or key member of the senior management team. In any business where there is more than one key decision maker there is a risk that the decision makers are misaligned and have differing perceptions of the business (thereby misalignment with the business' vision), perhaps as a result of their immersion in one area or division. Too often, business performance and sustained growth are impacted by this problem. In the case of exiting a business, misalignment at an owner, shareholder and/or senior management level can have dire effects on the ability to successfully exit the business. It is for these reasons that the questionnaire seeks to uncover any differences or misalignment that may exist between your leaders. Where such issues are found, it is absolutely critical that you spend the time identifying the exact nature of this misalignment issue, then working through the issues as a team such that, ideally, you have the whole team on board with the vision and everyone is aligned in the exact same direction. Furthermore, regardless of whether you find any alignment issues or not, in any business with co-owners and/or multiple leaders/managers, strategies need to be in place that identify alignment problems early, helping to assist in the avoidance of internal politics and disputes. Please note: At this stage other participant responses do not impact overall scores.Please select how many additional co-owners are participating.*Choose one of the options listed below. *Please note as multiple individuals are completing this form together, some sections of the questionnaire will be repeated to capture each person’s perspective.1234Please list each person’s name and titleSecond Respondent/Co-Owner's Name* Second Respondent/Co-Owner's Title* Third Respondent/Co-Owner's Name* Third Respondent/Co-Owner's Title* Fourth Respondent/Co-Owner's Name* Fourth Respondent/Co-Owner's Title* Fifth Respondent/Co-Owner's Name* Fifth Respondent/Co-Owner's Title* PersonalThe questions below should be answered by the primary respondent/co-owner.Do you want to sell your business?Please select Yes or No. Yes No Do you have to sell your business?Please select Yes or No. Yes No Answer 1 – 1By being in a position where you can choose to sell your business on your own accord, you will find that you have more control over the process and that you will reduce the chances of stepping into a deal that won't benefit you. Answer 1 – 2Being forced to sell your business, when you don't want to sell, is not an ideal situation. Beware of emotions taking control of your logical reasoning and make sure you have a sale plan that you are working towards. The more you plan and prepare, considering the unexpected and thinking of ways to reduce your risk, the better the chances for a positive outcome for you. Working with a reputable Business Broker is strongly advised, as they can guide you through the maze that exists when selling a business.Answer 1 – 3You are in a good position. You are in control of what happens next. Even though you are not wanting to sell, now is the best time to start thinking about how you will exit your business in the future. This is the prime time to start laying the foundations to help you get the most money for your business when you do decide to exit. What are the driving factors behind needing to sell your business?Choose one of the options listed below.Personal financesHealth issuesFamily reasonsWish to retireBoredHad enough of businessBusiness losing money or ineffectiveOtherPlease advise below.Please provide a short explanation.How fast do you need to sell the business?Choose one of the options listed below.I need it sold in under 1 monthI need it sold in under 3 monthsI need it sold in under 6 monthsI need it sold in under 12 monthsNo rush, I'm happy to wait and sell to the right buyerAnswer449Beware that if you need to sell fast, there is a higher chance that you will be considered a 'desperate' or 'firesale' opportunity, thus affecting what buyers are willing to pay for the business. Furthermore, the less time you have, the greater the chance that you may make rushed or even inappropriate decisions . For these reasons, it is critical that you have by your side a good Business Broker and advisory team (accountant, lawyer, business advisor etc), who can guide you through the sales process and help you make better informed decisions.What will you do after you sell the business?Choose one of the options listed below.RetireTake a long holidayGet a jobStart another businessBuy or join another businessI have no ideaAnswer14Not knowing what you will do after you sell the business is actually not an ideal situation. If you don't know your next path, then you run the risk of procrastinating throughout the sale, or even unknowingly sabotaging the whole process. With this in mind, it is strongly recommended that before you start the sales process you work out your post-business life, and what you will do once you don't have the business to operate.How happy are you with the decision to sell your business? Rate from 1 to 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910Answer15It is important that while you may not be happy with the decision to sell, you accept that you have made this decision. If you don't accept it, there is a chance that you will inadvertently derail the sales process, causing it to take longer, be more stressful, and potentially affect the amount of money you realise from the sale. If you are really unhappy with the decision, perhaps re-ask the questions, 'do I need to sell' and 'should I sell', and be honest with yourself about your situation. Seeking advice from your advisor, be they a business advisor, accountant, lawyer or business broker is also recommended. At the end of the day this is your business, and what you do is your choice, centering around your needs.Does your life partner support you selling the business?Please select Yes or No. Yes No Does your family support your decision to sell the business?Please select Yes or No. Yes No Answer 1 – 6Exiting your business is an exciting process, one which at times can be quite stressful. This is where having the support of those around you helps. If you have everyone on board and supportive, then make the most of their support and lean on them during the stressful times. If you haven't quite got everyone on board then do what you can to bring them on the same page as you. While this is not always possible (there are many reasons why people close to one another might not support every decision the other makes) it is certainly worth trying to align their support for your decision.Do you have any business partners?Please select Yes or No. Yes No Do they support your decision to sell the business?Please select Yes or No. Yes No Answer19Not being on the same page as your business partner/s is a big issue. Without their support, it will be very difficult to sell your business and move on. Such a lack of support can cause significant personal stress, and may go as far as impacting the operations and sale of the business. Before you attempt to move forward with a sale, addressing this issue should be an absolute priority of yours.What are your goals in life?Please provide a short explanation.Please nominate 4 items that represent your business's core values.Select 4 from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item. What is a core value? A company’s core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Core values are the fundamental beliefs of the business, and help the business determine if they are on the right path and correctly working towards their goals. Core values also drive decision making, helping individuals within the business make the right decisions by aligning the choice of decision with the company’s core values.AccountabilityCollaborationCommitmentCustomer ServiceEthicsFocus on the taskHonestyInnovationIntegrityPassion for ExcellenceQualityReliabilityResultsSafetySustainabilityClick here to learn more about core values × Accountability means when we commit, we deliver. We do what we say we will do We take responsibility for our actions and the quality and accuracy of our work Collaboration means we recognise that no single individual has a monopoly on wisdom. We listen to and evaluate ideas from everyone We communicate openly by sharing information and knowledge We work with each other, customers and suppliers to achieve the best outcome Customer Service means we always treat customers the way that we would want to be treated and we recognise that if it were not for our customers, we would not be here. We are courteous and enthusiastic We only make promises that we can keep and will do whatever we can to keep our promises We build relationships with customers based on trust and competence We are “quiet achievers” Ethics means we have a sense of right and wrong, and always act with consideration towards those around us. We recognise that our reputation is the most valuable asset we possess and we will not behave in ways that will jeopardise this Ethics means we have a sense of right and wrong, and always act with consideration towards those around us. We recognise that our reputation is the most valuable asset we possess and we will not behave in ways that will jeopardise this Honesty means we are open, sincere and truthful in our communication with customers, suppliers and fellow team members. We happily offer and receive constructive feedback from others We are not afraid to admit our mistakes or seek assistance when we need it Innovation suggests future growth and success will depend on our ability to remain creative, to continuously improve and to embrace change. We embrace change We actively monitor and respond to new trends in our markets Integrity is a valuable asset that can impact our future growth and sustainability. We are open, honest & trustworthy We are consistent in our behaviours, actions and decisions and remain aware of our impact on others We always act lawfully and ethically Integrity is a valuable asset that can impact our future growth and sustainability. We are open, honest & trustworthy We are consistent in our behaviours, actions and decisions and remain aware of our impact on others We always act lawfully and ethically Quality means our products and services always meet or exceed our customers’ expectations. We only work with partners who will commit to our quality standards We take responsibility for the quality and accuracy of our work We pay attention to detail to get it right the first time We would never engage in sub-standard work Reliability requires that we only make promises we can keep and we always keep our promises. If something needs to be done, we will take responsibility and get it done We keep our customers fully informed regarding order status and delivery time We will always make sure that our commitments are met If we are results driven we are committed to creating and sustaining a successful business. We are conscious of managing costs and eliminating waste We take responsibility for our actions and the quality and accuracy of our work We meet or exceed our key performance indicators Committment means we make things happen and we are here to be successful. We create an environment of accountability and have the drive to always do what we say we will do. If we commit we must deliver. We take responsibility for our actions and the quality and accuracy of our work We will do whatever needs to be done to get results If something needs to be done, we don’t wait for someone else to do it If safety is a core value, this requires a philosophy of zero harm – safety is our No 1 priority. We always take a leadership role in making safety a priority We all personally take responsibility for the safety of ourselves and others We never compromise safety for the sake of expediency We are always conscious of the safety of everyone on our job sites regardless of whether they are employees or contractors In current times, sustainability has become something of a buzzword. It is fashionable to appear environmentally resonsible, but if adopted as a core business value then we must apply best practice principles to everything that we do. Our solutions and implementation practices are environmentally efficient and sensitive and compliant For ANY selectionA values statement is a promise. A company's core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Actions speak louder than words, so generally when a business's actions are at odds with their values statement it ends in a decline in business. How do your core values relate to strategic planning? Your values will both inform and constrain the kind of goals you choose to achieve with your strategic planning. Your business values are the rails that your plan runs on. There may be faster or easier ways to achieve your goals, but if you take shortcuts, you risk breaking the promise of your values statement and operating without integrity. Under such circumstances it is very likely that this will negatively impact your sustainable growth. There are many examples where businesses sacrificed their values in pursuit of growth. In recent times, Volkswagen is an example. Understanding and abiding by your business' core values should not just impact your dealings with your customers, but should inform your dealings with your staff. It is well known and proven that businesses that employ people who share and demonstrate the same core values have a greater chance of success. Remember that it is possible for values to be at odds with one another when applied to business. For example, a commitment to results (getting the job done on time) may conflict with your commitment to quality or safety (cutting corners to deliver). You have nominated the following four core values. It is advised that you look closely at their definition and how they apply to your business. Discuss these core values with your wider team, confirming whether these are values are understood and agreed to by the whole team. If you have values misalignment across the people on your team then it is strongly advised that you invest time, not just realigning everyone with the values but, making sure that your stated values are in fact the right ones for your business.AccountabilityAccountability means when we commit, we deliver. • We do what we say we will do • We take responsibility for our actions and the quality and accuracy of our workCollaborationCollaboration means we recognise that no single individual has a monopoly on wisdom. • We listen to and evaluate ideas from everyone • We communicate openly by sharing information and knowledge • We work with each other, customers and suppliers to achieve the best outcomeCommitmentCommitment means we make things happen and we are here to be successful. We create an environment of accountability and have the drive to always do what we say we will do. If we commit we must deliver. • We take responsibility for our actions and the quality and accuracy of our work • We will do whatever needs to be done to get results • If something needs to be done, we don't wait for someone else to do itCustomer ServiceCustomer Service means we always treat customers the way that we would want to be treated and we recognise that if it were not for our customers, we would not be here. • We are courteous and enthusiastic • We only make promises that we can keep and will do whatever we can to keep our promises • We build relationships with customers based on trust and competence • We are “quiet achievers”EthicsEthics means we have a sense of right and wrong, and always act with consideration towards those around us. • We recognise that our reputation is the most valuable asset we possess and we will not behave in ways that will jeopardise thisFocus on TaskAs a core value, focus on the task means we do not let anything distract us from the job that we are tasked to do. • When we commit to a project, we deliver on itHonestyHonesty means we are open, sincere and truthful in our communication with customers, suppliers and fellow team members. • We happily offer and receive constructive feedback from others • We are not afraid to admit our mistakes or seek assistance when we need itInnovationInnovation suggests future growth and success will depend on our ability to remain creative, to continuously improve and to embrace change. • We embrace change • We actively monitor and respond to new trends in our marketsIntegrityIntegrity is a valuable asset that can impact our future growth and sustainability. • We are open, honest & trustworthy • We are consistent in our behaviours, actions and decisions and remain aware of our impact on others • We always act lawfully and ethicallyPassion for ExcellencePassion for excellence means that we strive to excel in everything that we do. • We strive to continuously improve our performance • We are passionate about achieving our goalsQualityQuality means our products and services always meet or exceed our customers' expectations. • We only work with partners who will commit to our quality standards • We take responsibility for the quality and accuracy of our work • We pay attention to detail to get it right the first time • We would never engage in sub-standard workReliabilityReliability requires that we only make promises we can keep and we always keep our promises. • If something needs to be done, we will take responsibility and get it done • We keep our customers fully informed regarding order status and delivery time • We will always make sure that our commitments are metResultsIf we are results driven we are committed to creating and sustaining a successful business. • We are conscious of managing costs and eliminating waste • We take responsibility for our actions and the quality and accuracy of our work • We meet or exceed our key performance indicatorsSafetyIf safety is a core value, this requires a philosophy of zero harm – safety is our number 1 priority. • We always take a leadership role in making safety a priority • We all personally take responsibility for the safety of ourselves and others • We never compromise safety for the sake of expediency • We are always conscious of the safety of everyone on our job sites regardless of whether they are employees or contractorsSustainabilityIn current times, sustainability has become something of a buzzword. It is fashionable to appear environmentally responsible, but if adopted as a core business value then we must apply best practice principles to everything that we do. • Our solutions and implementation practices are environmentally efficient and sensitive and compliant.Are you personally ready to sell your business?Please select Yes or No. Yes No Answer_3_1It's great to see that you are personally ready to make the next step. The road to a successful sale can be tricky, and the commitment to sell is a mandatory requirement if you want to succeed with the sale and get the most for your business. Answer_3_2Being personally ready and committed is the first step in the successful exit from your business. Without this readiness and commitment, you risk making highly emotional decisions without logic, and you risk making poor choices during times of stress and pressure in the exit process. To avoid this, it is imperative that you commit to the process, and only move ahead when you are ready.Please indicate why you are not ready to sell your business.Choose one of the options listed below.I don't know if I'm ready to make this moveI have concerns around what will happen after I sell the businessI haven't spoken to anyone close to me about selling the businessI believe the business has more potential and can achieve greater resultsI know the business is in a bad state and so will not achieve the optimum sale priceThe business has been in our family for generationsAnswer23_1So you are not sure if you are ready to make the move out of the business? Here are some tips to help you: 1. Sit down and take some time to evaluate your position in terms of the business and your personal life. Reflect on where the business is at, whether you have achieved what you wanted to out of the business, and what you want to achieve out of life. 2. Create a list of everything that is making you doubt whether you are ready to make this next move. 3. Review the list and add action items to address each of the doubts, next to each item. 4. Decide on the next steps: do you want to address the doubts and get yourself ready to transition out of the business, or, would you prefer to not consider exiting just yet?Answer23_2So you have concerns around what will happen after you sell the business? Here are some tips to help you: 1. Sit down and take some time to evaluate your position in terms of the business and your personal life. Reflect on where the business is at, whether you have achieved what you wanted to out of the business, and what you want to achieve out of life. 2. Create a list of everything that is making you worried about what will happen once you sell the business. 3. Review the list and add action items to address each of the concerns, next to each item. 4. Decide on the next steps: do you want to address the concerns, and get yourself ready to transition out of the business, or, would you prefer to not consider exiting just yet?Answer23_3As part of the decision making process around whether to exit or not, it's important that you discuss your thoughts and feelings with those close to you. Don't be worried about sharing your thoughts and feelings – talking through concerns, doubts, challenges and just throwing ideas around with people you trust is an important part of making important decisions.Answer23_4As you've indicated, the business has more potential in your view and could achieve greater results. That's fantastic – it's a good position to be in! You are in a control position, and are able to steer towards the future you envision. To do this, make sure you develop the right strategies, implement the right plans, and build the right team around you.Answer23_5As you've indicated, the business is currently in a bad state and would not achieve the optimum sales price. If you are willing to change this, then believe it or not, this is an opportunity in disguise (although it certainly might not look like it or feel like it!). To make the most of this opportunity you must develop the right strategies, implement the right plans, and build the right team around you.Answer23_6As a family owned business that has been running for potentially several generations, exiting can be a stressful, challenging period. There are numerous considerations that family businesses have to make when it comes time to sell. For such businesses, it is best to seek advice. It is critical that family members have open, honest conversations about the business and its future, ideally seeking advice from relevant professionals, including your accountant, solicitor, business broker and business advisor.Is the business ready to be sold?Please select Yes or No. Yes No answer31You have indicated that the business is ready to be sold. Your next step is to decide whether you want to start the sale process now, or, if you want to address some of the recommendations within this report with the goal of boosting the saleability of the business. If you are not in a rush, then it may be prudent to address some of the issues within the business, however, only do this if they will actually add value to the business and/or assist in selling the business.Please indicate why the business is not ready to be sold.Choose one of the options listed below.The business is me or is too reliant on key peopleThere are internal problems with business partners and/or others on the teamThe house is not in orderMy business partner/s don't want to sellanswer32_1When a business is operating with a heavy reliance on key people, be they the owner or other personnel, the risk factors associated with such a heavy reliance is amplified over time. These 'key person reliance' risk factors include, but are not limited to: • Performance impact due to loss of key staff • Intellectual property lost from the business • Competition getting hold of valuable knowledge if they attract one of your key staff • Lost time and money in having to source and train replacements • And more. Having in place strategies that reduce the risks of 'key person reliance' are absolutely vital. Such strategies include: • Knowledge dissemination such that one person does not have a strong hold on the business • Developing and maintaining procedure documents so that key knowledge and information is taken out of people's heads • Implementing adequate HR policies and procedures so that you can catch issues before they get out of control and potentially lead to key staff losses From a business owners' perspective, a business that is heavily reliant on you, and which in essence becomes you, carries additional risk in the form of impacting your ability to successfully exit the business. For this reason, one of your goals as the business owner should be to build an organsational structure that allows you to focus on the big picture, such as the overall strategy for developing the business further or to exit at some point in time. To do this, you will need to have the right people on your team, doing the right things, using the right systems and processes. Ultimately, you want your business to not be so reliant on you that you cannot extricate yourself from it, never taking a proper holiday and never really being able to exit on your terms. —— TAKE ACTION —— As an important next step, it is recommended that you review the suggestions from this report, and using the inbuilt task management function of the MyMalekso platform create your set of manageable tasks and actions for the purpose of business improvement. Remember that this report will help identify areas for improvement within your business, but if you require further assistance with implementing the actions required, then it is recommended that you engage a business advisor to help you.answer32_2Left unresolved this is a huge issue which often causes businesses to fail. Business partners not being on the same page will lead to more time spent on internal bickering than on focusing on growth and improvement activities. Team members going head-to-head present similar challenges, distracting from the task at hand, impacting the culture and making the workplace an uncomfortable environment for all. These factors can also impact your ability to successfully exit the business. THIS IS A CRITICAL ISSUE AND SHOULD BE TENDED TO AS ONE OF YOUR TOP PRIORITIES. Not being on the same page with business partners, or with conflict existing amongst the team, it will be very difficult to make the improvements that you feel are required. Lack of support can cause significant personal stress and may go as far as impacting the entire business. —— TAKE ACTION —— As an important next step, addressing this people conflict issue should be an absolute priority of yours. There may be many reasons, legitimate or perceived, why partners in a business don't share the same vision, and why team members have conflicts. Thankfully, there are tools such as Business Cultural Audits that can assist in uncovering true issues and working through them towards a resolution. As a minimum, engaging in open, constructive dialogue with any parties involved in conflict is a must. If required, use the services of an advisor such as a business consultant or solicitor, who may act as a mediator where required.answer32_3A business that is not in order may prove difficult to sell. Whatever internal issues you face, be they human, systems, or anything else, should be identified, prioritised in terms of importance, and then relevant action steps put in place to make any necessary changes in order to help you prepare the business ready to be listed for sale. —— TAKE ACTION —— As an important next step, it is recommended that you review the suggestions from this report, and using the inbuilt task management function of the MyMalekso platform create your set of manageable tasks and actions for the purpose of business improvement. Remember that this report will help identify areas for improvement within your business, but if you require further assistance with implementing the actions required, then it is recommended that you engage a business advisor to help you.answer32_4Not being on the same page as your business partner/s is a big issue. Without their support, it will be very difficult to sell your business and move on. Such lack of support can cause significant personal stress, and may go as far as impacting the entire business. Before you attempt to move forward with a sale, addressing this issue should be an absolute