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Regulatory and compliance

Businesses could face $100,000 penalties for excessive credit card surcharges

The competition watchdog has been given stronger powers to crack down on excessive credit card...read more

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Questions

What pitfalls or issues did you look for if you bought your company?

Speaking to the owners out there, did you buy your business? If so what were some of the primary... read more

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Yee Trinh Co-founder at SavvySME
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Questions

What is the use of bearings?

hey friends can you please tell me the actual use of thrust bearings for different-different... read more

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Buying and selling businesses

Top Ways to Increase the Value of Your Business and Make it More Attractive to Buyers

When selling your business you will want to get the best possible price. You have put blood, sweat... read more

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Buying and selling businesses

How to Find a Bargain When Buying a Business

When buying property they say buy the worse house on the best street. When purchasing a business... read more

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Lina BarfootEditor at SavvySME
Very interesting, great article!
Litigation and dispute resolution

The Real Deal with mediation, Part 1: What is it? Who Goes?

You deal with varying levels of conflict in your daily life. Whether it’s a work, at home, at... read more

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Litigation and dispute resolution

The Real Deal with Mediation Part 2: Where and When to Mediate

In part 1 of this 2-part guide you learned what mediation is and who attends. You found out what to... read more

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Lina BarfootEditor at SavvySME
Great article! or articles rather, I very much recommend reading the first part of these 2 articles as well. It's so useful for business owners and managers (and pretty much everyone) to have some idea of where to turn if a dispute or conflict becomes unmanageable.
Buying and selling businesses

Business Exits: How Earn Outs Work in Detail - Part One

Investment banks and corporate advisors use earn outs as a way of bridging the gap between what you... read more

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Buying and selling businesses

Selling Your Business: How to Get Agreement on Price Using an Earn Out

Forbes Magazine said recently that the number one reason businesses fail to sell is because the... read more

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Buying and selling businesses

Business Exits: How Earn Outs Work in Detail - Part Two

This is the second part of the article I've written before. You can read the first part of the... read more

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Buying and selling businesses

Roll Ups as an M&A Technique to Rapidly Create Value in Your Business

When your company is looking for growth, a roll up might be the answer. A "roll up" or... read more

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Business structure

What to Consider When Deciding on a Business Structure - a Company or Sole Trader?

Your business structure is the first and maybe most important decision you need to make when... read more

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Regulatory and compliance

What Should You Include in Your Social Media Policy?

No matter if your business is on social media or not, your employees and partners most probably... read more

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Competition, consumer and trade practices

Do You Have to Purchase that Extended Warranty Under Australian Consumer Law?

A new investigation by CHOICE reported that 85% of Australian electronic stores do not adhere to... read more

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Buying and selling businesses

How to Avoid Being “Pushy” in Sales

Open more conversations with respect The other day one of the General Managers of a company I’ve... read more

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Jef LippiattOwner at Startup Chucktown
I totally agree with the respect angle (especially as a potential client as no previous relationship has been established). Also, I would bring up the mantra, "The User Is Not Like Me". This could be modified as, "A Client Is Not Me". You could also look through the lens of potential client. If you were a client, would this entice you to take action or would you be annoyed? From this self evaluation you can learn quite a lot.
Hitesh MohanlalDirector at WOW! Advisors & Business Accountants
Great article Jenny. Sometimes we write things without really realising the effects it has those we are trying to work with.
Buying and selling businesses

How to Sell a Business

"Start with the end in mind."  That’s the key to selling your business for its maximum... read more

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Brent Szalay Owner at SEIVA
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Brent SzalayOwner at SEIVA
Thanks for your comments Jeff. I agree to maximize the value everything must be documented. This should be a practice that every business should undertake whether they are looking to sell the business in the short to medium term or not.
Jeff GordonPrincipal at Prestige SME Business Solutions
One major mistake business owners make is not documenting everything such as Processes, Procedures, Job Descriptions. If management keep most of the IP in their brains and not documented it will make it more difficult to sell a business and get a higher price!
Questions

What would you like me to write about for SavvySME?

Next week I will be putting together my writing strategy for March and April, so I am wondering,... read more

Jef LippiattOwner at Startup Chucktown
I know that it is important to have clearly written contracts and agreements, but when disagreements arise would it be wise to have them drawn up and signed as an audit trail to limit the same problem from resurfacing at a later time? If that is the case, would it be wise to have a third-party or notary sign-off on the disagreement document as well? I think knowing more about that would be helpful (at least for myself).
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Litigation and dispute resolution

Why I Do What I Do

When I am at networking events or social occasions I am often asked, after ten years as a... read more

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Phil KhorFounder at SavvySME
What an inspirational story! I can see how important it is for clients to be able to express themselves (and feel that they were heard) can really help them cope with resentment. Brilliant! Thanks for sharing Rebecca.
Buying and selling businesses

How to Buy an Existing Business: A Comprehensive Guide

Many people dream about owning their own business. However, few convert that dream into a reality.... read more

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Questions

Will this approach be considered SPAM?

A client wants to send an EDM (split according to location) to several thousand public servants... read more

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Hi Steve,Further to my comments above, an article came upon Flying Solo that may assist: Sending emails: are you breaking the law? Cheers,Bec CB
Jef LippiattOwner at Startup Chucktown
I'm not a lawyer, but I would err on the side of caution. If the users did not explicitly sign up for receiving updates, newsletters or promotions it potentially could be seen as spam. It may not be seen as SPAM holistically by every person that receives the message (some may find it useful), but if enough people are unhappy about it watch out.I will say that is not always the case, but specifically if the goal is to sell something you may have less leverage. I have received several emails over the last 2 years that were things I did not sign up for, however, my email address was pulled from a public resource (Github) but the message was about conducting research for higher education purposes by students and/or faculty. I suppose I could have seen that email as SPAM, but the email was polite and transparent about several things.WHERE - they mentioned where they found my email addressWHY - they made it clear that participation was optional but helpful (for a survey)HOW - they let me know how the information I entered in the survey would be usedWHEN - they let me know that when all the surveys were complete the results would be shared with meKeep in mind one other thing, they also personalized the email that I received. It did not appear to have been a message that was sent to multiple (or hundreds) of people. My name was specifically used in the email. It is possible it was done through an email marketing provider (such as MailChimp) however, I saw no indication of 3rd party branding on the message.I would still say if you proceed, do so with caution. Perhaps if you are dead set on going down the path you mentioned, try sending the communication to only a handful of people first (such as 10 to 30 people). See what types of responses you are getting back (if any) or if it improves click through rate or sales.I would say you should still seek advice from an attorney before moving forward.
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