This is the 2nd part of a commentary on business value enhancement that all business owners should consider in their journey to improve their businesses, and ultimately the $ale value of their business.
The “How’s business” question, or more likely, the colloquial greeting of business owner’s, is often innocent enough, but how many business owners have the knowledge to be able to answer you accurately.
Business owners will answer the question either as optimists, pessimists, or …… “uninformed”.
This is the first of a 2 part article on business value enhancement that all business owners should consider in their journey to improve their businesses, and ultimately the $ale value of their business.
The role of a business advisor (or mentor) is to guide you through a period of change towards agreed objectives. This will include the advisor attending to:
• Being an effective sounding board for your ideas, providing honest feedback.
• Share his/her experiences, including what has worked and what hasn’t worked?
As business advisors, this is perhaps the most common question we get asked by business owners. To understand why, it’s important to understand the difference between profit and cash.
As an Accountant, it’s hard to go past explaining this without using a formula! In simple terms;