priority of yours. If required, use the services of an advisor such as a business advisor or solicitor.Nominate which of the following areas requires the primary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the primary focus?Please provide a short explanation.Nominate which of the following areas requires secondary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the secondary focus?Please provide a short explanation.Select the scenario that most closely describes your role in the company.Choose one of the options listed below.My role is unskilledMy role requires basic trainingMy role requires formal training and qualificationsanswer5_1_1You have advised that your role requires no formal skills or qualifications, indicating that a suitable buyer could be trained 'on-the-job'. You would need to consider how you would manage this training and its impact on your time to operate the business. You also need to consider if the provision of training would form part of the contract for sale. As part of getting your business sale ready, you should also be putting together a training and handover procedures document for the incoming new operator once the business is sold.answer5_1_2You have advised that your role requires basic training, indicating that a suitable buyer could be trained either 'on-the-job' or just before commencing in their new role. You would need to consider how you would manage this training and its impact on your time to operate the business. You also need to consider if the provision of training would form part of the contract for sale. As part of getting your business sale ready, you should also be putting together a training and handover procedures document for the incoming new operator once the business is sold. answer5_1_3The need to find a buyer who either has the right training and qualifications already, or, who will need to undertake formal training may make the sales process longer and more challenging. Being very clear with the role a new owner needs to play in the business is critical, and the question of whether you will need to stay on as part of a transition or handover period needs to be addressed before you start marketing the business for sale. As part of getting your business sale ready, you should also be putting together a training and handover procedures document for the incoming new operator once the business is sold. Select the scenario that most closely describes the financial position pertaining to your role in the company.Choose one of the options listed below.The company profit is my salaryMy salary is budgeted separately (that is, I am paid a regular salary)afb: company profit is my salaryWithout a dedicated salary for yourself, prospective buyers will want to understand the accuracy of your profit reporting, as well as what benefits you have received from the business that are in addition to the profits. Items such as car allowances, travel expenses and the like may need to be added back into your salary calculations in order to accurately represent potential owner earnings. It is important that you make sure these are clearly document – any doubt around your true profitability will impact your ability to sell the business.afb: salary is budgeted separatelyCongratulations on owning a profitable business. With no further action required in this area you can concentrate on other aspects of the business in order to maximise its value.Describe your salary.Choose one of the options listed below.My salary is sub industry/profession parMy salary is industry/profession standardMy salary is above industry/profession standardafb: My salary is sub industry/profession parIf your salary is sub industry or profession par because the business cannot afford to pay more, you need to consider the viability of the business as a whole. This situation can in most instances be rectified, however, this will require a combination of strategic planning and measured implementation. Getting clear visibility of your business is the first step, which you have actually already started simply by undertaking this MyMalekso questionnaire process. From here, the path is straightforward albeit can be quite complex and challenging, with the ultimate goal moving forward to be able to increase your salary by improving your business' cash position is. How you do this is by: * developing plans that address the issues and opportunities identified in this report followed by * the actioning of those plans. By addressing the problems in your business you put the business in a position where it can provide for a better customer and staff experience, it can deliver services more effectively and efficiently, the combination of which usually results in revenue growth and profit improvements. Furthermore, this helps strengthen the saleability of the business. Be aware the if you are planning to sell the business, then there will be the possibility that prospective buyers will want to know why the salary is lower than industry standard. Make sure you plan an appropriate response to this question; perhaps seek the help of an advisor if you are not already working with one. If on the other hand the business is profitable but you have chosen to declare a salary below industry/profession par then it is advisable to speak to your accountant to ensure that you are taking the best advantage of the current tax and superannuation laws.afb: My salary is industry/profession standardProvided the business is profitable, there is no further action on salary required other than to conduct an annual review of your remuneration.afb: My salary is above industry/profession standardDepending on the circumstances it may be advisable to speak to your accountant to ensure that you are taking the best advantage of the current tax and superannuation laws.The questions below should be answered by the second respondent/stakeholder.Please nominate 4 items that represent your business's core values.Select 4 from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item. What is a core value? A company’s core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Core values are the fundamental beliefs of the business, and help the business determine if they are on the right path and correctly working towards their goals. Core values also drive decision making, helping individuals within the business make the right decisions by aligning the choice of decision with the company’s core values.AccountabilityCollaborationCommitmentCustomer ServiceEthicsFocus on the taskHonestyInnovationIntegrityPassion for ExcellenceQualityReliabilityResultsSafetySustainabilityDo you want to sell your business?Please select Yes or No. Yes No Do you have to sell your business?Please select Yes or No. Yes No What are the driving factors behind needing to sell the business?Personal financesHealth issuesFamily reasonsWish to retireBoredHad enough of businessBusiness losing money or ineffectiveOtherPlease advise below.Please provide a short explanation.How fast do you need to sell the business?Choose one of the options listed below.I need it sold in under 1 monthI need it sold in under 3 monthsI need it sold in under 6 monthsNo rush, I'm happy to wait and sell to the right buyerWhat will you do after you sell the business?Choose one of the options listed below.RetireTake a long holidayGet a jobStart another businessBuy or join another businessI have no ideaHow happy are you with the decision to sell the business? Rate from 1 to 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910Does your life partner support you selling the business?Please select Yes or No. Yes No Does your family support your decision to sell the business?Please select Yes or No. Yes No What are your goals in life?Please provide a short explanation.Are you personally ready to sell your business?Please select Yes or No. Yes No Please indicate why you are not ready to sell your business.Choose one of the options listed below.I don't know if I'm ready to make this moveI have concerns around what will happen after I sell the businessI haven't spoken to anyone close to me about selling the businessI believe the business has more potential and can achieve greater resultsI know the business is in a bad state and so will not achieve the optimum sale priceThe business has been in our family for generationsIs the business ready to be sold?Please select Yes or No. Yes No Please indicate why the business is not ready to be sold.Choose one of the options listed below.The business is me or is too reliant on key peopleThere are internal problems with business partners and/or others on the teamThe house is not in orderMy business partner/s don't want to sellNominate which of the following areas requires the primary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the primary focus?Please provide a short explanation.Nominate which of the following areas requires secondary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the secondary focus?Please provide a short explanation.Select the scenario that most closely describes your role in the company.Choose one of the options listed below.My role is unskilledMy role requires basic trainingMy role requires formal training and qualificationsSelect the scenario that most closely describes the financial position pertaining to your role in the company.Choose one of the options listed below.The company profit is my salaryMy salary is budgeted separately (that is, I am paid a regular salary)Describe your salary.Choose one of the options listed below.My salary is sub industry/profession parMy salary is industry/profession standardMy salary is above industry/profession standardThe questions below should be answered by the third respondent/stakeholder.Please nominate 4 items that represent your business's core values.Select 4 from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item. What is a core value? A company’s core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Core values are the fundamental beliefs of the business, and help the business determine if they are on the right path and correctly working towards their goals. Core values also drive decision making, helping individuals within the business make the right decisions by aligning the choice of decision with the company’s core values.AccountabilityCollaborationCommitmentCustomer ServiceEthicsFocus on the taskHonestyInnovationIntegrityPassion for ExcellenceQualityReliabilityResultsSafetySustainabilityDo you want to sell your business?Please select Yes or No. Yes No Do you have to sell your business?Please select Yes or No. Yes No What are the driving factors behind needing to sell your business?Choose one of the options listed below.Personal financesHealth issuesFamily reasonsWish to retireBoredHad enough of businessBusiness losing money or ineffectiveOtherPlease advise below.Please provide a short explanation.How fast do you need to sell the business?Choose one of the options listed below.I need it sold in under 1 monthI need it sold in under 3 monthsI need it sold in under 6 monthsNo rush, I'm happy to wait and sell to the right buyerWhat will you do after you sell the business?Choose one of the options listed below.RetireTake a long holidayGet a jobStart another businessBuy or join another businessI have no ideaHow happy are you with the decision to sell the business? Rate from 1 to 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910Does your life partner support you selling the business?Please select Yes or No. Yes No Does your family support your decision to sell the business?Please select Yes or No. Yes No What are your goals in life?Please provide a short explanation.Are you personally ready to sell your business?Please select Yes or No. Yes No Please indicate why you are not ready to sell your business.Choose one of the options listed below.I don't know if I'm ready to make this moveI have concerns around what will happen after I sell the businessI haven't spoken to anyone close to me about selling the businessI believe the business has more potential and can achieve greater resultsI know the business is in a bad state and so will not achieve the optimum sale priceThe business has been in our family for generationsIs the business ready to be sold?Please select Yes or No. Yes No Please indicate why the business is not ready to be sold.Choose one of the options listed below.The business is me or is too reliant on key peopleThere are internal problems with business partners and/or others on the teamThe house is not in orderMy business partner/s don't want to sellNominate which of the following areas requires the primary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the primary focus?Please provide a short explanation.Nominate which of the following areas requires secondary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the secondary focus?Please provide a short explanation.Select the scenario that most closely describes your role in the company.Choose one of the options listed below.My role is unskilledMy role requires basic trainingMy role requires formal training and qualificationsSelect the scenario that most closely describes the financial position pertaining to your role in the company.Choose one of the options listed below.The company profit is my salaryMy salary is budgeted separately (that is, I am paid a regular salary)Describe your salary.Choose one of the options listed below.My salary is sub industry/profession parMy salary is industry/profession standardMy salary is above industry/profession standardThe questions below should be answered by the third respondent/stakeholder.Please nominate 4 items that represent your business's core values.Select 4 from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item. What is a core value? A company’s core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Core values are the fundamental beliefs of the business, and help the business determine if they are on the right path and correctly working towards their goals. Core values also drive decision making, helping individuals within the business make the right decisions by aligning the choice of decision with the company’s core values.AccountabilityCollaborationCommitmentCustomer ServiceEthicsFocus on the taskHonestyInnovationIntegrityPassion for ExcellenceQualityReliabilityResultsSafetySustainabilityDo you want to sell your business?Please select Yes or No. Yes No Do you have to sell your business?Please select Yes or No. Yes No What are the driving factors behind needing to sell your business?Choose one of the options listed below.Personal financesHealth issuesFamily reasonsWish to retireBoredHad enough of businessBusiness losing money or ineffectiveOtherPlease advise below.Please provide a short explanation.How fast do you need to sell the business?Choose one of the options listed below.I need it sold in under 1 monthI need it sold in under 3 monthsI need it sold in under 6 monthsNo rush, I'm happy to wait and sell to the right buyerWhat will you do after you sell the business?Choose one of the options listed below.RetireTake a long holidayGet a jobStart another businessBuy or join another businessI have no ideaHow happy are you with the decision to sell the business? Rate from 1 to 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910Does your life partner support you selling the business?Please select Yes or No. Yes No Does your family support your decision to sell the business?Please select Yes or No. Yes No What are your goals in life?Please provide a short explanation.Are you personally ready to sell your business?Please select Yes or No. Yes No Please indicate why you are not ready to sell your business.Choose one of the options listed below.I don't know if I'm ready to make this moveI have concerns around what will happen after I sell the businessI haven't spoken to anyone close to me about selling the businessI believe the business has more potential and can achieve greater resultsI know the business is in a bad state and so will not achieve the optimum sale priceThe business has been in our family for generationsIs the business ready to be sold?Please select Yes or No. Yes No Please indicate why the business is not ready to be sold.Choose one of the options listed below.The business is me or is too reliant on key peopleThere are internal problems with business partners and/or others on the teamThe house is not in orderMy business partner/s don't want to sellNominate which of the following areas requires the primary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the primary focus?Please provide a short explanation.Nominate which of the following areas requires secondary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the secondary focus?Please provide a short explanation.Select the scenario that most closely describes your role in the company.Choose one of the options listed below.My role is unskilledMy role requires basic trainingMy role requires formal training and qualificationsSelect the scenario that most closely describes the financial position pertaining to your role in the company.Choose one of the options listed below.The company profit is my salaryMy salary is budgeted separately (that is, I am paid a regular salary)Describe your salary.Choose one of the options listed below.My salary is sub industry/profession parMy salary is industry/profession standardMy salary is above industry/profession standardThe questions below should be answered by the fourth respondent/stakeholder.Please nominate 4 items that represent your business's core values.Select 4 from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item. What is a core value? A company’s core values underpin the guiding principles, code of conduct, and cultural code under which the business intends to operate. Core values are the fundamental beliefs of the business, and help the business determine if they are on the right path and correctly working towards their goals. Core values also drive decision making, helping individuals within the business make the right decisions by aligning the choice of decision with the company’s core values.AccountabilityCollaborationCommitmentCustomer ServiceEthicsFocus on the taskHonestyInnovationIntegrityPassion for ExcellenceQualityReliabilityResultsSafetySustainabilityDo you want to sell your business?Please select Yes or No. Yes No Do you have to sell your business?Please select Yes or No. Yes No What are the driving factors behind needing to sell your business?Choose one of the options listed below.Personal financesHealth issuesFamily reasonsWish to retireBoredHad enough of businessBusiness losing money or ineffectiveOtherPlease advise below.Please provide a short explanation.How fast do you need to sell the business?Choose one of the options listed below.I need it sold in under 1 monthI need it sold in under 3 monthsI need it sold in under 6 monthsNo rush, I'm happy to wait and sell to the right buyerWhat will you do after you sell the business?Choose one of the options listed below.RetireTake a long holidayGet a jobStart another businessBuy or join another businessI have no ideaHow happy are you with the decision to sell the business? Rate from 1 to 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910Does your life partner support you selling the business?Please select Yes or No. Yes No Does your family support your decision to sell the business?Please select Yes or No. Yes No What are your goals in life?Please provide a short explanation.Are you personally ready to sell your business?Please select Yes or No. Yes No Please indicate why you are not ready to sell your business.Choose one of the options listed below.I don't know if I'm ready to make this moveI have concerns around what will happen after I sell the businessI haven't spoken to anyone close to me about selling the businessI believe the business has more potential and can achieve greater resultsI know the business is in a bad state and so will not achieve the optimum sale priceThe business has been in our family for generationsIs the business ready to be sold?Please select Yes or No. Yes No Please indicate why the business is not ready to be sold.Choose one of the options listed below.The business is me or is too reliant on key peopleThe business is meThere are internal problems with business partners and/or others on the teamThe house is not in orderMy business partner/s don't want to sellNominate which of the following areas requires the primary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the primary focus?Please provide a short explanation.Nominate which of the following areas requires secondary focus.Choose one of the options listed below.Products/servicesStructureFinancePeopleOperations (Systems and Processes)Sales & MarketingCustomersTechnology (Digital Readiness)CompetitionFuture ProofingLegalOtherWhy did you select this as the secondary focus?Please provide a short explanation.Select the scenario that most closely describes your role in the company.Choose one of the options listed below.My role is unskilledMy role requires basic trainingMy role requires formal training and qualificationsSelect the scenario that most closely describes the financial position pertaining to your role in the company.Choose one of the options listed below.The company profit is my salaryMy salary is budgeted separately (that is, I am paid a regular salary)Describe your salary.Choose one of the options listed below.My salary is sub industry/profession parMy salary is industry/profession standardMy salary is above industry/profession standardAdvisory Feedbackpersonal_score personal_total_score GENERALWhat industry are you in?Choose one of the options listed below.Aged care industryAgricultural industryAmusement, events and recreation industryAnimal care and veterinary servicesBanking, finance and insurance industryBroadcasting and recorded entertainment industryBuilding servicesBuilding and civil construction industriesBusiness brokingBusiness consultingCafes and RestaurantsChildren's servicesCleaning servicesClothing industryCoal industryCommercial property salesDry cleaning and laundry servicesEducational servicesElectrical contracting industryFast food industryFood manufacturing industryGardening servicesHair and beautyHealth and welfare servicesHospitality industryLicensed and registered clubsLocal government administrationManufacturing and associated industriesMeat industryMining industryMiscellaneousNursery industryPharmaceutical industryPlumbing industryProfessional servicesRacing industryRail industryReal estate industryRetail industryRoad transport industryScientific servicesSecurity servicesSocial, community, home care and disability servicesSporting organisationsState and Territory government administrationTechnical servicesTelecommunications servicesTourism industryWaste management industryWine industryDid you start the business?Please select Yes or No. Yes No How did you acquire the business?Choose one of the options listed below.PurchasedInheritedManagement Buy OutHow is the business performing financially, compared to when you took over?Choose one of the options listed below.BetterWorseSameanswer50_1Anyone looking at buying a business tends to review historical data in detail, and is usually cautious and suspicious of a business that has shown poor performance history. Poor performance can be attributed to many factors above-the-line, such as changing market conditions and/or trends, failing to connect with your target audience, lack of business and marketing plans and strategies. Below-the-line, poor performance can be attributed to poor processes, irrelevant products or services, HR issues, supply chain issues and financial mismanagement. If you are not in a rush to sell, at this stage it may be worth considering 'cleaning up the house', such that the business presents in the best possible light when potential buyers look under the hood. The goal is to not only present a sale ready business, but, you also want to be able to present achievable growth forecasting which will help prospective buyers better understand the potential within the business. —— TAKE ACTION —— The first step in addressing performance issues is to understand the exact state of the business, followed by the development of strategies and plans aimed at addressing the issues identified, which are then appropriately actioned. This diagnostic report is the first step in reviewing the state of your business. • Depending on the issues identified, you may need further investigations in order to really get an understanding of the current state. If this is the case then create a task list around this current review, and then action each item appropriately. • Once you understand the current state of your business, you can move to the next stage which is all about developing strategies and plans. As the focus here is on sale readiness preparation, the planning stage is about providing annwers to the questions of 'what items need to be addressed in order for the business to be considered sale ready?' and 'how do we get there?'