Buying a Business

Problem 1: FOMO

The fear of missing out is so powerful and can lead people to make terrible decisions. Buying a business requires you to put a lot of wealth on the line. You’ve got to think clearly and sceptically.

Be sceptical.

Reduce the chance of buying an overpriced / non-profitable business.

Problem 2: How to De-risk

When arranging a due diligence, you should really follow the classic wisdom: you can’t just look at the iceberg above the ocean surface because there is so much hidden and dangerous below.

Comprehensive due diligence.

Make a fully informed decision and know what you’re getting into.

Problem 3: Setup for Future Tax Success

Tax is generally unavoidable, but the amount of tax you pay in the future will be heavily influenced by decisions made now.

Setup tax planning.

Bare minimum tax.

Problem 4: Assets & Liability Protection

Operating a business increases exposures to extra liabilities and requires safeguarding of existing and new wealth as best as possible.

Basic asset protection + optionally advanced protection.

At least the bare minimum wealth protection you should have.

Problem 5: Going into Business with Others

Whether you’re going into business with family or friends, it’s important to recognise that business life and the stresses it brings will give rise to new and sometimes challenging issues.

Clearly defined and understood intent with proactive dispute resolution agreement.

Mitigate the potential of messy and costly future disputes.

Problem 6: Financing

How are you going to fund buying the business? Do you need extra funds to satisfy ongoing financial obligations? What additional liabilities, guarantees and risks are you going to take on? Will you have sufficient cash to survive and eventually thrive?

Appropriate funding.

The money you need to survive and thrive.

Video Coming Soon Mid 2024

Problem 7: Setup Accurate Accounting from the Beginning

We cannot stress enough how vital it is to setup an accurate accounting system from the beginning.

Startup bookkeeping.

Clean financial information from the beginning as opposed to a costly, uninformative mess.

Problem 8: Employing People

Employment, tax and superannuation laws impose a heavy burden on employers and you must give this responsibility the attention and care it requires.

Skillful and pragmatic support with implementing employment basics.

Legally compliant employment arrangements.

Problem 9: Business Ownership Education

There is no one who knows everything about business. From the moment you buy your business, you’ll need to continually upskill to meet the challenges. Don’t start from scratch; tap into the knowledge and learnings of others.

Sprints, blended learning, community insights and coaching.

The best leader you can become, as quickly as you can get there.

Are you ready to buy a business?

Take the spam-free* Buying a Business Diagnostic.

Start now

* You’ll receive only two emails, which deliver the results, analysis and recommendations from the diagnostic. You won’t be added to our mailing list unless you explicitly opt-in.

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Top 2% ranked Australian Accounting Firm

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