Last updateTue, 19 Mar 2019 7pm

David Brown

Is your business ready to sell?

Chances are, at some stage in the future you are going to look to sell your business. Even if it is being passed down to family members there are a few steps you need to put in place to make the transition as smooth as possible and provide the maximum value for those taking over. Even if exiting your business is something you don’t see happening for several years, it’s important to put the steps in place now. Grooming a business for sale can take time, and you should always be ready should circumstances require action on short notice.

Your key business partners

If you’re a sole trader or a family operated business you may be wondering who I am talking about in the title. After all, you’re the only owner right? That may be true from a legal point of view, but as is commonly referred to today, your business has not only shareholders, but stakeholders – others with a vested interest in whether you succeed or not.

Building on Bridal

With a slowing in silver and the market in diamonds having renewed interest, it’s a good time for any jeweler to revisit their bridal business. Many will probably feel this has all but gone underground in the last 2 years, and whether anyone is even getting married! There is a market out there however and many of our clients are benefitting from an improving average sale in this area as consumer confidence returns.

Are you fitting a square peg in a round hole?

If there are two areas of retailing that retailers say cause them the greatest amount of frustration – they would be inventory and staff. Aged inventory at least affords you the luxury of being able to ignore it – even if it doesn’t go away! Staffing issues however can be a far greater burden on a managers time.

Staffing – How to not put a square peg into a round hole

Staff, along with inventory, represents one of the largest headaches of running any retail business. It seems to be that you’re forever trying to get staff to perform, stop arguing, start working, or even just to turn up! Show me a store owner without any staff issues and I’ll show you a store owner without staff!

What’s discount really costing you?

All business owners need to maximize their time by concentrating on those things that give the greatest Return on Investment (ROI) for the time involved. This would seem logical, however frequently we will see a store owner focusing on minor issues, such as staff taking too long for lunch while ignoring the hundreds of dollars of discounts that are being given away each day.