. • The last step is one that you will see often throughout this report: TAKE ACTION! Don't let plans remain plans. Take action and do everything you can to move you forward.answer50_2You've done well to improve business performance since taking over. Prospective buyers pay close attention to historical trends, and performance growth is something they want to see. Having said this, buyers don't just look at sales figures, and if you are not in a rush to sell then at this stage it may be worth considering 'cleaning up the house', such that the business presents in the best possible light when potential buyers look under the hood. The goal is to present a sale ready business, which includes being able to present achievable growth forecasting which will help prospective buyers better understand the potential within the business. —— TAKE ACTION —— You can't lose sight of perfromance when preparing a business for sale. As such, for enhanced performance it is suggested that you investigate above-the-line opportunities, such as refining your range of products or services and considering opportunities that help maximise repeat business and secure future revenue. Below-the-line, look at expenditures, supply chain efficencies, processes (manufacturing, distribution or administrative e.g. automate or digitise) and HR challenges and opportunities. Use this report, and your experience with your business and industry to develop actionable plans that address your strategic goals, and then get to work on those actions.What are the reasons for this performance?Choose one of the options listed below.Market conditions have affected the businessProducts/services becoming less relevant or sought afterCompetition is strongWe made mistakesanswer51_1In the fast paced world we now inhabit, strategic planning is essential. It is no longer acceptable to rely on the status quo. Market conditions can change rapidly and in fact whole markets can disappear overnight due to invention and advances in technology, scientific and political imperatives, local or global financial crises, shifting immigration patterns, automation, natural disasters, acts of terrorism or pandemics. However, these same situations generally create new market opportunities for businesses that are prepared. —— TAKE ACTION —— • Considering things from the sale readiness preparation perspective, if your business is still suffering due to the market conditions then identify the major areas of 'bleed', the areas of pain, and focus on getting those areas under control. A business full of problems tends to be more challenging to sell than one with problems under control. • If your exit is not urgent, then once you have the major areas under control you should be looking forward, giving your business the best chance for success through regular strategic planning, risk mapping and business continuity planning. Given the change in market conditions, these are recommended essential tools for future proofing your business. By undertaking these activities, you will be able to determine where further weak points lie, where opportunities exist in light of the changed market conditions and be better prepared to address further changes in market conditions and of course to put your business in a sale ready position. These activities can be quite overwhelming, especially if you haven't undertaken them before. A great starting point is to head online and spend time building your knowledge of these activities. If you have a team, get them involved, where relevant. When performance worsens in a business it is important to get all hands-on deck and 'right the ship'. It is also wise to have a chat with a business broker (if you haven’t already done so), and to involve your accountant or business advisor at this stage, for they may be able to help speed up the turnaround process.answer51_2In the fast-paced world we now inhabit, especially since COVID, strategic planning is essential. It is no longer acceptable to rely on the status quo. Trends evolve more rapidly than at any other time. Demand determines the quantities of a product or service that consumers are ready and able to purchase. Determinants include income, price, tastes, trends, expectations, and preferences as well as the size of your customer base and prevailing economic conditions. We also now live under the dome of social media, and a whole new industry of 'influencers' has grown up in recent years. Now, depending on your products or services, this may also demand your regular attention. Many consumer products roll out as upgrades and/or iterations, and failure to keep pace can be fatal. Advances in technology, buying habits, fashion trends and local or global events will impact the validity of your products or services. However, these same situations generally create new market opportunities for businesses that are prepared. No business is immune to such influences. —— TAKE ACTION —— This is a challenging position to be in if you are seeking to exit your business. From a sale readiness perspective, you need to address the concerns of the prospective buyer related to this issue of relevancy and dropping demand. If relevancy and demand are expected to get worse, then your challenge will be to identify ways of turning this around. If you are not urgently requiring selling your business, then it is strongly recommended that you conduct market and/or business to business research and in some cases even product development. Make this a priority activity, for without the right products/services your business will struggle to stay viable and will subsequently struggle to become sellable.answer51_3Strong competition generally indicates a healthy market. A competitive market is one when there are many producers/suppliers competing to provide the products and services needed. In such a competitive market, no single producer or consumer can dictate the market. So how can one gain a competitive advantage when there is competition? The most common ways of gaining a competitive advantage are by offering consumers greater value by means of lower prices or by providing greater benefits and services that justify higher prices. There is often room in the market for both strategies. Strong companies strive for a sustainable competitive advantage that becomes part of their Unique Selling Proposition (USP) as reflected in their marketing strategy and brand promise. —— TAKE ACTION —— From a sale readiness perspective, you need to address the concerns of the prospective buyer related to this issue of strong competition. In a heavily contested marketplace, it may feel like the only option a business has is to drop prices. This however is far from the truth. Included below are some suggestions you can consider. Each requires that you undertake a deep competitive review to really understand your competition. One key goal of this review is for you to identify areas where you are the same, better, or worse than the competition. This information will help you formulate plans to become more competitive and get ahead of the rest. Sales and Marketing: • Use the information you have identified in your analysis of your competitors (above), to review and update your sales and marketing strategy, and the subsequent sales and marketing plan. • Implement your plans and monitor their effectiveness, adjusting as needed. Differentiation: • Use the information you have identified in your analysis of your competitors (above), to build out some form of differentiation strategy for your business. For example, if your industry lags behind in terms of engaging with customers online, part of your differentiation strategy could be to expand online and build out a new, more engaging experience for your customers. • Coming up with a differentiation strategy requires two actions: 1. Whiteboard as many different ideas as you can come up with, then research these ideas, narrowing your list until you've established the best two or three options to implement. 2. You must be willing to experiment with ideas. It may take a few trials before you find something that will work well from a differentiation perspective. Don't fear making mistakes, learn from them! Operations: • Another powerful strategy to consider in competitive landscape is to focus inwards. • This means, looking at what you do, and focusing on doing what you do, but better! This can be anything from more efficient order management to more engaging customer service. Anything that can help improve what you do can assist in setting you apart from the rest.answer51_4The fact that you are willing to acknowledge that you have made mistakes which have directly impacted business performance is a credit to you. Making mistakes in business is absolutely normal. We've all been there. In fact, all you need to do is read the autobiography of any successful entrepreneur and you will uncover failures and mistakes which at times derailed them from reaching their objectives. While it is impossible to be perfect and never make mistakes, you can minimise the occurrence of these and reduce their impact. What sets apart the successful from those who never really make much of their business is the simple ability to reflect, learn from mistakes, and then to use those lessons to make business improvements and reduce future risk. Herein lies the power of reflection and being willing to face the facts. This doesn't come naturally for most of us, but with the willingness to take ownership, to reflect and learn, you will find yourself happier in your business, and more willing to 'have a go', try new things, while making adjustments in areas where perhaps in the past you would have not looked for fear of what you may 'uncover'. For this reason, tools such as business plans and marketing plans are proactively used by savvy business owners, helping them use the mistakes and the lessons of the past to better plan for the future. From a sale readiness perspective, transparency with prospective buyers (and your business broker and other members of your business sales team) will be critical. Upfront, honest discussions will help build trust and rapport, and will go a long way to minimising potential buyers being spooked out of a deal thanks to uncovering ‘hidden problems/issues’ that were not raised earlier on in the process.Explain in more detail.Please provide a short explanation.Do you think the performance can be turned around?Please select Yes or No. Yes No Why not?Choose one of the options listed below.The industry or market has changed and the business isn't viable in this current formThere are too many problems internally within this businessanswer7_1Unfortunately industries and markets do change and evolve, and this can catch businesses operating within them off guard. The challenge you will have with trying to sell a business that lags behind its industry or market is that such a business tends to not represent the ideal opportunity, and thus tends to command lower sales values when compared with businesses that have kept up with industry or market changes. Furthermore, such businesses usually sit on the market for much longer than the well presented opportunity. For these reasons, unless you need to sell now, the advice is to first address the key items that are holding the business back. Doing so will help realign the business with industry and market expectations, making it more sale ready and presenting it as a better opportunity for prospective buyers to consider when the time comes to sell. You may not be able to address performance issues in the time you are willing to commit to the business, but, at least if the business is better aligned with the industry and/or the market, it will be perceived as a more relevant opportunity by prospective buyers, which can speed up the sale process and improve the value of the business.answer7_3A business with internal problems can actually present an opportunity if the owner/s is willing to commit the necessary time and money to addressing the issues. Have a think about what you want to do moving forward: if you have the capacity left, then addressing the issues may well be an option you should consider. Doing so would help better align the business with the industry and market, and make it more attractive from a prospective buyers point of view. If you cannot commit to this, then be aware that these issues will need to be disclosed to anyone seeking to purchase the business, and may well impact both the speed with which you sell the business and the value that you sell for.How many years have you had this business?Use the slider below and move the marker left/right to decrease/increase the number of years.answer611Selling a business that you have owned for less than three years will generate questions of 'why' from prospective buyers. As a result, if you want the best outcome from selling the business then it is important that the business is presented in the most attractive manner possible. This may include items such as having all of the right documentation in place, including a business plan, and being able to show future forecasted growth and earnings. A conversation with a business broker and involving a business advisor in helping you formulate a sale readiness plan are highly advised.How old is the business?Use the slider below and move the marker left/right to decrease/increase the number of years.answer612 – > 10 yearsBeing around as a business for over 10 years is a great achievement, however, this can also be a hindrance when it comes time to sell. A mature business runs the risk of operating under a 'this is how it's been done for years' model. This means that the way the business undertakes activities, such as operational processes, have not changed much in many years. As such, these businesses run the risk of appearing outdated and behind the times when being placed up for sale. To improve your saleability it is strongly recommended that unless you are in a rush to sell, your business is made sale ready and presented in the most attractive manner possible. This includes undertaking business improvement activities that will elevate it's position into a modern, well functioning entity, having all of the right documentation in place, including a business plan, and being able to show future forecasted growth and earnings.What was your turnover last financial year?Choose one of the options listed below.Under $250,000$250,001 – $500,000$500,001 – $1,000,000$1,000,001 – $5,000,000$5,000,001 – $10,000,000$10,000,001+answer65_1 – Under 250kAs a small business that turned over under $250,000 last financial year, the challenge when looking to sell will be to position the business as a growth opportunity, as opposed to being an opportunity purely for someone wishing to buy a business for a job. Presenting a business opportunity may represent more value in the eyes of the prospective buyer, as opposed to a business which is really just a job. Some tips to achieve this include: • Demonstrate growth opportunities by presenting prospective buyers with a business strategy that has a strong growth component • Develop and implement procedures that can eliminate the need for the business owner to have to work in the business on a day to day basis (create a self-managed business opportunity) • Where possible, put customers on service agreements that are at least 12 months in duration • Where possible, lock in supplier prices for at least 12 months • If the business has staff, make sure they have employment/contractor agreements in placeanswer65_2 – 250k – 500,000As a small business that turned over under $500,000 last financial year, the challenge when looking to sell will be to position the business as a growth opportunity, as opposed to being an opportunity purely for someone wishing to buy a business for a job. A business opportunity may represent more value in the eyes of the prospective buyer, as opposed to a business which is really just a job. Some tips to achieve this include: • Demonstrate growth opportunities by presenting prospective buyers with a business strategy that has a strong growth component • Develop and implement procedures that can eliminate the need for the business owner to have to work in the business on a day to day basis (create a self-managed business opportunity) • Where possible, put customers on service agreements that are at least 12 months in duration • Where possible, lock in supplier prices for at least 12 months • If the business has staff, make sure they have employment/contractor agreements in placeanswer62_3 – 500k – 1MAs a small business that turned over between $500,001 – $1,000,000 last financial year, the challenge when looking to sell will be to position the business as a growth opportunity, as opposed to being an opportunity purely for someone wishing to buy a business for a job. A business opportunity may represent more value in the eyes of the prospective buyer, as opposed to a business which is really just a job. Some tips to achieve this include: • Demonstrate growth opportunities by presenting prospective buyers with a business strategy that has a strong growth component • Develop and implement procedures that can eliminate the need for the business owner to have to work in the business on a day to day basis (create a self-managed business opportunity) • Where possible, put customers on service agreements that are at least 12 months in duration • Where possible, lock in supplier prices for at least 12 months • If the business has staff, make sure they have employment/contractor agreements in placeanswer62_4 – 1M – 5MBusiness owners managing a business with a turnover of between $1 million and $5 million will often find themselves in one of three positions: 1. The business can run as a fully managed business, without their direct day to day involvement. This is the ideal scenario. 2. The business is still reliant on the business owner/s, however, the transition to becoming a managed business is under way. 3. The business and the business owner/s are tied together. Without the owner/s day to day involvement the business is at threat of falling apart. This is the most common scenario for most business owners. Selling a business where the business owner/s do not have to be involved day to day tends to be the most attractive proposition, often commanding a higher sale price. As such, one of your goals from a sale readiness preparation perspective will be to untangle yourself from the day to day running of the business. This is where having good people working according to well documented procedures, supported by the right systems and processes pay off in dividends for the business. In addition to the above, you will need to be able to demonstrate to prospective buyers that the business has solid growth opportunities and that your customers are ‘sticky’ (that is – repeat customers can be demonstrated, service contracts exist where possible, and any threat of customers leaving due to the current owners leaving is minimised).answer62_5 – 5M – 10MBusiness owners managing a business with a turnover of between $5 million and $10 million will often find themselves in one of three positions: 1. The business can run as a fully managed business, without their direct day to day involvement. This is the ideal scenario. 2. The business is still reliant on the business owner/s, however, the transition to becoming a managed business is under way. 3. The business and the business owner/s are tied together. Without the owner/s day to day involvement the business is at threat of falling apart. This is the most common scenario for most business owners. Selling a business where the business owner/s do not have to be involved day to day tends to be the most attractive proposition, often commanding a higher sale price. As such, one of your goals from a sale readiness preparation perspective will be to untangle yourself from the day to day running of the business. This is where having good people working according to well documented procedures, supported by the right systems and processes pay off in dividends for the business. In addition to the above, you will need to be able to demonstrate to prospective buyers that the business has solid growth opportunities and that your customers are ‘sticky’ (that is – repeat customers can be demonstrated, service contracts exist where possible, and any threat of customers leaving due to the current owners leaving is minimised).answer62_6 – 10M+Business owners managing a business with a turnover over $10 million will often find themselves in one of three positions: 1. The business can run as a fully managed business, without their direct day to day involvement. This is the ideal scenario. 2. The business is still reliant on the business owner/s, however, the transition to becoming a managed business is under way. 3. The business and the business owner/s are tied together. Without the owner/s day to day involvement the business is at threat of falling apart. Selling a business where the business owner/s do not have to be involved day to day tends to be the most attractive proposition, often commanding a higher sale price. As such, one of your goals from a sale readiness preparation perspective will be to untangle yourself from the day to day running of the business. This is where having good people working according to well documented procedures, supported by the right systems and processes pay off in dividends for the business. In addition to the above, you will need to be able to demonstrate to prospective buyers that the business has solid growth opportunities and that your customers are ‘sticky’ (that is – repeat customers can be demonstrated, service contracts exist where possible, and any threat of customers leaving due to the current owners leaving is minimised).Do you have a strategic business plan?Please select Yes or No. Yes No answer404 – NoRunning a business without a strategic business plan in place is like sailing without a compass in an unknown direction. All successful businesses use business strategies and careful, well executed planning to evolve and grow. It is through the development and implementation of strategic plans that: • existing markets can be dominated • new markets can be conquered or carved out • businesses become more profitable • business are able to ride through turbulent times Any prospective buyer of the business will be asking for the strategic business plans, and if you don't have one, they may struggle to see future opportunities that you know of, which in turn will affect their interest to buy the business or the amount they are willing to pay for it. A well thought out strategy gives readers insight into the business, clearly highlighting how the business plans to maintain and grow their market position, improve profitability and remain viable for many years to come. —— TAKE ACTION —— • Invest the time to develop a Strategic Business Plan • It is always a good idea to involve your team in this processWhen was this last reviewed and updated?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recallanswer460 – 12 months, 2 years, I don't recallStrategic planning is not a set and forget function. To be effective, Strategic Business Plans need to be reviewed, revised and updated every year. —— TAKE ACTION —— Based on your indication that you haven't reviewed your strategy in quite some time, we recommend you commence this review as one of your first tasks moving forward.Advisory Feedbackgeneral_score general_total_score PRODUCTS &/ OR SERVICESDoes your business sell physical products? (this includes food sold by a restaurant, products you manufacture as a manufacturer etc.)Please select Yes or No. Yes No Does your business manufacture or produce products in house?Please select Yes or No. Yes No In the next 2 years we will need to invest more resources (money, people, time, machinery, equipment) into our manufacturing or production capacity.Please select Yes or No. Yes No answer12_1You indicated that the business will need to invest into its manufacturing capacity over the next 2 years. This can be seen as both a negative and a positive from a prospective purchasers viewpoint. Negative: A required current or near-future investment into manufacturing may position the business to be seen as currently being outdated and inefficient. It may also limit the number of prospective buyers willing to purchase the business, knowing that they will need to spend even more money over the coming couple of years. Positive: On the flip side, investment into manufacturing may be seen as a growth indicator by prospective buyers. How the business is positioned when it comes time to sell will directly impact the perceptions the market place has of the business as a buying/investment opportunity. For this reason, where possible, any requirement to invest in manufacturing should be accompanied by a supporting business case, which should outline things such as the investment required and the expected benefits back to the business (financial, efficiency etc.). This can be communicated to prospective buyers once they have been vetted to be serious and committed buyers.What is the utilisation of your current production equipment?Use the slider below and move the marker left/right to decrease/increase the value. Meaning of ‘Utilisation’ in this instance:The amount of time that equipment are being used for productive work. 100% is full capacity, fully utilised. 50% for example refers to equipment being used half the available time allocated to productive work, and in theory they have more capacity to produce.What is the utilisation of your current manufacturing facility?Use the slider below and move the marker left/right to decrease/increase the value. Meaning of ‘Utilisation’ in this instance:The amount of space that is being used in your manufacturing facility for productive work. 100% is full capacity, fully utilised. 50% for example refers to only half the space being used for productive work, and in theory they have more space to expand production into. What is the utilisation of your current manufacturing team?Use the slider below and move the marker left/right to decrease/increase the value. Meaning of ‘Utilisation’ in this instance:The amount of time that the team’s available time is being used for productive work. 100% is full capacity, fully utilised. 50% for example refers to the team being used half the available time allocated to productive work and in theory they have more capacity to produce. answer114-115-116 > 0Utilisation rates provide a good indication of what issues and/or opportunities exist within a manufacturing business. When looking to sell a manufacturing business, presenting utilisation rates in a positive light can help present the sale as an opportunity to prospective buyers. Higher utilisation rates (80% +) can be used to demonstrate that the business is busy, and has a high workload. Lower utilisation rates (under 80%) can be used to demonstrate opportunities for improvement and opportunities to increase capacity without increasing many of the overheads. If you are not in a rush to sell then reviewing utilisation rates and addressing findings may be a good way to improve the bottom line. Here is an example of a scenario to explain this concept in more detail: In this instance we are dealing with manufacturing equipment and start with a basic equation as an illustration only:- You have purchased/mortgaged or leased floorspace which you have access to 24 hours a day. You have purchased/mortgaged or leased manufacturing equipment which you have access to 24 hours a day. You have variable service and maintenance costs. You have known manufacturing and support staff costs based around, let us say, an 8 hour shift and a 6 day week. You currently run a single manufacturing shift based around an 8 hour day. So let us assume four units of cost. • 1/ Floorspace is a fixed cost and presently, you are theoretically wasting 16 hours a day or 96 hours a week based around a 6 day week. • 2/ Manufacturing equipment is a fixed cost and presently, you are theoretically wasting 16 hours a day or 96 hours a week based around a 6 day week. • 3/ Service, maintenance and energy are variable costs with no wastage if managed correctly. • 4/ Manufacturing and manufacturing support staff is a fixed or known cost with no wastage if managed correctly. So, let us assume that a growing market exists for your products. If you run one manufacturing shift and you currently report high utlisation rates (80% +), this demonstrates that the business is busy, and has a high workload. But it may also indicate that you have the opportunity to run double or even triple shifts. This would require no further investment in the fixed costs of floorspace and equipment. Marginal increases in service, maintenance and energy costs could be forecast with reasonable accuracy and likewise additional staffing costs can be budgeted with accuracy. The example above refers specifically to utilisation of your plant and equipment. However, similar exercises can determine solutions for improving utilisation of your whole manufacturing facility and your personnel resource. For example, process studies will determine best practice procedures that generally highlight inefficiencies, reduce error counts, improve safety, improve workflow and demonstrate existing capacity for growth. It is strongly advised that you involve your advisors in this discussion, seeking guidance from them before you make any drastic changes to the business.Does your business have anything custom manufactured or produced for it by another business?Please select Yes or No. Yes No We need to consider manufacturing in house those products that are manufactured or produced for us by another business.Please select Yes or No. Yes No We need to consider having products manufactured for us by another business.Please select Yes or No. Yes No Our current suppliers are the right suppliers.Choose one of the options listed below. Yes No Some answer465 – No or SomeNot having the right suppliers in place directly impacts business profitability. For this reason, prospective buyers for your business will closely evaluate supplier relationships and will base some of their buying decisions on the suppliers your business has in place. If you are not yet ready to sell or wanting to sell, then this may be a good time to review your suppliers and see if you can either build better relationships with them, or, seek new suppliers who will provide better fit and value for your business. —— TAKE ACTION —— • Add 'supplier review' to your list of short-term tasks to complete.We have supplier contracts in place.Choose one of the options listed below. Yes No Some answer466 – No or SomeSupplier contracts help build confidence into a business, especially where prices with suppliers are secured through a contract of at least 12 months in duration. Prospective buyers will feel more confident in taking over a business that has supplier contracts in place – provided of course that these contracts are relevant and realistic. —— TAKE ACTION —— You have advised that not all of your suppliers are on supplier contracts. For this reason, the following are suggested: • Where you have existing contracts in place – it is time to review and update them as required and regularly thereafter where you can. • Where you do not have any contracts in place – it is time to consider whether securing supplier contracts is warranted. Of course it isn't realistic that every supplier can be placed on a contract, but if you can, it is advised to at least investigate and have the discussion with your suppliers, especially where you purchase regularly from the same supplier.We have exclusivity agreements in place.Choose one of the options listed below. Yes No Some answer467 – No or SomeExclusivity agreements help provide business certainty and differentiation. Having in place exclusivity agreements gives the business an advantage that will be attractive for the prospective buyer. —— TAKE ACTION —— • If possible, try and leverage relationships with suppliers and customers by securing such exclusivity agreements. There is no harm in at least exploring this as an idea.Does your business import products?Please select Yes or No. Yes No Does your business export products?Please select Yes or No. Yes No answer13_1Whether you import or export, there will be certain things that you will need to communicate to the market when the time comes to sell. These include things such as: * Whether