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Selling your business in a downturn

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Those of you who live by satnav might smile at the heading. It’s one of the great lines the device keeps saying (perhaps followed by “turn round whenever possible”). And it is on that subject, negotiating your exit from your business, that this article is based. It comes by general request so it seems that, in these challenging times, business owne...

Submitted by Dennis Lennie

Published 01 November 2009

Keep your friends close and your enemies closer

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This month, and largely because I am on holiday at the moment and haven’t looked at an English paper or seen a television – and as the Internet is currently not working (which makes posting this article on time an interesting task) – I thought it would be useful to look at elements of business strategy that will help you work out how to focus your...

Submitted by Dennis Lennie

Published 01 October 2009

Diversify - the key to success

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Most business could survive the recession if they adapt what they do, or how they do it, explains Peter SavageIn the current economic climate, with the market shrinking, every business has to look at ways of growing or developing – if they are to survive. And sometimes you have to think outside the box. There is, as they say, only so much blood you...

Submitted by Dennis Lennie

Published 01 September 2009

What to do about staff in a recession 2009

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In the second of a four part series, Peter Savage looks at the staffing minefield you encounter as you consider cutting staff costs to survive the recessionLast day of the calendar month and, yes, another batch of companies goes bust. The recession is biting, and probably harder than any I can remember. I shan’t get on my high horse again – about p...

Submitted by Dennis Lennie

Published 01 May 2009

Good cop, bad cop

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Peter Savage looks at the tricky subject of asking customers to honour their commitments and, possibly, debts – without ruining your customer-supplier relationship or losing what you are owed. How do you keep your customer sweet whilst making sure they pay?This is a question that I have been asked numerous times over the last few months, as draggin...

Submitted by Dennis Lennie

Published 01 February 2009

The morality of meltdown

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Apologies for breaking away from my usual broadcast-orientated comments but, when looking at the micro of our own world, sometimes big macro economic tsunamis crash in – and can have hugely damaging effects on our own small, flat, micro economic island. I’m writing this over the weekend when the US Congress is deciding whether it should bail out th...

Submitted by Dennis Lennie

Published 01 January 2009

Why should people take holidays

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As I sit here on holiday taking a well-earned rest in August – the month when most people in our industry feel they are captain of the good ship Mary Celeste – it is good to reflect on why people should take holidays and how and why they are good for your business as a whole. Re-charge and re-tuneThe first and most notable reason is that they do re...

Submitted by Dennis Lennie

Published 01 December 2008

When trouble looms phoenix your company

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So, the US Federal Reserve (broadly equivalent to the Bank of England – it influences the availability and cost of money and credit in the US economy) is about to bail out Fanny Mae and Freddie Mac, the two largest US mortgage providers. This comes on the back of the Bank of England helping, in no small way, Northern Rock. One rule for them, anothe...

Submitted by Dennis Lennie

Published 01 November 2008

Selling your business Part 3. Gearing up for sale

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In the final article in his series about preparing your business for sale, Peter Savage outlines the strategy that leads to success even in a slowing economy. Last month we were left with a conundrum: how do you sell a business when the company clearly has a value but the market, and consequently the performance of the business, is in reverse? This...

Submitted by Dennis Lennie

Published 01 September 2008

Selling your business part 2 of 3

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VALUES AFFECTED BY FACTS OR ASSUMPTIONSIn the second of his series of three articles about preparing your business for sale, Peter Savage explains the ins and outs of valuing businesses. Last month we looked into some basic calculations that are used to value companies. This month I will try to put some of those principles into practice. I will loo...

Submitted by Dennis Lennie

Published 01 August 2008

Lender of the last resort or good use of your assets

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Recently several people have asked me why companies use factoring or invoice discounting as a way of dealing with debtors. “Are they in trouble?” and “Is it the last straw before throwing in the towel?” were the most common questions. So I thought I would talk you through these types of sales finance, dispelling a few myths by explaining when they...

Submitted by Dennis Lennie

Published 01 June 2008

Setting up in business: Le Christmas Crunch

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Well, I just fancied having a break as we have been slogging away for almost six months – planning, starting, measuring and then employing. So, phew, it’s the Christmas break. Well haven’t we done well to get here? You certainly have. And now for a little topical help: the credit crunch that is currently the focus of so many media reports. What doe...

Submitted by Dennis Lennie

Published 01 May 2008

Setting up in business: Taking on staff

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Peter Savage continues his series, based on 19 years’ experience, guiding you through the stages and decisions that come with establishing your own business. So far we have looked at getting going, those anxious first days and being pro-active about building your business. Hopefully, in your fledgling company, and through your hard work and plannin...

Submitted by Dennis Lennie

Published 01 March 2008