The likelihood is that unless you are running a ‘life style’ company, the objective of yourself and any corporate backers will be the ultimate sale of the company. If you have been reading some to the previous sections of the document, you will have seen that everything you do is ultimately leading up to that … More ON PREPARING FOR A SALE
I would not attempt for legal and technical reasons to go into the maze of legislation and options related to pensions and pension planning. This is a job for the specialists and I would urge extreme caution before considering any of the issues below. The SSAS (Small Self-Administered Scheme) is a piece of pension legislation … More ON PENSION BUILDING
No matter how small a company it is important to have a very clear distinction between the different roles and responsibilities of the various groups involved in a company i.e. shareholders directors and the management team. Even though there will be instances where the same people will have responsibilities in each group, if there is … More ON BOARD STRUCTURE
I talked in the previous section about how the development of management systems, infrastructure and processes which were built on upon the fundamental mission and values of the company were essential before international or geographical expansion should be considered. The next point to ask yourself is why do you want to do it? Have you … More ON INTERNATIONAL EXPANSION
Unless you are an accountant, balance sheets are unlikely to hold any great fascination for you. It is far more exciting to pioneer your company into new frontiers. However, my advice is “Learn to love your balance sheet” nurture it, care for it and watch it grow. Because when you go to sell the business … More ON THE BALANCE SHEET
Mission – The mission statement of a company should contain the very essence of your business philosophy. It should not be just a bland statement that gets put in the reception. The mission statement not only defines what the company is committed to become, but “why” it is striving for this mission. The statement should unite … More ON MISSION AND VALUES
The chances are that, if you are running your own business, you are fundamentally an entrepreneur and instinctive marketeer. There are as many definitions of the term marketing as there are management gurus. My particular favourite is, “Marketing is the process responsible for identifying, anticipating and satisfying customer requirements profitably”, i.e. marketing is in fact … More ON MARKETING