you have any supplier contracts and exclusivity or licensing arrangements in place * Supporting documents outlining purchase continuity, especially if you are exporting * How currency fluctuations are managed * Currency fluctuation impact analysis on net profit When it comes to it, the future purchaser will want to know that the business they are about to buy will continue operating and that there are no hidden surprises as a result of export/import arrangements that you have or haven't put in place.Do you have an international trading plan in place?Please select Yes or No. Yes No answer12_3Fantastic, it's good that you have an international trading plan in place. Make sure it is up to date, and have it ready for review by prospective purchasers.answer12_4An international trading plan will help your business better manage international trading by identifying areas of opportunity while also ensuring that your business is addressing any relevant risks such as licensing, legal, logistics and currency fluctuations that may occur. —— TAKE ACTION —— • Your international trading plan is the key to a successfuly import/export operation. • Developing this plan is therefore an important action you should undertake if you are not in a rush to sell. • It is strongly recommended that you seek advice from both your accountant and a suitable import/export advisor who can guide you with this task. • If you are really tight on funds and cannot afford to spend money on an advisor, then make sure you that as a minimum you do your own research and spend time building your knowledge on how to improve your import/export operation.Do you have any retail stores?Please select Yes or No. Yes No Does your business sell/deliver/provide services of any type?Please select Yes or No. Yes No Select the type of service or types of services that your business provides.Select from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item.Health service (example: dentist)Human service (example: childcare, home nursing)Intellectual service (example: accounting)Logistics service (example: food delivery)Physical service (example: dry cleaning, gardening)Rental service (example: equipment hire)Wellness service (example: massage clinics)Other services – not listedWhat % of revenue comes from selling physical products (includes manufactured products)? A higher value indicates a higher % of total revenue, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.Does your business provide standard services that can be easily cloned, or, do you provide custom solutions?Choose one of the options listed below.Standard ServicesCustom SolutionsBothanswer13_2The risk with only providing standard services is that of falling into a 'me too' category from a branding and market perception point of view. It is thus important that your business adequately focuses not just on providing exceptional customer service and service delivery, but, is also building a unique brand position in the marketplace, helping it stand out from the rest of your competition. Doing so improves the value of your business by changing the 'me too' status into one that is more unique and refined. This in turn will attract more prospective buyers, helping potentially command more money for the business. answer13_3Providing custom solutions is a good mechanism for industry and market differentiation. Just make sure that if you are selling a business that provides custom solutions that you are able to leave the intellectual property around delivering the custom solutions within the business, with relevant systems and processes documented around this. If you do not have this knowledge easily accessible in the business and it is resting in your head, or the head of certain key people, then you run the risk of sabotaging the sale of the business. Why? Because prospective buyers will be very cautious of buying into a business where the service delivery knowledge is not built into the business via documentation, processes and systems, and is instead held by a few key people. This is a big risk to them, and they will seek to negotiate downwards in terms of dollar value as a result. Therefore – if you are providing custom solutions, and you are not in a rush to sell, then make sure you document procedures and systemise as much as possible, building that knowledge into the business.What % of revenue comes from providing custom services? A higher value indicates a higher % of total revenue, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.When was the last time you completed a full review of your products/services?Choose one of the options listed below.1 month ago3 months ago6 months ago1 year agoover one year agoneveranswer14_1If you are not in a rush to sell it is advised that you complete a full review of your products/services. As part of this review you want to make sure that you are selling/providing products/services that are still relevant and that your purchase prices are up to date. This will help the prospective buyer, when you decide to sell, geta more accurate representation f the business and shows them proactivity in the way you manage the business.What prompted you to undertake this review?Choose one of the options listed below.Following market researchFollowing competitor researchWe just felt we needed toFeedback from customersWhen was the last time you updated your prices?Choose one of the options listed below.1 month ago3 months ago6 months ago1 year agoover one year agoneveranswer93_1 – 1 year or OverIt is important to ensure that the prices your business charges are adequate to meet operational costs (which tend to rise each year) and generate a profit. Not having increased prices for over a year, you may now be missing out on gaining extra profit through increased prices. As part of your sale ready preparation, undertaking a price review may be a very valid exercice. —— TAKE ACTION —— • It is time to review your prices. Given the changing economic environment, it is quite possible that making small increases is required. The importance of raising prices, where possible, can be summarised as follows: a 1% increase in your prices gives a similar result to selling 4% more products/services. When considering price rises, it is important that you don't just guess at what the price changes should be. It is essential to develop a pricing mechanism that includes: • gaining a deep understanding of your pricing metrics • allowance for the testing of various pricing scenarios • a customer-facing pricing communication strategy Important note: don't go overboard with price increases. Aggressive changes can backfire and cause you more harm than good, so tread carefully!answer93_2 – NeverIt is important to ensure that the prices your business charges are adequate to meet operational costs (which tend to rise each year) and to generate a profit. Not ever having increased prices, you may now be missing out on gaining extra profit as a result of the market willing to pay higher prices for your products/services. It is important to note that It is easier to promote a small annual price rise than it is to make a large adjustment once cashflow is negatively impacted. —— TAKE ACTION —— • It is time to review your prices. Given the changing economic environment, it is quite possible that making small increases is required. The importance of raising prices, where possible, can be summarised as follows: a 1% increase in your prices gives a similar result to selling 4% more products/services. When considering price rises, it is important that you don't just guess at what the price changes should be. It is essential to develop a pricing mechanism that includes: • gaining a deep understanding of your pricing metrics • allowance for the testing of various pricing scenarios • a customer-facing pricing communication strategy Important note: don't go overboard with price increases. Aggressive changes can backfire and cause you more harm than good, so tread carefully!What prompted you to undertake this review?Choose one of the options listed below.Following market researchFollowing competitor researchWe just felt we needed toFeedback from customersOur products/services are the right ones for the market. Rate 1 to 10 where 1 is the lowest score (least likely) and 10 is the highest score (most likely).Choose one of the options listed below.12345678910answer95 – < 5You have indicated a low score for your products/services being the right ones for the market. This is a major issue and it is strongly recommended you address this prior to putting the business on the market. Without the right products/services, the business risks becoming obsolete and unviable. This in turn taints the opportunity and thus may make it very hard to sell in its current form. Here are some tips to help address this problem: – First, you need to understand the extent of the issue. The best way to do this is to list all of your products in a spreadsheet. Then, create the following new columns in that same spreadsheet: Keep, Update, Lose, Replace. Just to clarify: Keep = keep the product; Update = update required; Lose = Remove the product; Replace = replace the product. – With the spreadsheet created, you can now review each product by putting a '1' into the relevant column into which each product belongs. For example – if a product needs to go without it being replaced then put a '1' into the LOSE column for that product. – Once complete, add up the total score for each of the 4 columns of keep, update, lose and replace. – This will now give you an idea of the path you need to take first, helping you with the next steps, which will be to address the relevant keep, update, lose and replace products by developing an action plan of next steps. – The action plan you develop should aim to outline which products, and how, will need to be addressed in terms of the keep, update, lose, replace status you allocated to them. So this may be things such as finding new distributors, rewriting service content, buying new machinery to produce an updated version of your products etc. The importance of the above activity cannot be overstated: getting your product/service mix right will play an absolutely critical role in the success of the business.Our prices are the same as that of competitors.Choose one of the options listed below.YesHigherLowerI don't knowanswer15_2With similar pricing to competitors, prospective buyers will want to know that there are adequate competitive advantages and operational differentiators within the business to make it a competitive player. This will need to be adequately communicated in buyer facing documents. If there is a lack of such advantages, then the recommendation is to address this prior to listing the business for sale. This is also where having a well developed Strategic Business Plan, Marketing Strategy and Brand Style guide are useful. These documents aim to clarify your market position, helping you better understand what needs to be communicated in order to take the focus away from a direct price to price comparison with your competition.answer15_2_1It is important to understand where you are positioned with your pricing when compared with your competition. Having this knowledge helps you better understand pricing changes you may need to make, while also understanding what your communications strategy needs to consider when it comes to promoting your prices. For example – if your prices turn out to be higher than your competition, and you want to keep them so, then you may need to look at a pricing communication strategy that focuses on things like service and quality, as opposed to a low price focus. Our product/service mix needs to change.Please select Yes or No. Yes No answer478 – YesIf you are not in a rush to sell, it is recommended that you address the product/service mix issue. Successful businesses provide the right products and services to their target market, and this directly impacts their profitability and long term success. Addressing this prior to putting the business up for sale may generate better saleability prospects and improve the sales price. To do so, it is recommended that you first determine why the mix is wrong. Reasons might include, but aren't limited to: • Inability to adapt quickly to market trends etc. • Lack of adequate consumer and /or market research • Difficulty in sourcing the correct products or raw materials • The desire to liquidate overstocks • Staffing or cashflow issues Once you have identified or accepted the causes, you then need to ask yourself if you know what your product mix should be or, if you need to engage in research to enable an informed decision on what your offering should look like. Research is an invaluable tool in determining your company's future. The correct product or services mix is one which meets or exceeds your customers' needs and solves the problem as intended. Without knowing your customers' needs, you are simply relying on guesswork and past history, so depending on the nature of the business and the volatility of the marketplace, this may no longer be good enough. Getting your product/service mix right will play an absolutely critical role in the success of the business. —— TAKE ACTION —— • First, determine why your product/service mix is wrong. • Second, identify what the product/service mix should look like. If required, conduct market research. • With this information at hand the next stage requires you to address the reasons why the product/service mix is wrong, and take action to correct. The importance of the above activity cannot be overstated: getting your product/service mix right will play an absolutely critical role in the success of the business.Our customers understand our products/services.Please select Yes or No. Yes No afb: customers understand our products/servicesIt is essential to the viability of your business that your customers understand your products and services. Unfortunately it is all to common that many companies themselves, including their salespersons or marketing departments don't actually understand what their products are. How can this be? Well it's simple really, businesses get caught up in the day to day and find it difficult to take an objective view. As a very basic example, consider a company that manufactures or sells drill bits. They might concentrate their energies on providing the best possible drill bits: sharp, shiny, attractive packaging etc. but nobody actually wants a drill bit. The drill bit is a means to an end to achieve what they really want, which is a hole! So the sales and marketing message shouldn't be… "use ABC drill bits – they are terrific, well priced, sharp and shiny". What it should do is address the customer's needs… "ABC drill bits for the quickest, neatest holes". So, understanding what you are selling (or what your product or service is) is simply about understanding the consumer benefit. Only then can you best target your messages to your customers. The same applies from a saleability perspective; if you are looking to sell the business but your prospecting buyer doesn’t understand what you really do, then it can seriously hinder any ability to successful sell. You may wish to consider creating a Strategic Marketing Plan to help you design these messages, or if you have one, then reviewing and updating your messages where required.In 2 years time, our current products/services will still be relevant.Choose one of the options listed below. Yes No Some won’t be answer15_4Not having future relevant products or services is a major red flag for anyone who may consider purchasing your business. Unless you are in a rush to sell, it is strongly advised that you address this issue. Not addressing this will impact the saleability of the business and therefore reduce the value you can generate from a sale. In 2 years time we will be selling different products/services.Choose one of the options listed below. Yes No Some changes are expected answer15_5You have recognised that the business will be selling different products/services in the future. When looking to sell the business, showing prospective buyers thought given around how the business will mitigate such change is important. This should form part of the discussions in the business strategy.Anyone can easily access the suppliers of our products and become a reseller.Choose one of the options listed below. Yes No Certain Suppliers Yes I don’t know answer15_6With your suppliers easy to access, preventing competitors from taking your market position is a challenge prospective buyers of the business will want to know how to address. Discussing this in your business strategy will give prospective buyers of your business confidence that the business will remain viable when they take over.Our margins are higher than industry standard.Choose one of the options listed below. Yes No – our margins are the same as others No – our margins are lower than others I don’t know answer483 – LowerLow margins relative to other businesses in your industry can raise red flags for prospective buyers and will impact on the saleability of the business. Margin improvement strategies should be implemented before the business is listed for sale. The methods for developing such strategies is beyond the scope of this report, however, you should be aware that several options may be available to you, including, but not limited to: • Increasing prices • Improve your purchasing • Reduce operational costs/overheads • Reduce staff numbers and more. —— TAKE ACTION —— • It is suggested that you discuss financial issues such as low margins with your accountant, working with them to develop and implement your margin improvement plan.Advisory Feedbackproduct_service_score product_total_service_score STRUCTURELegal StructureIs the business:Choose one of the options listed below.Sole traderPartnershipCompanyTrustOtherafb: sole traderYou have indicated that you operate your business as a sole trader; you are the only owner. You control and manage the business and are legally responsible for all aspects of the business including the implementation of any actions recommended by this report.afb: partnershipYou have indicated that your business operates as a partnership. A partnership structure offers the ease and flexibility to run the business as individuals, eliminating the need to create a company structure and avoiding rigid reporting obligations. But while it's a great way to pool expertise and resources, creating a partnership also comes with its challenges. From a situational analysis point of view it is essential to determine the 'management' structure you employ, in other words, who is responsible for what, including the implementation of any actions recommended by this report. Ensuring that all partners are on the same page when it comes to the topic of exiting the business will be paramount if you want to achieve a successful exit.afb: companyWith a formal company structure in place it is essential that all directors are on-board with the implementation of any recommendations arising from this report. Ensuring that all shareholders are on the same page when it comes to the topic of exiting the business will be paramount if you want to achieve a successful exit.Are you the sole shareholder?Please select Yes or No. Yes No How many other shareholders are there?Choose one of the options listed below.12345+Are all shareholders aware you are seeking exit planning advice?Please select Yes or No. Yes No Are all shareholders in agreeance with selling the business?Please select Yes or No. Yes No Have you discussed the option of either the other shareholders or the management team buying out your shares – as opposed to a full sale?Please select Yes or No. Yes No answer15_8Rather than selling the business as a whole, one consideration is to discuss the shareholders and/or management buying out your shares. This could be a solution where the shareholders as a collective cannot agree on a way forward. You will need to seek advice on approaching this scenario: make sure you involve your advisor in such discussions, in addition to your lawyer and accountant.Are you a director?Please select Yes or No. Yes No How many directors are there in total?Choose one of the options listed below.12345678910Do you believe all directors share the business's goals and vision?Please select Yes or No. Yes No answer282 – NoWhen policy and business decisions are made by more than one director in a business (which means the decision is made at a board level), it is critical to understand that all directors must share the same vision and goals, otherwise such policy and business decisions may be ill informed. As an example, a director that seeks faster growth or even wants to work towards listing as a public company, may cast his or her vote according to that goal, which may be in direct conflict with the desires of the other director in the business. Such mismatches in vision and goals have the ability to completely destroy a business. Critically – Ensuring that all shareholders are on the same page when it comes to the topic of exiting the business will be paramount if you want to achieve a successful exit. —— TAKE ACTION —— • If you feel that this is a problem now or could become a problem in the future, then as a minimum it is critical that you sit down with all other directors in the business and jointly review and adjust/update/agree/disagree on the business' vision and goals. • Anything the directors disagree with that cannot be addressed may require intervention by a suitable professional. Failing to resolve these issues is not ideal, as this may keep causing problems until they are addressed and has the potential of derailing any attempts to sell the business.Management StructureAre you the owner and you also act as the CEO or General Manager of the business?Please select Yes or No. Yes No Are the CEO and General Manager roles held by the same person or different people?Choose one of the options listed below. Same Different Is the CEO role held by another shareholder?Please select Yes or No. Yes No answer16_1Something to think about: Is that person a potential buyer of your shareholding and could you provide vendor finance for the buyout?answer16_2Something to think about: Is that person a potential buyer of your shareholding, would this be an acceptable arrangement with other partners/shareholders and could you provide vendor finance for the buyout?Can the business operate without you?Please select Yes or No. Yes No Can the business operate completely without your guidance?Please select Yes or No. Yes No How much is the business reliant on you – rate out of 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910answer137_1 – 1 through 5You have indicated that there is some reliance on you in the business. A tasking study is recommended to determine how or if, various roles might be re-allocated to further reduce your involvement in the day-to-day running of the business. A tasking study simply lists every single task in the business that you and the senior members of your team, are involved with. Armed with these lists, you can determine which of your tasks can be off-loaded to other members of your team. Most owners and managers are surprised how much can be delegated to other team members. This might involve some training and or business coaching for other people on your team, be they other owners or employees. The purpose of this is to: • Release you to better concentrate your energies on growth and strategy • Allow you more leisure time • Allows your team to develop more responsibility • Further solidify the 'managed business' structure, which makes it more appealing from a prospective buyers point of view should you choose to exit or sell at some point in the future —— TAKE ACTION —— • Undertake a tasking study and, using that, develop and implement a delegation plan. • If you do not have experience with this then engaging a suitable advisor is recommended.answer137_2 – 6 through 10You have indicated that there is considerable reliance on you in the business. The more reliant a business is on you, the more challenging it may prove to sell that business. As such, it is recommended that you complete a Knowledge, Skills & Attributes (KSA) study and a tasking study. It might also be worth considering developing a Company Skills Matrix. In addition to providing you with a valuable picture of your company's personnel dynamics, these studies often identify hidden talent or 'superstars' suitable for management ascendancy. It will also determine how, or if, various roles might be re-allocated to reduce your involvement. This might involve some training and or business coaching for other people on your team, be they other owners or employees. The purpose of this is to help build the 'managed business' structure to: • Release you to better concentrate your energies on growth and strategy • Allow you more leisure time • Allows your team to develop more responsibility • Further solidify the 'managed business' structure, which makes it more appealing from a prospective buyers point of view should you choose to exit or sell at some point in the future —— TAKE ACTION —— • Completing a KSA study is suggested, as well as undertaking a tasking study and, using that, develop and implement a delegation plan. • If you do not have experience with these then engaging a suitable advisor is recommended.What happens in your business when you are not around, is there someone in charge?Please select Yes or No. Yes No Are you available or interested in a chairman or advisory board member's role should you opt to sell the business?Please select Yes or No. Yes No answer18_3Selling a business does not necessarily have to mean stepping completely away. It may be worth your time to consider taking on an advisory or Board role, should the business warrant such a role. Such a move could keep you active still, to an extent, but remain out of the day to day aspects of actually operating the business.Does your business have a divisional structure? Such a structure has clear divisions, such as sales and marketing, production, etc, with each division consisting of its own team, including team leader or managerPlease select Yes or No. Yes No How many divisions do you have? (e.g. production, administration, etc.)2345678910The questions below should be answered by the second respondent/stakeholder.Can the business operate without you?Please select Yes or No. Yes No How much is the business reliant on you – rate out of 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910What happens in your business when you are not around, is there someone in charge?Please select Yes or No. Yes No The questions below should be answered by the third respondent/stakeholder.Can the business operate without you?Please select Yes or No. Yes No How much is the business reliant on you – rate out of 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910What happens in your business when you are not around, is there someone in charge?Please select Yes or No. Yes No The questions below should be answered by the fourth respondent/stakeholder.Can the business operate without you?Please select Yes or No. Yes No How much is the business reliant on you – rate out of 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910What happens in your business when you are not around, is there someone in charge?Please select Yes or No. Yes No The questions below should be answered by the fourth respondent/stakeholder.Can the business operate without you?Please select Yes or No. Yes No How much is the business reliant on you – rate out of 10 with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910What happens in your business when you are not around, is there someone in charge?Please select Yes or No. Yes No ReportingDo you run internal management meetings?Please select Yes or No. Yes No answer441 – NoYou have indicated that you do not run management meetings. The purpose of management meetings is for the management team to have visibility over the business. Not running management meetings opens you up to the risk of having to react to unforseen situations, instead of proactively acting before issues become more serious. Well run management meetings may not only improve communication and productivity, but also foster a sense of involvement and engagement, in addition to often being valuable for team building. —— TAKE ACTION —— Grab your calendar and schedule your first monthly management meeting. Use the tips below to help guide you with this meeting: • Schedule them in several months in advance and make sure everyone who needs to attend knows the schedule and agrees to it. • Set and adhere to fixed timeframes. • Set clear agendas, distributing these prior to the management