On the evening of November 26 we were fortunate to present to 17 aspiring business owners at our “Are you thinking about Buying a Business: How to de-risk & avoid bankruptcy” seminar.
Some of the knowledge we gladly imparted upon attendees included:
- The five stages of buying a business, including highlighting the need to conduct a Business Validity Deep-Dive around stage 3 or 4 and a comprehensive due diligence during stage 5.
- Business horror stories – real world examples of when people have got it wrong; hopefully this helps aspiring business owners avoid the same mistakes.
- The power of purpose and showcase of some of the world’s best businesses and why they are embracing being Purpose-Led.
- A run through of The Purpose-Led Difference framework and how it applies to buying a business.
- Err on the Side of Caution – highlighted the appropriateness of being sceptical of what the seller says about their business.
- Common valuation methods and the necessity to thoroughly scrutinise ‘add backs’.
- Tax planning is as much about minimising tax now during the purchase, as it is about minimising tax throughout the whole business life-cycle, including eventual sale.
- Financial funding options and the risks of a ‘tax holiday’.
- Purchasing the business is just the beginning of a long journey and its best to embrace being Purpose-Led at every stage of your business to help achieve extraordinary success.
- An introduction to the Munro’s Purpose-Led System of Advantage, which is about helping your business avoid being ‘forever hopeful but directionless’ and instead purposefully finding and articulating your why (purpose & passion), to know your where (vision & direction), which allows you to plan and accomplish your how (action & accountability) and ultimately achieve The Purpose-Led Difference (profit & meaningful impact).
- Plus much more.
Before we wrapped up the seminar, we watched this powerful video by Unilever as it captures the essence of why it’s so important for businesses now and into the future to be Purpose-Led 💜💲🎉.
Many of the attendees personally thanked us for sharing this video as it is truly inspiring.
Finally, attendees walked away with our brand new, hot off the press handbook – The Purpose-Led System of Advantage for Buying a Business in Western Australia. It includes a BONUS due diligence checklist AND a special discount voucher for a Business Validity Deep-Dive.
If you or someone you know would like the handbook, get in touch and request a copy!