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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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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 LippiattCo-founder 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!
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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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

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Jef LippiattCo-founder 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 LippiattCo-founder 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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Questions

Are HR Issues always tied to Employment Law?

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Jef Lippiatt Co-founder at Startup Chucktown
Hi Jeff,In a general sense yes HR issues are tied to legal issues. For example I have a client who wanted to dismiss an employee via text message, which is a legal issue and could end up with your company being sued for unfair dismissal. It is important to always have the legal aspect of HR covered when dealing with employees for instance understanding the National Employment Standards which set out rights and entitlements , that are legally enforceable. Having good HR policies and procedures means less chance of litigation. The one area I wold like to remind employers is that of social media. It is good to also have a social media policy about what can be posted on to personal website relating to work issues and work functions. The better you communicate your policy the better you will be covered from a legal point of view.
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Questions

Disclaimer text: is there any point to it?

Does the disclaimer text inserted at the bottom of many corporate emails actually hold any legal... read more

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Lisa Creffield Founder at 3things
Yes a well worded disclaimer clause that is clearly stated will be enforceable. There are a number of different types of disclaimers or exclusion clauses. One type you have identified is on the bottom of emails but they are also found in most consumer contracts such as gym agreements, mobile phone contracts etc. They are enforceable as by signing those documents you are stating that you have read and understood the terms of the agreement and consent to waiving your rights. Exclusion clauses are also found in car parks, again if clearly displayed and worded will be enforceable. My advice is always make sure the clause clearly states what you are excluded, if it is vague it will be unenforceable. In terms of indemnify the company from inappropriate - remember you are vicariously liable for the actions of your employees. That means in simple terms -- you are responsible for every idiot you employ and the actions of that idiot. However if you have a clear social media and email policy then it could be a disciplinary action against the employee.
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Questions

How do I start a business?

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Yee TrinhCo-founder at SavvySME
Check out leanstack.com. This is the first thing I do before jumping into any business idea.
Ian HarrisDirector at B+I Lockwood Accountants
6 months should be fine but it will go fast. And you may need to raise finance which also takes time.
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Litigation and dispute resolution

Not Every Dispute is Suited to Mediation

Penalties avoided: WSW pay dispute settled in extra-time Why the Western Sydney Wanderers would... read more

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Buying and selling businesses

Understanding Small Business CGT Concessions: The Complete Guide

Small business is hard. Ask any small business owner and he or she will tell you about the hard... read more

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Drue Schofield Proactive Accountant & Tax Agent, Business Advisor, Property at 4Front Accountants Pty Ltd
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Questions

Can you recommend a good digital marketing lawyer?

Can Savvies please help with a referral for a legal firm expert in digital? I'm looking for an... read more

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James NorquayOwner at Prosperity Media
One law firm we have used in the past is Cooper Mills Lawyers (Office Sydney/Melbourne) they deal mainly in Technology Law - Trademarks, Digital Issues, Domains. I am not sure about Email marketing tho these guys have been very good when we have dealt with them. Ask for Erhan the partner of the firm he will know my name. If his firm can not assist you I am sure he will put you onto the right company to do so.
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Buying and selling businesses

Business Brokers: Who They Are And What Do They Do?

As a business person who wish to buy or sell a business, you might be wondering if it’s really good... read more

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Competition, consumer and trade practices

The Fare Game: What Uber Has Taught Us About Antiquated Business Systems

Uber is running hot in the media right now -- albeit for all the wrong reasons, and everyone has... read more

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Buying and selling businesses

Small Business Brokers: Do I Really Need One?

Do I really need small business brokers to help me? Let us begin the discussion this way:  Now... read more

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Buying and selling businesses

Important Things To Consider When Buying A Small Business in Australia

When one thinks of buying a business that is already up and running, there are certain points to... read more

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Business structure

What is a Shareholders Agreement and How Does It Work?

A Shareholders Agreement is a legally binding contract entered into by the shareholders of a... read more

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Wendy HuangFull Time Blogger and YouTuber at A Custom Blog in 4 Minutes
Great article Kate :)