meeting. • If the team has to review anything prior to the meeting, make sure copies have been distributed at least 1 business day prior. • Take minutes during the meeting. • Agree upon action items, delegating these and setting appropriate timeframes to action. • Distribute the minutes to everyone no later than 1 business day after your monthly management meeting.Describe your management meeting process.Please provide a short explanation.How often do you run internal management meetings?Choose one of the options listed below.weeklymonthlybi-monthlyquarterlyevery six monthsonce per yearad-hoc (no set regularity)answer143 – Not weekly or monthlyYou have indicated that your management meetings are run infrequently, which opens you up to the risk of having to react to unforseen situations, instead of proactively acting before issues become more serious. Well run management meetings may not only improve communication and productivity, but also foster a sense of involvement and engagement, in addition to often being valuable for team building. —— TAKE ACTION —— Grab your calendar and schedule your first monthly management meeting. Use the tips below to help guide you with this meeting: • Schedule them in several months in advance and make sure everyone who needs to attend knows the schedule and agrees to it. • Set and adhere to fixed timeframes. • Set clear agendas, distributing these prior to the management meeting. • If the team has to review anything prior to the meeting, make sure copies have been distributed at least 1 business day prior. • Take minutes during the meeting. • Agree upon action items, delegating these and setting appropriate timeframes to action. • Distribute the minutes to everyone no later than 1 business day after your monthly management meeting.Do you run internal team meetings?Please select Yes or No. Yes No answer412 – NoNot running internal team meetings is like sailing without regularly checking your map and compass for accuracy of direction. Without team meetings it may be challenging for individuals and teams to have visibility over what they are doing and how they are performing. Furthermore, not running team meetings reduces the focus on accountability and as a result may decrease productivity and the level of focus within teams. Regular team meetings foster a sense of involvement and engagement in addition to often being valuable team building exercises. —— TAKE ACTION —— Grab your calendar and schedule your first internal team meeting. Use the tips below to help guide you with this meeting: • Schedule them in several months in advance and make sure everyone who needs to attend knows the schedule and agrees to it. • Set and adhere to fixed timeframes. • Set clear agendas, distributing these prior to the internal team meeting. • If the team has to review anything prior to the meeting, make sure copies have been distributed at least 1 business day prior. • Take minutes during the meeting. • Agree upon action items, delegating these and setting appropriate timeframes to action. • Distribute the minutes to everyone no later than 1 business day after your internal team meeting. • Final point: don't feel like these meetings need to go for long. If you can get everything discussed in 10 minutes then fantastic! Take as long as you need, just be cautious of wasting time and rambling on for too long.How often do you run internal team meetings?Choose one of the options listed below.weeklymonthlybi-monthlyquarterlyevery six monthsonce per yearad-hoc (no set regularity)answer415 – Not weekly or monthlyYou have indicated that your internal team meetings are run infrequently. Without regular team meetings it may be challenging for individuals and teams to have visibility over what they are doing and how they are performing. Furthermore, not running team meetings reduces the focus on accountability and as a result may decrease productivity and the level of focus within teams. Regular team meetings foster a sense of involvement and engagement in addition to often being valuable team building exercises. —— TAKE ACTION —— Grab your calendar and create your schedule of internal team meetings, running as a minimum once per month, but ideally more frequently. Use the tips below to help guide you with this meeting: • Schedule them in several months in advance and make sure everyone who needs to attend knows the schedule and agrees to it. • Set and adhere to fixed timeframes. • Set clear agendas, distributing these prior to the internal team meeting. • If the team has to review anything prior to the meeting, make sure copies have been distributed at least 1 business day prior. • Take minutes during the meeting. • Agree upon action items, delegating these and setting appropriate timeframes to action. • Distribute the minutes to everyone no later than 1 business day after your internal team meeting. • Final point: don't feel like these meetings need to go for long. If you can get everything discussed in 10 minutes then fantastic! Take as long as you need, just be cautious of wasting time and rambling on for too long.Do you run management meetings within your divisions?Choose one from the options listed below.Yes in every divisionYes for some divisionsWe don't run management meetings at allHow often do you run management meetings? Please select as many as relevant. As an example, you may run meetings monthly in one division, while another runs them weekly. In such a case you would select both the weekly and the monthly options.Please select any from this list that are relevant. Weekly Fortnightly Monthly Every Quarter Every Six Months Annually Ad Hoc at random times Never Which of the following do you use as part of managing these meetings? Select as many as are relevant. Agenda Meeting Minutes Action/tasking sheet None Do you run team meetings within these divisions?Choose one from the options listed below.Yes in every divisionYes for some divisionsWe don't run team meetings at allHow often do you run team meetings? Please select as many as relevant. As an example, you may run meetings monthly in one division, while another runs them weekly. In such a case you would select both the weekly and the monthly options.Please select any from this list that are relevant. Weekly Fortnightly Monthly Every Quarter Every Six Months Annually Ad Hoc at random times Never Which of the following do you use as part of managing these meetings? Select as many as are relevant. Agenda Meeting Minutes Action/tasking sheet None How often does your senior management from all divisions get together to review business reports, business information, talk big picture strategy etc. with the senior executives/owners of the business?Please select any from this list that are relevant. Weekly Fortnightly Monthly Every Quarter Every Six Months Annually Ad Hoc at random times Never Which of the following do you use as part of managing these meetings? Select as many as are relevant. Agenda Meeting Minutes Action/tasking sheet None How often do you review key reports such as financial profit and loss statements, absenteeism reports, inventory reports etc.Choose one of the options listed below.dailyweeklymonthlybi-monthlyquarterlyevery six monthsonce per yearad-hoc (no set regularity)neveranswer145 – InfrequentNot instigating regular reporting and/or failing to review important reports such as financial reports (and the like) on a regular basis, is one of the most common oversights in business. Unless you regularly review important reports, not only is it a waste of time, money and energy creating them, it may de-motivate the authors and can result in management and owners missing the vital warning signs of potential problems. As you have indicated in your response, this review is less frequent than the minimum recommended monthly reviews. The trouble with infrequent, irregular reviews is that you are leaving too much time between data and information updates (which are found in reports). This in turn decreases the chances of picking up on trends or issues that could either become a problem to the business if not addressed quickly enough, or more positively, highlight an opportunity that should be acted on by the business. —— TAKE ACTION —— • Grab your calendar and create a recurring schedule of report reviews. It is critical that you set aside time to do this at least once per month. In most businesses more frequent reviews are warranted, with some business owners opting for weekly reviews. • The reviews don't need to be overly long. Only spend as much time as needed to complete this activity, so if that can be done in 15minutes then don't worry, that's better than not doing anything! • If possible, and where relevant, involve key people from your team in this process.Further to the previous question, which reports do you review?Please select any from this list that are relevant. P&L Balance Sheet Bank Statements Cashflow Forecast Budget Debtors Absenteeism Incidents/WHS Issues Customer Complaints Register Inventory Levels Stock Turnover Days Sales and Marketing Data Report Advisory Feedbackstructure_score structure_total_score FINANCIALObligationsDo you have any debts in the business?Please select Yes or No. Yes No answer21_1Congratulations on running a debt free business! This is an enviable position to be in, especially if you are profitable and growing at the same time. Having said this, don't be afraid to consider debt as leverage, if it means you could achieve greater things and that using the debt could generate you more revenue, make you more competitive and boost your profitability.Please advise of the debt you currently have, including the amount and term left.Click the + button to add more rows.Debt TypeDebt AmountTerm Left Are you always able to meet your repayment obligations?Please select Yes or No. Yes No answer163 – NoInability to meet repayment obligations is a red flag that may leave prospective buyers of the business questioning the business' viability and its financial position. It is important that you take steps to address any financial challenges you may be having ideally before listing the business for sale. A financially sound business will in general attract higher values and greater interest than one that is having various financial difficulties. —— TAKE ACTION —— • It is important that you take steps immediately, such as talking to your accountant and/or financial advisor to address any financial challenges you may be facing. • The WORST thing you can do is nothing, burying your head in the sand and hoping that financial issues will all go away. Address issues that impact your business' financial position head on, with of course guidance from your account and/or financial advisor.Are your activity statements up to date?Please select Yes or No. Yes No Are your business tax returns up to date?Please select Yes or No. Yes No answer166-168 – NoIt is essential that before you list the business on the market to sell that you ensure that your activity statements and tax returns are all up to date as required. Not having these up to date will make it more challenging to attract buyers and to sell at the best possible price in the shortest amount of time. —— TAKE ACTION —— • Talk to your accountant for further advice regarding this, as outstanding Activity Statements can haunt you and your business if not addressed.ManagementDo you have a Bookkeeper?Please select Yes or No. Yes No answer169 – NoAs a general rule, using the services of a good bookkeeper saves time, money and generates efficiencies for the business owner. Yes it comes at a cost, but that cost helps ensure that as a business owner you focus on things you are good at, which in most instances isn't actual bookkeeping.Are they internal or external?Choose one of the options listed below. Internal External How often do you meet with your accountant to discuss the financials of the business?Choose one of the options listed below.neverweeklymonthlybi-monthlyquarterlyevery six monthsonce per yearanswer25_1It is important that you meet with your accountant at least once every 6 months (which is fine in most micro-businesses), and at least once every 3 months if you are running a multi-million dollar operation. Accountants provide far more value than help with end of year tax returns and can provide the business owner with advice and guidance on a range of business-specific topics, such as financial management, operations advice, structure advice and more. A good accountant can help your business grow from strength to strength and will become a close ally of yours.Financial HealthDid your business generate an overall profit or loss for the last financial year?Choose one of the options listed below. Profit Loss answer443 – LossGenerating a loss in a business is never ideal, especially when you are looking to sell that business. In this instance, what you do next really depends on a number of factors, such as: • How long you can carry on trading when you are generating a loss • How much debt the business is carrying • What you forecast in terms of revenue and profit for the coming 12 months • What opportunities exist for the business in its current state • How long you are willing to persevere with the business in its current state —— TAKE ACTION —— Making financial recommendations when the business is running at a loss is not within the scope of this document. However, the purpose of this question is to focus your attention on the issue. The following information is provided as a general rule of thumb if you seek to return to profit, or seek to position your business in the best light if you seek to sell it: a. Review and adjust your fixed and variable outgoings, minimising unnecessary expenses. b. Review and adjust your staffing, production/assets/manufacturing utilisation amounts and stock holding requirements. Often businesses running at a loss do so as a result of having too many staff, under-utilising assets such as manufacturing equipment, wasting assets (e.g. unsold production runs) and carrying too much stock. c. Increase your sales and marketing activities to ensure your message is clear and reaches your target audience efficiently. d. Develop KPIs (key performance indicators) to determine and streamline the return on investment. e. Develop and implement a growth strategy, focusing on improving utilisation rates, increasing turnover, increasing margins, expanding your customer base and adjusting your service/product portfolio in a way that reduces slow movers and increases focus on bestsellers and best margin services/products. Before you do any of the above however, make sure you have met with your accountant for their honest advice on your situation, and work closely with them on any improvement activities.What was the net profit?Choose one of the options listed below.$0 – $25,000$25,001 – $50,000$50,001 – $100,000$100,001- $250,000$250,001 – $500,000$500,001 – $1,000,000$1 million – $2 million$2 million+What was the net loss?Choose one of the options listed below.$0 to -$25,000-$25,001 to -$50,000-$50,001 to -$100,000-$100,001 to -$250,000-$250,001 to -$500,000-$500,001 to -$1,000,000-$1 million to -$2 million-$2 million+answer27_1This is a serious loss, an issue that should be addressed as a matter of priority. Unless you are in a position where an exit must take place urgently in order to avoid the collapse of the business, the recommended next step is to engage your accountant and an external business advisor to help you develop a profit improvement strategy. Are you relying on financing to manage the cashflow within your business – such as overdraft facility?Please select Yes or No. Yes No Which of these financing options do you use to fund cash flow?Select from the list below by holding the CTRL or COMMAND key on your keyboard while choosing options. To deselect, simply hold the CTRL or COMMAND key on your keyboard and click on a selected item.ATOCredit CardsGeneral LoansOverdraftI put money into the businessInvoice financingOperationsDoes the business require access to capital on an ongoing basis in order to pre-purchase goods/services?Please select Yes or No. Yes No answer28_1Having to pre-purchase products/supplies is a standard business activity, however, caution must be had. As you know, tying up capital can make it harder to manage general business costs, forcing the business to borrow money. This is an issue that prospective buyers of your business will take into consideration, and will want to see reassurance in the form of stock turnover data and sales revenue data (past, current and future projections). Having this information ready, before you list the business for sale, is strongly recommended.How much running capital does the business require at any point in time? A higher value indicates a higher amount of running capital, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.What are the 3 biggest expenses in your business?Please select 3 from this list. Permanent staff Casual Staff Contractors Utilities Stock or inputs Property mortgage or lease Vehicle expenses Equipment leases or repayments Equipment maintenance Marketing Travel Other not listed here Please advise what these other expenses are.Click the + button to add more rows. DocumentationPlease upload the following documents from the last 3 full financial years, along with year to date documents for the current financial year: * P&L * Balance Sheet * Asset Sheet Drop files here or Select files Accepted file types: pdf, jpg, gif, png, doc, xls, docx, html, odt, xlsx, ods, ppt, pptx, txt, jpeg, mp4, mp3, Max. file size: 100 MB. Advisory Feedbackfinancial_score financial_total_score HUMAN RESOURCESStructureHow many people work for you, including permanent, casual, full time, part time staff and contractors?Choose one of the options listed below.012-56-1011+answer555_1 – 0Let's face it, without any staff, in 99.99% of the cases the business is your job, and your job is your business. Selling a one person operation is difficult, and in most cases the value is really limited to your stock, work in progress, some IP and equipment (if you have any) and any contracts you may have in place with customers. Unless you must sell, it is recommended that you build up the business by expanding your customer base, work on implementing systems and processes, and work towards one day being able to replace you completely out of the business.answer555_2 – 1You are on your way to building a business, and not just having a 'job business'. Let's face it however, in 99% of cases such a small business is your job, and your job is your business. Selling a micro operation is difficult, and in most cases the value is really limited to your stock, work in progress, some IP and equipment (if you have any) and any contracts you may have in place with customers. Unless you must sell, it is recommended that you build up the business by expanding your customer base, work on implementing systems and processes, and work towards one day being able to replace you completely out of the business.answer555_3 – 2 to 5With 2-5 staff, your business is in most cases on the way to becoming a true business: one which can operate without you having to micro manage every detail, and which can operate when you are away for business or leisure. If you have already achieved this milestone then congratulations – that is a big deal, many business owners never truly achieve this. Unless you must sell, it is recommended that you continue build up the business by expanding your customer base, work on implementing systems and processes, and work towards one day being able to replace you completely out of the business, turning the business into a self-managed business. This is when you can unlock true value out of a sale.answer555_4 – 6 to 10With 6-10 staff, your business is in most cases on the way to becoming a true business: one which can operate without you having to micro manage every detail, and which can operate when you are away for business or leisure. If you have already achieved this milestone then congratulations – that is a big deal, many business owners never truly achieve this. Unless you must sell, it is recommended that you continue build up the business by expanding your customer base, work on implementing systems and processes, and work towards one day being able to replace you completely out of the business, turning the business into a self-managed business. This is when you can unlock true value out of a sale. At this level, you must also ensure you are building adequate human systems and succession plans. Once you get close to 10 staff, you should start considering adding in a layer of management below you, helping you better manage your team and the business.answer555_5 – 11+With 11+ staff, your business is in most cases on the way to becoming a true business: one which can operate without you having to micro manage every detail, and which can operate when you are away for business or leisure. If you have already achieved this milestone then congratulations – that is a big deal, many business owners never truly achieve this. Unless you must sell, it is recommended that you continue build up the business by expanding your customer base, work on implementing systems and processes, and work towards one day being able to replace you completely out of the business, turning the business into a self-managed business. This is when you can unlock true value out of a sale. At this level, you must also ensure you are building adequate human systems and succession plans. Once you have over 11 staff/contractors, you must consider adding a layer of management below you (if you haven't already done so), helping you better manage your team and the business.How many permanent full time employees do you have, NOT including yourself?Choose one of the options listed below.012-56-1011+How many permanent part time employees do you have?Choose one of the options listed below.012-56-1011+How many casual employees do you have?Choose one of the options listed below.012-56-1011+How many contractors do you have?Choose one of the options listed below.012-56-1011+Does the business outsource any work to third parties?Please select Yes or No. Yes No What percentage (%) of the work is completed by third parties you outsource work to? A higher value indicates a higher % of work outsourced, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.answer200 – > 25%With over 25% of your work being completed by third parties, you are opening your business up to serious risks such as: • a deterioration (for any reason) of the relationship between you and the third parties • operational problems (not related to you) affecting the third parties business • the risk of the third party business approaching your clients directly • the risk of your clients approaching the third party business directly Once you reach more than 25% of work being completed by third parties, it is recommended that you regularly analyse how much time and money you spend with these third parties. It may become cheaper (and may mitigate risk) by bringing some of this work in-house. Of course this obviously comes with caveats, such as whether the third party enjoys access to specialised machinery or technology for example that you simply cannot afford or cannot access. —— TAKE ACTION —— • Discuss this situation with your accountant and/or business advisor who should be able to give you guidance on whether to stay the course, or, whether to change this ratio and how to make such changes.Do you have service level agreements in place with these third parties?Please select Yes or No. Yes No answer31_1Without an up to date Service Level Agreement (SLA) your business is at risk of service related issues. These can range from the sudden cease of service from a service provider, to inadequate consistency in delivery and poor management of quality standards. It is strongly advised that you place all key third parties on SLAs, locking in your expectations for a minimum of 12 months.answer31_2Fantastic, great to see that you have SLAs in place. Now, the question is whether the SLAs are current and up to date, or, have they been in place for a few years now without any review over this time? Ideally, SLAs should be reviewed and realigned as required each year.PoliciesWho do you have position descriptions for on your team?Choose one of the options listed below.EveryoneSome team membersNo oneanswer574_1 – everyoneThat's a great start. Now, the question remains as to whether the position descriptions are current and up to date, or have been in place for a few years now without any review over this time? Position descriptions should be reviewed and realigned as required each year. Staff at all levels require the discipline of a concise description of their roles and responsibilities. This removes uncertainty and dispute, and ensures that there can be no misunderstandings in terms of your expectations from them in their role. It also assists greatly with managing performance reviews, hiring and inducting, and building an up-to-date skills matrix for your business (e.g. Do we have all the various skills necessary to get the job done and if so, who actually has those skills). From the angle of preparing your business for sale, position descriptions help prospective buyers understand the roles and responsibilities in the business, who is doing what, and anything they need to be aware of from a people perspective.answer574_2 – no oneWithout position descriptions, your business runs the risk of staff and contractors under-performing, or performing the wrong tasks. The reasons for this are varied, but may be due to a number of possible factors including: • confusion around their role • confusion around responsibilities • not knowing what is expected of them • opportunity to avoid required tasks • incorrect delivery of work due to misalignment with roles, responsibilities and expectations From the angle of preparing your business for sale, position descriptions help prospective buyers understand the roles and responsibilities in the business, who is doing what, and anything they need to be aware of from a people perspective. Position descriptions should be reviewed and realigned as required each year. Staff at all levels require the discipline of a concise description of their roles and responsibilities. This removes uncertainty and dispute, and ensures that there can be no misunderstandings. It also assists greatly with managing performance reviews, hiring and inducting, and building an up-to-date skills matrix for your business (e.g. Do we have all the various skills necessary to get the job done and if so, who actually has those skills). —— TAKE ACTION —— • Develop position descriptions for everyone on your team, including yourself, other business partners, managers and all staff regardless of them being full time, part time, casuals or contractors.answer574_3 – some team membersGreat – you have position descriptions in place for some of the people on your team, but the question remains as to whether the position descriptions are current and up to date. It is also advised that you extend this to everyone who works for you, be they employees or contractors, so that everyone knows where they stand in terms of their role, responsibilities and expectations from them. Now, the next question is whether the position descriptions you have in place are current. Position descriptions should be reviewed and realigned as required each year. Staff at all levels require the discipline of a concise description of their roles and responsibilities. This removes uncertainty and dispute, and ensures that there can be no misunderstandings. It also assists greatly with managing performance reviews, hiring and inducting, and building an up-to-date skills matrix for your business (e.g. Do we have all the various skills necessary to get the job done and if so, who actually has those skills). From the angle of preparing your business for sale, position descriptions help prospective buyers understand the roles and responsibilities in the business, who is doing what, and anything they need to be aware of from a people perspective. —— TAKE ACTION —— • Develop position descriptions for everyone on your team, including yourself, other business partners, managers and all staff regardless of them being full time, part time, casuals or contractors.When was the last time positions descriptions were reviewed and updated?Choose one of the options listed below.1 month agoin the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don’t recallanswer210 – 2 years or I don't recallAs indicated above, position descriptions should be reviewed and realigned as required each year. If you haven't done this in the past 12 months (or in fact you have never completed a review), then this is one activity you are strongly advised to action. —— TAKE ACTION —— • Review and update all existing position descriptions for everyone on your team, including yourself, other business partners, managers and all staff regardless of them being full time, part time, casuals or contractors.Do you have HR policies and procedures in place?Please select Yes or No. Yes No answer212_1 – NoHR policies and procedures play an important role in every business, with well documented policies and procedures helping staff understand how an organisation 'works', while minimising business and legal risks. Having this in place also shows prospective buyers that you take your business seriously and that you have put careful thought and planning into the business over the years. It is not unreasonable to suggest that all businesses are 'people' businesses. That is, they rely on the performance of people for their success. HR policies and procedures establish and document your business' expectations, standards and responsibilities of the people on your team. Clear processes guide managers and employees through the practical application of policies. Well-documented policies and procedures are also evidence that your business has taken reasonable steps to minimise business risks and unlawful practice or behaviour. This in turn builds trust and inherent value within the business. —— TAKE ACTION —— • Document and implement HR policies and procedures. It is well worth the investment and effort in engaging a consultant or HR specialist business to help you develop such policies and procedures.answer212_2 – YesIt's great to see that you have got HR policies and processes in place. It is important that these are actively used in the business, and just as important that they are maintained in terms of accuracy and relevance for the business. Having this in place shows prospective buyers that you take your business seriously and that you have put careful thought and planning into the business over the years.Management and performanceHow often do you conduct 1:1 performance reviews with your staff and contractors?Choose one of the options listed below.WeeklyMonthlyBi-monthlyQuarterlyEvery six monthsOnce per yearNeveranswer35_1It's good that you are conducting performance reviews, however, it is recommended that you consider increasing the frequency. It is really important that your business regularly meets with each staff member ideally every quarter, to talk about them – both from a performance perspective and from a personal development perspective. Regular performance review meetings help build a bond between the employee and their manager, especially when the process is seen by the employee as a valuable activity that helps them grow as individuals and that helps them become better at what they do. From a business sale perspective, prospective buyers will want reassurance that upon your departure the team will not 'abandon ship' and go somewhere else. Performance reviews, regularly conducted, signals to anyone looking into the business that you have been proactive with relationships, and that staff have cared enough to take part in these. They will give reassurance that staff are prepared to be reviewed regularly from a performanmce perspective, and that such activities will not take them by surprise should the new owner wish to implement these moving forward.answer35_2It is really important that your business regularly meets with each staff member ideally every quarter, to talk about them – both from a performance perspective and from a personal development perspective. Regular performance review meetings help build a bond between the employee and their manager, especially when the process is seen by the employee as a valuable activity that helps them grow as individuals and that helps them become better at what they do. From a business sale perspective, prospective buyers will want reassurance that upon your departure the team will not 'abandon ship' and go somewhere else. Performance reviews, regularly conducted, signals to anyone looking into the business that you have been proactive with relationships, and that staff have cared enough to take part in these. They will give reassurance that staff are prepared to be reviewed regularly from a performanmce perspective, and that such activities will not take them by surprise should the new owner wish to implement these moving forward.Out of 100%, please rate how busy your staff are, if you have staff. If you are a solo operator, please rate how busy you are. A higher value indicates the more busy they/you are, and vice versa.Select a value from the list below.05101520253035404550556065707580859095100answer218 – 70% to 90%As you have indicated, your staff are currently not fully utilised. This may be a deliberate move of yours as part of an anticipated increase in growth, or, it may be that either the workload isn't there and you have too many people on the team, or that staff are not doing what they should be doing. In any case, low staff utilisation rates directly impact your business profitability, and will make it more challenging to find a buyer for the business who is prepared to pay the optimal amount for it. —— TAKE ACTION —— Consider one or more of the following suggestions: – Review all roles for all existing staff and address any workload inconsistencies (example: you may have one person at 75% and another at 95% utilisation rate) – Reduce staff numbers where possible – Maintain existing staff numbers but reduce hours – Implement a sales and marketing plan to help boost sales • If your staff are not fully utilised because you are planning for growth, then use the quiet periods to train staff, and to conduct activities such as stock taking or reviewing and creating procedures etc. • If your staff are not fully utilised because you you are trying to retain exemplary staff or those with unique skills, consider some cross training opportunities to mitigate the risk of losing such staff. In addition to the above, it is essential that you keep an eye on utilisation rates, and take action should the rates start getting lower and lower. One of the biggest costs in any business is usually it's people – and the cost associated with staff directly impact profitability and viability.answer218 – greater than 90%You've got a busy work environment, and from what you indicated your staff are well utilised. A word of caution has to be said however: there is a fine balancing act between keeping your team optimally busy, and overworking them. If you are running at 95% or more utilisation, then it is a must that you have in place plans to add more people to the team, improve your workflows and business processes or reduce the workload as people reach their capacity. Ideally every business should be continuously improving what they do, becoming more efficient and effective using the right systems and technology, which can help the business grow through improved people and asset utilisation.answer218 – less than 70%At under 70%, your staff utilisation is dangerously low. This is a critically low level that should be addressed as an immediate priority. This may be a deliberate move of yours as part of an anticipated increase in growth, or, it may be that either the workload isn't there and you have too many people on the team, or that staff are not doing what they should be doing. In any case, low staff utilisation rates directly impact your business profitability, and will make it more challenging to find a buyer for the business who is prepared to pay the optimal amount for it. —— TAKE ACTION —— Consider one or more of the following suggestions: – Review all roles for all existing staff and address any workload inconsistencies (example: you may have one person at 65% and another at 95% utilisation rate) – Reduce staff numbers where possible – Maintain existing staff numbers but reduce hours – Implement a sales and marketing plan to help boost sales • If your staff are not fully utilised because you are planning for growth, then use the quiet periods to train staff, and to conduct activities such as stock taking or reviewing and creating procedures etc. • If your staff are not fully utilised because you you are trying to retain exemplary staff or those with unique skills, consider some cross training opportunities to mitigate the risk of losing such staff. In addition to the above, it is essential that you keep an eye on utilisation rates, and take action should the rates start getting lower and lower. One of the biggest costs in any business is usually it's people – and the cost associated with staff directly impact profitability and viability.Why is this percentage so low?Choose one of the options listed below.We don't have enough workWe have anticipated staff numbers to meet an upcoming period of growthOur staff are not performing wellanswer222_1 – Not enough workNot having enough work is a very common reason for staff not being fully utilised and potentially sitting around bored, while you are paying their wages and not getting the best returns on this. Depending on the severity of the problem, you may need to reduce staff numbers, cut back the hours of existing staff or, as an example, focus on increasing the workload by increasing sales. Prospective buyers will be looking into this issue in detail, and will want to get confidence in some form that the issue is being addressed by the business or that it can be addressed by them when they take over. —— TAKE ACTION —— You will need to investigate and analyse the exact situation within your business and consider implementing the following steps: • Review all staff against their position descriptions, with a view to establishing exactly who does what, and where the low workload actually resides. Sometimes this is apparent, but even in those situations this exercise will prove beneficial, as it can help you better understand exactly what your staff requirements are, who may be surplus to your business requirement or whose hours you could reduce. • Before you adjust hours or move people out of the business, run through a forecasted revenue (sales) review exercise. It is important to understand what workload can be expected over the coming 6-12 months, so that any downward staff adjustments aren't going to cause issues in a few months time when sales pick up and you find yourself short staffed.answer222_2 – Upcoming period of growthIn some circumstances it is wise to build staff numbers before any sudden growth periods, however, this only applies if the growth actually happens and if the people your business requires are hard to find and need more than basic training to get the job done. Paying wages is a big expense for any business, so if you have more staff than what you really need right now, then be sure that the anticipated growth period actually happens within a short timeframe. Otherwise, it is best to ramp up when things start picking up, reducing the wages burden on the business in the meantime. Prospective buyers will be looking into this issue in detail, and will want to get confidence in some form that the issue is being addressed by the business or that it can be addressed by them when they take over.answer222_3 – Underperforming staffDo you have any underperforming staff?Please select Yes or No. Yes No answer231 – YesUnderperforming staff can pose significant business risks, including: • Waste of money as a result of the low return on the wages you pay them • Waste of time as a result of the amount of attention underperformers often garner from team members, supervisors and you as the business owner • Tarnishing the reputation of the business through their underperformance • Reducing team morale, impacting on the performance of other staff and making the work environment unfriendly and unattractive —— TAKE ACTION —— • It is imperative that you address under-performing staff issues as a priority. Not taking action in a timely manner that addresses the problem/s may likely lead to the business losing good performers who won't put up with such work environments. It may even result in the loss of customers/clients. • Addressing this requires that you turn to your HR policies and procedures, proactively working to understand the reasons for the under-performance and if possible putting in place steps to improve this issue.Does the business need to recruit any/more staff in the coming 6 months?Please select Yes or No. Yes No answer38_2With the business requiring extra staff over the coming months, prospective purchasers of the busines will want to see the impact the extra headcount will have on the revenue and the profit. It is important that if the business needs more staff, and you are looking to sell the business, that the prospective buyer understands the value of the extra staff and that they see the opportunity/returns such a decision will have on the business. If this is not clear enough, then you run the risk of prospective buyers devaluing the business, or even being put off by the whole deal.Is the business at threat of losing at least one staff member in the coming 6 months?Please select Yes or No. Yes No answer38_3With the possibility that the business may lose a staff member in the coming 6 months, it is important that you put in place measures to ensure that business continuity can be adequately maintained. This is less of an issue with low skilled workers, but, a huge issue if the person you expect to leave is a highly skilled worker or a manager. The best thing your business can do is to ensure it has adequate Human systems and processes in place so that any staff losses can be reduced in terms of their impact on the business, and, the duration of any staff gaps between someone leaving and a new recruit starting in that position. Anyone looking to buy your business will want continuity reassurance, and will want to know what you are doing or have done to ensure this is being or has been addressed.Does the business struggle with sourcing and selecting suitable staff, properly inducting them, recognising internal talent, identifying training requirements or exit procedures?Please select Yes or No. Yes No afb: struggle with sourcingThese issues remain at the forefront of managing small to medium businesses. Staffing costs remain the big ticket item in many businesses and avoidable staff turnover is extremely costly, very time consuming and disruptive in terms of business fluidity. There are formal processes in place that can help improve the chances of sourcing, selecting and retaining quality new staff. These days forward thinking businesses use very cost effective processes such as employee engagement programmes and behavioural science tools to increase their chances of success, selecting staff in line with the business's core values and creating staff development programmes that ensure a dedicated and committed team. —— TAKE ACTION —— • This is one of those areas where getting advice from a third-party professional makes more sense and provides more value than a simple online search or fumbling around trying different things that you are not sure about.Are you happy that your team is cohesive, interdependent, supportive of each other and functioning at the optimum level?Please select Yes or No. Yes No afb: cohesive teamAny team is subject to problems that will impact performance. These frequently include any or all of the following: • poor leadership skills • lack of adequate training • lack of commitment to role or other team members • personality differences • failure to engage the vision • poor or misaligned motivation • poor active listening skills • lack of autonomy and responsibility • square peg/round hole as defined by basic personality testing Be aware that prospective buyers looking into your business can be expected to ask questions around team cohesiveness. A negative response from you could be enough to put someone off, so, if you do have team issues then it is best to sort these out as part of your sale readiness preparations (where possible). An optimum performing team is the key to the health of your business not just in terms of financial return, but also in terms of staff satisfaction. A team that is happy, engaged and motivated will deliver great results. Remember that even one poor or uncommitted performer will de-motivate the whole team and drag down levels of performance. There are many proven exercises that can help you grow a top performing team, including knowledge, skills and attributes (KSA) interviews and individual leadership skills testing and training programs. —— TAKE ACTION —— • It is imperative that you address this issue as one of your main priorities. • Start by examining the problem in order to identify the root cause/s. • Once you know what needs to be addressed, take action. If required, engage the services of a relevant advisor in this matter.SuccessionSuccession planning is about future proofing your business. Whether you are seeking to sell the business or remove yourself from the day-to-day running of the business, or just planning long term for your retirement, succession planning is critical to your continuity of your business.Do you have a succession plan in place?Please select Yes or No. Yes No answer38_4A succession plan is a vital document outlining how your exit from the business will take place, along with the key steps that will need to be taken by the business and you in order to make this a reality. Without a succession plan you risk delaying your exit out of the business due to being ill prepared, and you also reduce the chances of the business growing into a self-managed business that does not need you for it to operate on a day to day basis. Discuss succession planning with your advisor. If you don't have someone, then it is strongly recommended that you engage one to help you with this.answer38_5Great to see that you have a succession plan in place. Make sure that it is reviewed and updated ideally once per year. If you haven't done this in the past 12 months, then it is time to do so.Is the plan being proactively implemented?Please select Yes or No. Yes No answer38_6You've got a succession plan, but you are not being proactive with this. Given that's the case, it is time to regroup with your advisor, and analyse why it is not being implemented, taking the required steps to get this plan started.Is the plan working?Please select Yes or No. Yes No answer38_7There may be one or more common reasons why the succession plan that you have developed, and which you are implementing, is not working. To really understand the reasons, it is time to regroup with your advisor, analyse why it is not working, and take the required steps to make this plan work for you.In the interests of business continuity and risk planning, is there someone on your current team who could take over your role should you decide to leave the business?Please select Yes or No. Yes No answer39_1Having someone internally who can take over your role when you leave will give the prospective buyer of the business confidence with the continuity of the business. Make sure you look after this person and that they learn as much as they can about your role, before your departure.answer39_2Having someone internally who can take over your role when you leave gives the prospective buyer of the business confidence with the continuity of the business. As yet, this person does not exist within the business. For the small business, where the prospective buyer will be hands on, this is usually ok. However, for the larger business, where the buyer may want to be hands off and is seeking a self-managed structure, not having a replacement for you will ring alarm bells and may make the sales and the transition process harder and longer. In this instance, the recommendation is to develop and implement your succession plan, which should have a component that addresses how you will be replaced from the business.DataDo you measure HR related data such as absenteeism, annual leave etc.?Please select Yes or No. Yes No answer244 – NoThe purpose of measuring HR data is to maintain visibility over your team. If you have a small business with one or two staff then you may get away with not measuring this information. However, as your business gets bigger, not measuring this information may cause unscrupulous staff to play the system. From a business sale readiness perspective, not having such information to share with incoming owners may make them uneasy about stepping into the business. It is always good practice to capture at least bare basic information such as absenteeism and annual leave taken, and having not done this before, it is recommended that you start doing so.Which data do you measure?Choose one or more of the options listed below. Absenteeism Annual leave Sick leave Complaints Others Advisory Feedbackhuman_resources_score human_resource_total_score OPERATIONSProcedures, Systems And ProcessesDo you have all of the business processes and procedures documented?Please select Yes or No. Yes No answer40_1Not having documented business processes and procedures limits the business's ability to effectively grow. Without documentation, training staff and expecting staff to correctly do their jobs becomes unnecessarily hard, often times leading to poor outcomes. In addition, lack of documentation: – makes it hard for a business to easily expand as there are no guidelines to follow when it comes to knowing how business tasks should be performed – leads to poor use of resources, which leads to a business growing ineffectively and not making as much profit as it otherwise could – makes a business less attractive from a sales perspective and makes it potentially harder and longer to sell that business All successful businesses have a common theme: they have in place very well document business processes and procedures, which are regularly reviewed and updated as these processes and procedures change. As such, it is strongly recommended that you address this major issue within your business, preferably before you place the business on the market to sell.answer40_2Fantastic, having processes and procedures documented is a strong position to be in. Make sure these are ready and available for review by prospective buyers, or for hand-over upon the successful sale of the business. Furthermore, it is recommended that you clearly communicate having these documents, in all buyer facing sales materials. This adds value to the business, and strength to the opportunity.When was the last time these were reviewed and updated?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recallanswer40_2Business process and procedures documentation should be reviewed annually and adjusted as required. If major change has occurred, then these documents need to be updated as soon as possible following such change. Rate the effectiveness of your processes and systems out of 10, with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910answer41_1You didn't give your business a very good score for the effectiveness of your processes and systems. Clearly improvements are needed, and should be tabled as a priority action item for you and your team. What next – the best way to improve processes and systems is to complete what is called a 'Business Process Review'. Such reviews help identify areas of bleed, areas of inefficiencies, helping shed light on what exactly needs to be improved. You may already have an idea of some areas that could be improved, but, unless you undertake deeper investigation through a well document Business Process Review, you will only know of the surface 'issues', which may actually not even be the real root cause issue/s. Be aware that poor processes and systems may affect the saleability of your business – it may take longer to sell, and it may reduce the value your business can command in such a sale.answer41_2Not a bad answer, you have indicated a 7/10 or 8/10 for process and systems effectiveness. There is however room to improve and do what you do even better! What next – the best way to improve processes and systems is to complete what is called a 'Business Process Review'. Such reviews help identify areas of bleed, areas of inefficiencies, helping shed light on what exactly needs to be improved. You may already have an idea of some areas that could be improved, but, unless you undertake deeper investigation through a well document Business Process Review, you will only know of the surface 'issues', which may actually not even be the real root cause issue/s.Do you use any systems, software or tools to automate parts of your business?Please select Yes or No. Yes No answer254 – NoWe live in the digital age. This means that technologies that can help your business grow more effectively and increase revenue are readily and easily available. It is important to understand that in the current century, advances in digital technology can be likened to advances in 'analogue' technology in past centuries. As an example, consider the huge gains in efficiency and reach every step of the way as we moved from quill pen through to fountain pen, then from biro through to typewriter, word processor and computer etc. Every business, if they are to remain competitive, must embrace and determine the best use of suitable technologies. The seriousness of this issue has been further highlighted by massive disruptions caused by the disastrous events we have faced over recent years, which variously included droughts, bushfires, floods and Covid-19. Apart from the critical issues of equipping your business to survive natural and unknown events beyond your control, if you fail to embrace technology your business will end up being left in the wake of your competitors who have kept pace with suitable technologies. From a sale ready preparation perspective, how you move forward will be determnined by how fast you need to sell and also where you are positioned in terms of your digital capabilities compared to your competition. You may need to seek advice from your business broker or business advisor on this matter. —— TAKE ACTION —— • Taking more notice of new technologies, of innovations that have and are forever entering our lives is the first step in progressing your business forward. • Embracing change is the second step in this process. Being willing to learn new things, to try new things, to experiement and, on occasions to fail are all part of the lifecycle of every business owner. • Use search engines and social media platforms to help you better understand new technologies, and don't hesitate to reach out to others who are already doing what you want to do.ReportingDo you review any operational reports on a regular basis?Please select Yes or No. Yes No 43_1Regularly reviewing operational reports forms an important business management and improvement activity. By not reviewing such reports you are placing yourself in the dark when it comes to intimately understanding the operational effectiveness of your business, which in turn will affect the decisions you make and the speed with which you react to opportunities and threats. It is recommended that you understand what operational reports you need to review as part of regular operational reviews, and then go about putting in place mechanisms to be able to easily generate such reports on a regular basis. From a business sales perspective, buyers may seek to review such information, so not having these may give them cause to question the business as a whole.Which operational reports?Click the + button to add more rows.Which ones?How often review this? Sales ChannelsDo you sell online via your own ecommerce store?Please select Yes or No. Yes No 44_1Given the trend in consumer and business uptake of digital commerce, most businesses could benefit from implementing a digital commerce business model into their business. Advising on such business models (where you have an offline business model and an online business model operating in unison) is out of the scope of this document, however it can be said that businesses that use blended models are better placed for future growth and taking advantage of opportunities than those that are still purely focused on running an offline business model.How long have you been selling online for?Choose one of the options listed below.Under 12 monthsUnder 2 years2 years +What % of your sales comes from your online store? A higher value indicates a higher % of sales, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.Do you sell online via a marketplace such as ebay, Facebook marketplace, Amazon, etc?Please select Yes or No. Yes No What % of your sales comes from marketplaces? A higher value indicates a higher % of sales, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.Warehousing and LogisticsDoes your business internalise warehousing, picking and packing or do you use an external provider?Choose one of the options listed below. Internalise External Partner 45_1There are pros and cons for using both an internal fulfilment model and an external model. The main advice that can be given here is to keep an eye on your warehouse/pick/pack/logistics expenses, regularly forecast your growth, and adjust your fulfilment if required, in order to meet future demand requirements. Prospective buyers may also wish to discuss your fulfilment strategy and plans, so make sure you have given thought to all of this, prior to listing the business for sale.Select the model you use.Choose one of the options listed below.Drop shipping3PLProductionDoes the business use an Enterprise Resource Planning (ERP) system?Please select Yes or No. Yes No answer272 – NoAs a manufacturing business, how you manage and coordinate production has a direct effect on your bottom line. In an industry where deadlines and margins are often tight, inadequate management of the production process is unlikely to yield optimal results and unlikely to build a business that can handle competitive pressures or remain sustainable for the long term. So, what can you do about this? Smart manufacturing businesses have recognised that the way forward is to leverage existing digital technology in order to optimise production and thereby make the business competitive and more profitable. The main technology used by manufacturing businesses is called an Enterprise Resource Planning System – or ERP for short. You have probably heard of ERP's already, however, given that your business is not using this technology, the following is important for you to understand: – An ERP system is used to manage things such as inventory levels, bill of materials lists, production lists, purchase orders from suppliers and more. – In addition to the above, ERP's can also help with work planning, resource planning, inventory forecasting, quoting, margin analysis and more. – Contrary to what some believe, ERP's are now no longer the realm of the big end of town and have become very affordable. – An ERP that is correctly setup can help the business scale effectively, and helps the business optimise it's processes such that profits are improved. – A manufacturer with a well running ERP will look more attractive to a prospective purchaser than one without any such systems in place. It is recommended that if you are not in a rush to sell, then you undertake an ERP implementation project within your business. If you do need to sell, then be aware that not having an ERP many make your business look less appealing and therefore may subject the price to more negotiation.How do you manage and coordinate production?Please provide a short explanation.How effective is the ERP system? Select a number from 1 to 10 below with 10 being the most effective and 1 being the least effective.Choose one of the options listed below.1234567891046_1_1An ineffective ERP system can be just as frustrating as not having an ERP system at all. If you feel that your ERP is not as effective as it should be, then the advice is to get the setup and how it is being used reviewed by a professional who can give you the right guidance. Paying for something that doesn't work is not an effective use of money, nor is it effective to use an ERP that is just not working as it should for you. It is recommended that if you are not in a rush to sell then you undertake an ERP review and possible update within your business. If you do need to sell, then be aware that not having a well functioning ERP many make your business look less appealing and therefore may subject the price to more negotiation.How many manufacturing locations does the business operate?Use the slider below and move the marker left/right to decrease/increase the value.Retail OperationsHow many retail stores do you operate?Use the slider below and move the marker left/right to decrease/increase the value.Are your stores connected to each other using digital technology?Please select Yes or No. Yes No 48_1Connecting your stores is sensible if you want to maximise stock turns and take advantage of extra discounts through bulk ordering from your suppliers. Stores that are connected can help each other by shuffling stock as needed, reducing or increasing amounts based on demand. Furthermore, knowing stock levels across all stores can help better predict future demand, and therefore improves your ability to purchase stock at the best price.Does your business have a centralised warehouse or storage facility from which you supply the store/s?Please select Yes or No. Yes No Is your warehouse digitally connected to your retail store/s?Choose one of the options listed below.YesNoSome Stores47_1Not connecting your warehouse with your retail store/s is a missed opportunity. Why? – If your retail store/s has visibility of your warehouse stock availability, then you are able to better manage stock levels on your store shelves. This is achieved by being able to better forecast for purchase orders from your suppliers, based on forecasting demand and what exact stock you have in store and in the warehouse. – Without the full visibility of stock between store/s and warehouse, you run the risk of ordering incorrect products, overstocking, or understocking. – If you have more than one store, and none connect to the warehouse, then the above mentioned points are significantly magnified, leading to problems that you may not even be aware of, such as overstocking, understocking and just simply not being able to effectively manage stock levels, which leads to a direct impact on the bottom line. As you may know, how you purchase is an important factor in the profitability of a retail business. This is why connecting warehouses with stores is important. By knowing what you need, and being able to factor in forecast demand for products, you are better poised to make well timed orders from your suppliers, as opposed to ad hoc, rushed orders which usually mean you don't take advantage of the best purchase rates or are slugged with extra delivery fees which eat into margins.47_2It's good that some of your stores connect to your warehouse, however, this is not an ideal scenario. All your stores need to be connected if you want the system to work optimally. Why? – If your retail store/s has visibility of your warehouse stock availability, then you are able to better manage stock levels on your store shelves. This is achieved by being able to better forecast for purchase orders from your suppliers, based on forecasting demand and what exact stock you have in store and in the warehouse. – Without the full visibility of stock between store/s and warehouse, you run the risk of ordering incorrect products, overstocking, or understocking. – If you have all stores and warehouses connected, you have complete visibility over stock, and are able to easily shuffle stock from store to store as demand and customers require it. – If you have more than one store not connect to the warehouse, then the above mentioned points are significantly magnified, leading to problems that you may not even be aware of, such as overstocking, understocking and just simply not being able to effectively manage stock levels, which leads to a direct impact on the bottom line. As you may know, how you purchase is an important factor in the profitability of a retail business. This is why connecting warehouses with stores is important. By knowing what you need, and being able to factor in forecast demand for products, you are better poised to make well timed orders from your suppliers, as opposed to ad hoc, rushed orders which usually mean you don't take advantage of the best purchase rates or are slugged with extra delivery fees which eat into margins. From an implementation point of view, if you are not needing to sell just yet, then this is an activity your business should consider moving forward with. Talk to your advisors, or, connect with relevant consultants who can assist you with this project.Advisory Feedbackoperation_score operation_score_total Sales and MarketingStrategy and PlanningDo you have a sales and marketing strategy for the business?Please select Yes or No. Yes No 50_1Without a sales and marketing strategy you run the risk of uncontrolled and unnecessary spending on sales and marketing activities that generate little to no benefit to the business. Furthermore, without such a strategy it is easy to get caught up in ad hoc 'stuff' which again generates poor returns to the business. The purpose of the sales and marketing strategy is to help you and your team understand: – Who you are to target – What ideal customers look like – What products to promote – What tactics the business will use for promotion and communication – What messages you will be communicating – What 'why' you need to communicate in order for customers to understand why they should transact with your business – Who your competition is and how they fit into the industry landscape – What challenges your business needs to overcome/address in order to best support sales and marketing activities – What opportunities the business needs to explore, and how, as part of general business strategy and also as part of the sales and marketing activities Any serious prospective buyer of the business will be asking to look at the business' sales and marketing strategy, and if you don't have one, they may struggle to see future opportunities that you know of, which in turn will affect their interest to buy the business or the amount they are willing to pay for it. A well thoughtout our strategy gives readers insight into the business, clearly highlighting how the business plans to maintain and grow their market position. As a recommendation, if you don't have a sales and marketing strategy and you are in no rush to sell or are not yet wishing to sell, then take the time and develop one. If you can, engage a consultant to help you with this process – the investment is well worth it.When was this last reviewed and updated?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recall51_1Strategy documents need to be reviewed and adjusted every year. It may now be time for such a review, based on your indication that you haven't reviewed your strategy in quite some time.Do you have a sales and marketing plan for the business?Please select Yes or No. Yes No 52_1While the sales and marketing strategy is about identifying opportunities to pursue and where to focus, amongst other things, the sales and marketing plan acts as the actual map, guiding your business along the journey towards achieving your strategic goals. Without a plan in place, as indicated by you, your business faces an ad hoc approach to sales and marketing activities, and chances are you are both wasting time and money, and missing out on opportunities as a result. Therefore, it is a strong recommendation that if you are not in a rush to sell the business, you develop an effective sales and marketing plan for your business. In the context of selling the business, having such a plan in place will prove valuable and may further strengthen the opportunity value in the mind of the prospective buyer.When was this last reviewed and updated?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recall53_1Sales and Marketing plans need to be reviewed and adjusted every month! It is now time for such a review, based on your indication that you haven't reviewed your plan in quite some time. Is the plan actually being used to drive activities and implemented as set out in the plan?Please select Yes or No. Yes No 53_2While the sales and marketing strategy is about identifying opportunities to pursue and where to focus, amongst other things, the sales and marketing plan acts as the actual map, guiding your business along the journey towards achieving your strategic goals. You have indicated that while you do actually have a sales and marketing plan for the business, you are not actually using it. In this case, the reality is that unless this is actually used, the plan may as well not exist. By not using the plan, not implementing it, your business faces an ad hoc approach to sales and marketing activities, and chances are you are both wasting time and money, and missing out on opportunities as a result. Therefore, it is a strong recommendation that if you have a plan developed, you review it, update it, and most importantly – use it by implementing it on a month to month basis.SalesDo you have a clearly articulated sales process?Please select Yes or No. Yes No 53_2The purpose of a sales process is to: – ensure sales becomes a consistent activity within your business – improve your chances of sales success by providing you and your team with a step by step process to follow – reduce the frequency of 'dropping the ball', where perhaps prospects and customers are not followed up in time or at all, or they are simply not responded to You indicated that currently you do not have a sales process in place. Particularly for businesses that may be experiencing growth challenges, developing and implementing a sales process, even a basic one, can go a long way towards helping improve sales outcomes and therefore positively impact growth.Do you have a clearly segmented customer list (including existing customers, lapsed customers and target prospects)?Please select Yes or No. Yes No 54_1Customer segmentation is the process of splitting up your customer list into various sub lists that are relevant and specific to your marketing efforts. These may be sub-lists such as segmentation by State, Suburb, previous product they purchased etc. Segmentation allows for improved sales and marketing activities while improving engagement rates and returning sales. It does this by allowing for a more personal communication with your customers, giving them content/information/deals/products that are more relevant and specific to their needs . Segmentation is particularly useful for businesses that provide any combination of a wide range of services/products with either a focused target market or a wide target market. By not segmenting your customer base, your business runs the risk of misaligning with customers by not communicating in their language, to their needs. Segmentation helps close communication barriers, and positions your business to be more aligned with the needs of the target audience. While this won't necessarily affect the ability to sell your business, it does allow you to run more effective sales and marketing activities, an important requirement for consistent growth in business. Undertaking this activity when you are preparing for sale, but not yet selling, may be a good idea as it could help boost your revenue and thus drive additional value into the business.Brand AssetsDoes the business have a website?Please select Yes or No. Yes No 55_1Not having a website for your business, regardless of what you do, could have an impact on your revenue by not giving your business adequate exposure to potential customers. People turn to the online nowadays as their primary source of information, and not being found online could impact the number of customers turning to your business. While this may not be important if you are selling your business, should you decide to hold off the sale for some time, then getting a website built is recommended.When was it last updated (this could be in the form of a blog article or facelift for example)?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recall56_1As a general rule, updating your website with fresh content at least once every 6 months is recommended. This fresh content helps visitors and search engines see that you are still active as a business. Content can be anything from a simple blog article loaded into the news page, or a full refresh with a new look. While not doing this is unlikely to affect your saleability, it does make your business look more relevant.Does your business have a style guide?Please select Yes or No. Yes No 57_1You have indicated that you don't have a style guide and you may be wondering – what is a style guide? A style guide is simply a document that tells people how your various brand assets are to be used (example: logo, font, colours etc.). This helps ensure that anyone who is designing anything for your business, or creating any advertising/promotional/marketing/sales materials for your business, follows a set out guide, helping create brand consistency in the marketplace. Customers interacting with a business that may use several variations of a logo, using different color schemes across different mediums and communicating different taglines/messages are less likely to remember that brand and are more likely to be left confused. This in turn hinders the business' ability to effectively grow, and makes them look amateur and unappealing. While not having a style guide is unlikely to affect your saleability, a business that appears inconsistent may well look less appealing from a prospective purchasers position. When was it last updated?Choose one of the options listed below.1 month agoIn the past 6 monthsIn the past 12 monthsIn the past 2 yearsI don't recall58_1The style guide should be a document that evolves with your business. As your business evolves, and brand assets change, the style guide should be updated accordingly.Does your physical premise, be it office, warehouse etc require any updating in terms of external appeal (such as new paint or logo refreshment etc.)?Please select Yes or No. Yes No On a scale from 1 to 10, with 10 being the highest score and 1 being the lowest score, how consistent is your branding across all marketing materials and communication channels (e.g. the logo is the same everywhere, colours are all the same, fonts are the same etc.)?Choose one of the options listed below.1234567891059_1Customers interacting with a business that may use several variations of a logo, using different colour schemes across different mediums and communicating different taglines/messages are less likely to remember that brand and are more likely to be left confused. This in turn hinders the business' ability to effectively grow, and makes them look amateur and unappealing. There is a chance that a business that appears inconsistent may well look less appealing from a prospective purchasers position. For the above reasons, if you are not about to sell your business, it is advised that you review your brand look and address brand inconsistencies that may exist.SpendHow much do you spend per year, in total, on Sales and Marketing activities – offline and online (not including any employee wages).Choose one of the options listed below.$0$1-$10,000$10,001 – $25,000$25,001 – $50,000$50,001 – $100,000$100,001 – $150,000$150,001 – $200,000$200,001 – $250,000$250,001 – $300,000$300,001 – $350,000$350,001 – $400,000$400,001 – $450,000$450,001 – $500,000$500,000+How much do you spend per year on online (digital) sales and marketing activities?Choose one of the options listed below.$0 – $10,000$10,001 – $25,000$25,001 – $50,000$50,001 – $100,000$100,001 – $150,000$150,001 – $200,000$200,001 – $250,000$251,001 – $300,000$300,001 – $350,000$350,001 – $400,000$400,001 – $450,000$450,001 – $500,000$500,001+How much do you spend per year on offline sales and marketing activities?Choose one of the options listed below.$0 – $10,000$10,001 – $25,000$25,001 – $50,000$50,001 – $100,000$100,001 – $150,000$150,001 – $200,000$200,001 – $250,000$251,001 – $300,000$300,001 – $350,000$350,001 – $400,000$400,001 – $450,000$450,001 – $500,000$500,001+Do you know the return on investment for every $ you spend on marketing?Please select Yes or No. Yes No What is the dollar return per dollar spent? A higher value indicates a higher return per dollar, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.Do you track and monitor sales and marketing data?Please select Yes or No. Yes No answer321 – ROI on marketingNot knowing your sales and marketing return on investment and not tracking and monitoring sales and marketing data exposes your business to the possibility of wasting money, time and human resources by focusing on the wrong sales and marketing activities. Only by knowing your numbers can you truly improve your sales and marketing results. When you know the numbers, you know where to focus and how much effort to expend. Without this knowledge you are guessing and making assumptions – both dangerous practices in business. While not having this information may not necessarily directly impact the saleability of the business, it will impact your success with sales and marketing, which usually has a direct effect on revenue and thus profitability. This in turn will affect the actual value of the business when it comes time to sell.How do you capture such data.Choose one or more of the options listed below. Google Adwords Social Media Email marketing Online surveys Phone surveys Customer/market research Other Do you know what to do with the data you capture?Please select Yes or No. Yes No 61_1Capturing data is a good start, however, if you do not know what to do with the data then you may as well not have the data! While this likely won't affect your saleability, it will impact your business in terms of your ability to get the most out of sales and marketing activities. If you are not in a rush to sell, then it is recommended that you seek help from a specialist who can help you understand your data and help you better use your data.What do you do with the data you collect?Choose one or more of the options listed below. Make strategic decision Make sales and marketing decisions Make product or service decisions Develop sales and marketing plan Nothing How happy are you with the results generated from your sales and marketing activities – rate out of 10 please, with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.1234567891062_1It is clear that your sales and marketing is ineffective. It is time to review what is being done, adjusting as required. Doing this alone however is not advised. At this stage engaging an external specialist to help you fix your sales and marketing challenges is advised, especially if you are not yet ready to sell your business.Why did you give the previous question such a low score?Please provide a short explanation.Advisory Feedbacksales_marketing_score sales_total_marketing_score CUSTOMERSCustomer Relationship ManagementIf you leave the business, what is the risk that the business will lose key customers? Please select the % that applies, with 0% indicating absolutely no chance of any customers leaving, and 100% indicating that the business will with 100% certainty lose key customers should you leave the business.Use the slider below and move the marker left/right to decrease/increase the value.answer520 – over 50%With over 50% chance that the business will lose key customers if you leave, it is evident that the business is heavily built around you and revolves around you. This will make exiting the business challenging, and thus requires addressing if you are in fact seeking to sell your business. How you address this issue depends on your situation and the way you have structured the business. Ideally, a succession plan can be developed and implemented, allowing incumbent and new recruit staff to take over what you do. Furthermore, using digital tools can help streamline workflows, thereby helping decouple customers from you, and align them with workflows which expose them to other members of your team. Whatever the solution, prospective buyers will want to see that steps have been taken to mitigate against possible loss of customers as a result of your departure.Does the business have a Customer Relationship Management (CRM) system?Please select Yes or No. Yes No 63_1A CRM system helps businesses build stronger relationships with customers, provide relevant information to customers, and better manages customer engagements (such as quote requests etc.). While some may argue that not all businesses need a CRM, truth be told, all businesses can benefit from having at least a basic CRM in place. The importance of a CRM goes beyond the above however. A well implemented CRM that is kept up to date adds value to the business, and may be the only real asset of value in the case of some businesses. As such, it is advised that you consider how your customer data is stored and collected, researching various CRM systems that are available and selecting one that is the most appropriate for your business needs.Does the business use this CRM system proactively and effectively? Please rate out of 10, with 10 being the highest score and 1 being the lowest score.Choose one of the options listed below.12345678910answer523 – 6 or underIt's great that your business has a CRM, however, by not using it proactively and effectively, as indicated by your response, your business is missing out on the true value of the CRM. It is advised that you review the CRM and how it is used and make the required changes that will improve this metric and thereby better leverages this powerful tool.Do you capture and use data on customers to make informed business decisions and for future marketing activities?Please select Yes or No. Yes No answer335 – NoData is one of the most powerful assets any business can have – with data, your business can make effective decisions that have the ability to improve you revenue, your profitability and the overall success of the business. Further to this, the business that captures and uses data is more appealing to prospective purchasers, and can potentially command a higher value as a result. Customer RelianceWhat % of your total revenue does your largest customer account for? A higher value indicates a higher % of total revenue, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.66_1Having one customer contribute such a high percentage to your revenue is a significant risk to the business. The higher their percentage of revenue, the greater the risk that: – if they are lost your business will be severely impacted – if they decide to become aggressive, they could force you to reduce prices and agree to terms that are unfavourable to you The prospective purchaser will be very cautious of a business where one customer has such an impact on the revenue, and may opt to add a 'risk factor' to their purchase negotiations, which may impact how much you can sell the business for, and even how you sell the business. If you are not in a rush to sell, then addressing this issue should become an important focal point for the business.What % of your total revenue do your top 3 customers account for? A higher value indicates a higher % of total revenue, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.67_1While you have spread the risk of negative revenue impacts across 3 customers, having a high reliance on only 3 customers is still a dangerous position to be in. The prospective purchaser will be very cautious of a business where a small handful of customers have such an impact on the revenue, and may opt to add a 'risk factor' to their purchase negotiations, which may impact how much you can sell the business for, and even how you sell the business. If you are not in a rush to sell, then addressing this issue should become an important focal point for the business.Approximately how many active customers do you have (these are customers who purchased from you in the last 12 month period)?Use the slider below and move the marker left/right to decrease/increase the number.Do you have customers on service or supply contracts that lock in their business with you?Please select Yes or No. Yes No 68_1Service and/or supply contracts are a great way to secure future revenue, helping better forecast demand levels and make growth and investment decisions. While not possible in all businesses, it is advised that you review your customer base and look at whether there may be any opportunities to place customers on service/supply contracts. From a prospective purchase point of view, having these in place boosts confidence, and may even affect the value they are willing to place on your business.What % of your customers are on service or supply contracts? A higher value indicates a higher % of customers on service/supply contracts, and vice versa.Use the slider below and move the marker left/right to decrease/increase the value.Customer ServiceDo you have a dedicated customer service person or customer service team?Please select Yes or No. Yes No 68_11The purpose of a customer service team, or even a solo customer service representative, is to act as a point of help for your customers, addressing issues or questions they may have. While you don't necessarily need to (or can afford to) have a customer service team in your business, it is essential that you have at least one person on the team who can be appointed as the 'customer service champion' – the person customers turn to for assistance when this need arises. It is certainly advised that you appoint someone into such a position, or give them this role as an extra 'hat' they need to wear.Has this person/team been trained in how to interact with customers or resolve customer issues?Please select Yes or No. Yes No 68_12It's good that your business has at least one customer service person. However, as indicated by you, they have not actually had training on customer interaction and handling issues, which may be making them less effective in this role than they could be. A suggestion here is to add such training to the training plan for the relevant personnel – especially if you are not yet planning to sell the business.Do you have customer service procedures in place? E.g. handle customer complaints, late payment problems, etc.Please select Yes or No. Yes No answer347 – noConsistency is critical in building a successful business. Consistency across all areas of the business, including the way customer service is handled. Without customer service procedures, it is easy for the way you as an owner would want issues and questions handled to be misunderstood and not adhered to. It is such inconsistency that causes frictions internally and externally, potentially ruining customer relationships and impacting the business success. —— TAKE ACTION —— • Develop a script in line with your customer service policies, that staff can follow when dealing with complaints and late payments etc.Advisory Feedbackcustomer_score customer_total_score TECHNOLOGYTechnology StackProvide a list of technologies your business uses – example: gmail; accounting platform; crm type etc.Click the + button to add more rows. Has the business ever gone through a Business Process Remodelling or Re-Engineering exercise?Choose one of the options listed below. Yes No I have no idea what that is 68_2There is a risk to every business that exists as a result of doing things the same way, year in, year out. With change being the norm, staying static in business results in businesses becoming ineffective, complacent and eventually fading away. Business Process Remodelling (others call this re-engineering)(BPR), is about understanding what you are doing within the business, and seeing whether what is being done needs to actually be done, or, could be done better. BPR is a powerful change tool, which, when done the right way can set the business on a new path, improving profitability, helping propel growth and giving the business greater inherent value as a result. As you are in a business that has not done this before, it is recommended that you speak with someone who can help you undertake such a process. This is a worthwhile exercise if you are not yet selling the business. Does your technology sync with each other and help drive business processes?Please select Yes or No. Yes No answer353 – noThe power of technology can only truly be utilised if your technology connects with other technology in your business and/or external to the business. This connection can enable things to happen, automatically, reducing manual touch points. It can improve customer experiences, staff experiences and can make your business more profitable, and therefore more valuable when the time comes to sell. It can be difficult to understand which technologies to connect, and how to get them synced for the optimum result. We recommend you start by undertaking Business Process Remodelling (BPR). If you have time up your sleeve, explore BPR and how you could improve your technology use within the business. Doing so may provide the necessary leverage to grow the business and therefore make it more valuable.Support StructureDo you have access to technology support service providers, such as an IT team?Please select Yes or No. Yes No Compared to the industryIn terms of technology, rate your business out of 10 compared to your competitors, with 10 being the highest score and 1 being the lowest score.Use the slider below and move the marker left/right to decrease/increase the value.answer357 – 8 or underIn todays competitive landscape, using the right technology, be it hardware (such as machinery) or software (such as an ERP system), can make the difference between being the leader or being the one left behind, struggling to make ends meet. Technology is an enabler, and must be considered by every business that is serious about growth and competitiveness. If you are not in a rush to sell, then undertaking Business Process Remodelling and evolving the technology within your business will help you expand and become more valuable.Advisory Feedbacktechnology_score technology_total_score FUTURE PROOFINGFuture ModelDo you understand the term 'Future Modelling' for your business and the basic process behind it?Please select Yes or No. Yes No answer834_1 – YesIf you understand the process but have never done the exercise, we recommend you take the time to do so. This is particularly important if you are at least 18-months away from listing your business for sale. As an example, let us assume that you are the producer of value added grain products (cereals). You are aware that the market for your existing products is expanding and has significant longevity and that you have the expertise to bring new products into the already expanding market. Let us assume that you currently have a manufacturing facility running two shifts and that immediately you can increase production by 33% by simply adding an extra shift. Beyond that you might seek to increase your manufacturing capacity with a view to doubling the size of the business in the next five years. So let us look at the fundamentals and see what the business would look like in five years time and ask ourselves the very first question – will doubling turnover and sales also double revenue and profit? The quick answer is rarely. A more accurate response can be obtained by asking questions like those in the example below to give you a more accurate picture of what the business may look like at double the turnover: – Is your current site large enough to house the expanded production facility, or would you have to relocate? – Is your current site large enough to manage the basic logistics? e.g. a doubling of truck movements in and out of the site (receipt of raw materials & dispatch of finished product). – If additional space is required consider the costs of purchase, leasing and improvements required. – Will your local council requirements and zoning allow for increased movements, any additional emissions and additional waste product disposal? – Will there be additional local state or federal fees involved? – Is the additional energy available and affordable? – Can you guarantee that there will be a supply of raw materials as required? – Can you manage procurement and storage of all raw materials and consumables? – Can you secure the increased production output with supply contracts? – How many additional staff will be required on the production floor, in administration and in sales and marketing with the final level of production and sales required? – Will funding be required for expansion and what will the servicing costs be? – What will be the cost of disruption to production during any rebuilding or even relocating phase? – How do you cost and manage downtime and planned maintenance etc.? – Will your existing wholesalers and reseller be able to manage double the quantities? – Will there be additional sales and marketing costs? – Are the existing staff amenities suitable or will they also require expansion? – Have you factored in cost of acquiring new staff and wages etc.? … and so on and on. As you can see, once you start working through this exercise, the list can become quite exhaustive. As a starting point, consider all of the questions that are relevant to your particular business and then using best estimates, apply the additional costs required to achieve the increased turnover and then measure these against projected cashflow incomes. Now, not only will you have a better understanding of floorspace, production, supply chain, staffing and logistical requirements (for example), you will also have approximate cost estimates that allow you to make more informed decisions, and map out a basic but better informed future model with approximate costings and timelines included. Undertaking a future modelling exercise generally provides a more realistic pathway to growth and highlights interim steps and processes that are required to achieve success. If you require assistance with future modelling please contact a suitable business advisor.answer834_2 – NoOften, when all the planets align in business, it is quite common to hear business owners talking about opportunities for exponential growth. It is important to be aware that any additional growth generally comes with additional expenditure and major disruption to production and supply chain during the expansion process. Future modelling is simply a way to understand what the business would look like in the future if it was to achieve the growth results you might now desire. As an example, let us assume that you are the producer of value added grain products (cereals). You are aware that the market for your existing products is expanding and has significant longevity and that you have the expertise to bring new products into the already expanding market. Let us assume that you currently have a manufacturing facility running two shifts and that immediately you can increase production by 33% by simply adding an extra shift. Beyond that you might seek to increase your manufacturing capacity with a view to doubling the size of the business in the next five years. So let us look at the fundamentals and see what the business would look like in five years time and ask ourselves the very first question – will doubling turnover and sales also double revenue and profit? The quick answer is rarely. A more accurate response can be obtained by asking questions like those in the example below to give you a more accurate picture of what the business may look like at double the turnover: – Is your current site large enough to house the expanded production facility, or would you have to relocate? – Is your current site large enough to manage the basic logistics? e.g. a doubling of truck movements in and out of the site (receipt of raw materials & dispatch of finished product). – If additional space is required consider the costs of purchase, leasing and improvements required. – Will your local council requirements and zoning allow for increased movements, any additional emissions and additional waste product disposal? – Will there be additional local state or federal fees involved? – Is the additional energy available and affordable? – Can you guarantee that there will be a supply of raw materials as required? – Can you manage procurement and storage of all raw materials and consumables? – Can you secure the increased production output with supply contracts? – How many additional staff will be required on the production floor, in administration and in sales and marketing with the final level of production and sales required? – Will funding be required for expansion and what will the servicing costs be? – What will be the cost of disruption to production during any rebuilding or even relocating phase? – How do you cost and manage downtime and planned maintenance etc.? – Will your existing wholesalers and reseller be able to manage double the quantities? – Will there be additional sales and marketing costs? – Are the existing staff amenities suitable or will they also require expansion? – Have you factored in cost of acquiring new staff and wages etc.? … and so on and on. As you can see, once you start working through this exercise, the list can become quite exhaustive. As a starting point, consider all of the questions that are relevant to your particular business and then using best estimates, apply the additional costs required to achieve the increased turnover and then measure these against projected cashflow incomes. Now, not only will you have a better understanding of floorspace, production, supply chain, staffing and logistical requirements (for example), you will also have approximate cost estimates that allow you to make more informed decisions, and map out a basic but better informed future model with approximate costings and timelines included. Undertaking a future modelling exercise generally provides a more realistic pathway to growth and highlights interim steps and processes that are required to achieve success. If you require assistance with future modelling please contact a suitable business advisor.Advisory Feedbackfuture_proof_score future_proof_total_score LEGAL & LICENSINGLicencingDoes your business require any licences in order to operate (e.g. licence to serve alcohol, forklift ticket, real estate agency licence etc.)?Please select Yes or No. Yes No Please list the required licences.Click the + button to add more rows. Are your licences up to date?Please select Yes or No. Yes No afb: licenses up to dateFailing to be correctly licensed or fully compliant with regulations has serious consequences that can reach beyond government fines, and can impact the validity of your insurances and indemnity covers, while exposing you to liability.LegalIs your business currently facing any legal actions?Please select Yes or No. Yes No legal answersSelling a business that is facing legal action will prove very difficult. It is best to finalise legal actions and then move on with the sale if that is still a desired action.Are there any regulations that your business must comply with?Please select Yes or No. Yes No Please advise.Click the + button to add more rows. Advisory Feedbacklegal_score legal_total_score REAL ESTATEPremisesPlease select your premise type from the following list.Choose from the options listed below. Home office Office only Office with onsite warehouse/manufacturing facility Retail outlet Cafe/Restaurant/Bar Farm/Agricultural property Warehouse Manufacturing facility Other premise type such as childcare centre How many locations does your business operate out of?Choose one of the options listed below.12345678910111213141516171819202122232425262728293030+Does the business own any properties?Please select Yes or No. Yes No How many properties do you own?Use the slider below and move the marker left/right to decrease/increase the value.How long does the mortgage have left on it? Please list for each owned property.Click the + button to add more rows.Property addressLength of mortgage left Does the business lease any properties?Please select Yes or No. Yes No How many properties do you lease?Use the slider below and move the marker left/right to decrease/increase the value.How long does the lease have left on it? Please list for each leased property.Click the + button to add more rows.Property addressLength of lease left Do any of the properties (owned or leased) require any form of upgrade in the next 12 months (e.g. New wall paint in the boardroom or fix a leaking roof)?Please select Yes or No. Yes No Advisory Feedback The following questions are modelled off Porter’s Five Forces – a tool that is used to understand the competitiveness of your business environment, and to help develop a profitable strategy. Created by Harvard Business School professor Michael Porter, the tool helps understand the forces in the environment or industry that can affect profitability; this in turn is used to drive strategic discussions and decisions. These five forces that Porter identified are: Competitive rivalry How many competitors do you have? Who are they, and how does the quality of their products and services compare with yours? What is their growth strategy? Example – in very competitive environments rivals attract customers using strategies such as price cutting, aggressive marketing etc. Supplier power Here we aim to understand the threats from your suppliers. How many potential suppliers do you have? Are you limited or is there plenty of choice? How unique is the product or service they provide? How expensive would it be to switch from one supplier to another? The more suppliers to choose from, the easier to switch to a cheaper alternative. But, the fewer suppliers, the more you need their help, and thus the stronger their position and their ability to charge you more. Buyer power Here we aim to understand the threats from our buyers. How easy it is for buyers to drive your prices down, through tactics such as price shopping or aggressive negotiation practices? How many buyers are there, and how big are their orders? How much would it cost them to switch from your products and services to those of one of your competitors? Are your buyers strong enough to dictate terms to you? When you deal with only a few customers, they generally have more power over you, however, your power increases if you have many customers and if you can provide a service/product that few others can provide. Threat of substitution Can your customers find a different way of doing what you do. For example, if you supply a unique software product that automates an important process, people may substitute it by doing the process manually or by outsourcing it. A substitution that is easy and cheap to make can weaken your position and threaten your profitability. Threat of new entry Your business is affected by others ability to enter your market. So, think about how easily this could be done. How easy is it to get into your industry or market? How much would it cost, how tightly is your industry regulated? If it takes little money and effort to enter your market and compete effectively, or if you have little protection for your key technologies, then competitors can quickly enter your market and weaken your position. If you have strong barriers to entry, then you are better able to preserve your position and take advantage of it.Direct CompetitorsWhat do you believe is the single strong (sustainable) advantage that you have over your competitors?Please provide a short explanation.answer379 – Competitive AdvantageBasically, there are three key types of sustainable competitive advantage: 1. Cost advantage (the business competes on price). 2. Value advantage (the business provides products or services perceived to be of superior value to competitors). 3. Focus advantage (the business focuses on a specific market niche, with products or services designed specifically for that segment of the market). You have nominated your Sustainable Competitive Advantage as: %%field_379%% [please include their answer here] Your business may not be sustainable unless it's supported by one of the three of advantages listed above. Most small to medium businesses don't have the market share and buying power to effectively compete on price and are not big enough to satisfy wider demand in a market. Therefore, to successfully compete, small businesses often need to develop a sustainable competitive advantage that is based on providing superior value to a specific niche. Another option is to take advantage of being a 'first mover', where the first entrant in a new market obtains an advantage over other competitors that enter the market later. Using your sustainable competitive advantage in your sales and marketing makes it easier for your customers to understand why they should deal with you rather than your competitors, and this makes it easier for your staff to sell your products or services and know their promises will be delivered. Your sustainable competitive advantage can also guide your decision-making process and provide you with focus. As an example, if a new opportunity presents itself, but it doesn't support your sustainable competitive advantage, then you should question whether to pursue that opportunity. In other words, you need to ask yourself whether short-term growth that could negatively affect your sustainable competitive advantage is more important than building a long-term position of strength and stability? —— TAKE ACTION —— There are five steps to developing a sustainable competitive advantage. 1st step: Understand the market and its segments. Look for niches that aren't well serviced by your competitors and that you can profitably target. Look for areas where your competitors are weak, for example, they may be lacking in customer service, or may lack a digital footprint. 2nd step: Develop an understanding of what customers really want and establish a value proposition that grabs their attention and solves their problem. 3rd step: Understand the things that you need to do really well to support and deliver your value proposition. If you say you are better at 'xyz' than your competitors then you need to ensure that you are actually better. 4th step: Understand what your strengths and core competencies are and how you can use these in innovative ways to provide value to your chosen market. 5th step: Design your business model to support and deliver the value proposition, and then align your marketing strategy with your sustainable competitive advantage.List your four main direct competitors and qualify them using this section.Click the + button to add more rows.Competitor nameSize (bigger, smaller, same)Prices (more expensive, less expensive, same)Quality (Better, worse, same)Strengths (e.g. part of buying group, good sales team, great reputation, very active marketing, well established etc.)Weaknesses (e.g. poor reputation, poor range, no sales team, fail to adapt to market etc.) Automated Advice: Porter's Five ForcesThe following questions are modelled off Porter's Five Forces – a tool that is used to understand the competitiveness of your business environment, and to help develop a profitable strategy. Created by Harvard Business School professor Michael Porter, the tool helps understand the forces in the environment or industry that can affect profitability; this in turn is used to drive strategic discussions and decisions. These five forces that Porter identified are: Competitive rivalry How many competitors do you have? Who are they, and how does the quality of their products and services compare with yours? What is their growth strategy? Example – in very competitive environments rivals attract customers using strategies such as price cutting, aggressive marketing etc. Supplier power Here we aim to understand the threats from your suppliers. How many potential suppliers do you have? Are you limited or is there plenty of choice? How unique is the product or service they provide? How expensive would it be to switch from one supplier to another? The more suppliers to choose from, the easier to switch to a cheaper alternative. But, the fewer suppliers, the more you need their help, and thus the stronger their position and their ability to charge you more. Buyer power Here we aim to understand the threats from our buyers. How easy it is for buyers to drive your prices down, through tactics such as price shopping or aggressive negotiation practices? How many buyers are there, and how big are their orders? How much would it cost them to switch from your products and services to those of one of your competitors? Are your buyers strong enough to dictate terms to you? When you deal with only a few customers, they generally have more power over you, however, your power increases if you have many customers and if you can provide a service/product that few others can provide. Threat of substitution Can your customers find a different way of doing what you do. For example, if you supply a unique software product that automates an important process, people may substitute it by doing the process manually or by outsourcing it. A substitution that is easy and cheap to make can weaken your position and threaten your profitability. Threat of new entry Your business is affected by others ability to enter your market. So, think about how easily this could be done. How easy is it to get into your industry or market? How much would it cost, how tightly is your industry regulated? If it takes little money and effort to enter your market and compete effectively, or if you have little protection for your key technologies, then competitors can quickly enter your market and weaken your position. If you have strong barriers to entry, then you are better able to preserve your position and take advantage of it.New ThreatsWhat new threats could impact your business?Click the + button to load more rows. Substitute ProductsWhat other products/services could your customers use instead of the ones you sell/provide?Click the + button to load more rows. SuppliersWhat threats do your suppliers pose to the business?Click the + button to load more rows. BuyersWhat threats do your buyers pose to the business?Click the + button to load more rows. Advisory Feedback INDUSTRY OUTLOOKChallengesList the challenges you see within the industry over the coming two years.Click the + button to load more rows. OpportunitiesList the opportunities you see within the industry over the coming two years.Click the + button to load more rows. Advisory Feedback SWOTA SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is an incredibly simple, yet powerful tool to help understand your business better, guiding the development of business strategies. Strengths and weaknesses are internal to your company—things that you have some control over and can change. These may include things like any IP you have, your team, where you are based etc. Opportunities and threats are external things that are going on outside your business. You can take advantage of opportunities and protect against threats, but you cannot change them. Examples include competitors, cost of goods, consumer trends etc. SWOT can help you identify your strengths that can be used to take advantage of your opportunities. Your strengths can also be used to combat the threats identified. On the other hand, understanding external opportunities might help you combat your own internal weaknesses. Furthermore, understanding your weaknesses can help you avoid the threats that you identified. The tool is very beneficial when used the right way!StrengthsList the strengths within your business.Click the + button to load more rows. OpportunitiesList the opportunities available to your business.Click the + button to load more rows. WeaknessesList the weaknesses within your business.Click the + button to load more rows. ThreatsList the threats within your business.Click the + button to load more rows. answer_SWOTA SWOT (Strengths, Weaknesses, Opportunities & Threats) analysis is a high-level strategic planning model that will help you identify where you're doing well and where you can improve, both from an internal and external perspective. The following is provided as a guide to assist you, but please consider your responses carefully. Strengths = what are we good at or where do we have an advantage? Innovation, customer relationships, location, well funded, top sales team, market leader, price competitive, best location, quality products, ability to react quickly to market changes etc. Weaknesses = what are we not good at or where are we at a disadvantage? Poor quality product and or range, not price competitive, struggle with attracting good staff, no marketing, poor response times, too reliant on small customer base etc. Opportunities = where do we see opportunities for the business? New products, new geographical territory, ready ability to scale up production, adopt technology and streamline processes and supply chain activities. Threats = what do we see as being potentially harmful to our business? Losing large customer, losing key staff, changes to government regulations, new low priced competitor entering your space etc.Advisory FeedbackIs there anything else you'd like to share with your advisor?Detail any other information, areas of focus, concerns, etc. that you’d like to share with your advisor.Advisory FeedbackThat’s it – you are done! The next step is to submit this form to your advisor who will review your answers and add in any required feedback. They will then give you access to the final report in pdf format. Please hit the ‘Finish’ button below if you are ready for this to go to your advisor.Please click the Review Form button to continue to the next step.You will be given the opportunity to review the form in full including all automated responses. You will then be able to click the Submit button to generate the report.If you wish to edit any inputs after previewing the form, you can navigate to the corresponding page and make edits.