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Business Sales Case Studies NEW ZEALAND EDITION, DECEMBER 2017 - MARCH 2018 Business Sales Case Studies Managing the Proceeds Wording of the of a Business Sale Agreement is Paramount How to Ensure You Achieve the Best Price “Ready for Action”: when Faced with an Building a Business Unexpected Sale Plan that gets Results How to Improve the Success New Zealand Top 10 - Rate of a Sales Contract No.1 Broker of the Month Linking the Perfect Buyer New LINK Brokers with the Perfect Business! Businesses for sale plus 100s more at linkbusiness.co.nz NZ $6.50 AUS $5.50 INC GST ww Small Business Experts Dedicated KPMG Accountant Fixed monthly fees Access to a broad network and resources Market-leading insights and technology Accounting packages from $100 + GST Per month 0800 KPMGSB (0800 576 472) [email protected] kpmgenterprise.co.nz © 2017 KPMG, a New Zealand partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (KPMG International), a Swiss entity. All rights reserved. 02135 2 linkbusiness.co.nz 0800 546 528 get.kpmgenterprise.co.nz/business-planning Why is planning key for every 3. Break down each objective into Your business planning checklist: actionable steps business owner? Do you know your Strengths, Weaknesses, At the end of the day, your success against your plan will Opportunities and Threats (SWOT)? “ Ready for If you need any incentive to start working on your plan, just be measured by how many objectives are successfully take a look at the statistics. According to research from implemented. Have you limited your plan to your top priorities Cranfield University School of Management and Warwick that will deliver the most value? Business School, businesses that plan effectively are up to But simply stating the goal (e.g. “increase market share by 10% 30% more profitable. in 12 months”) will not ensure it gets implemented. Objectives Have you identified the steps or tasks that should be broken down into a series of steps or tasks, and together comprise each objective? action”: building The key to having an effective plan, though, is one that supports business owners should strive to keep objectives and tasks implementation. In other words, it helps you get things done. Specific, Measurable, Achievable, Relevant and Time-bound. Are your tasks and objectives as Specific, The old style of business plan is a template-type document that Measurable, Achievable, Relevant and “Being able to track progress, and knowing when each part Time-bound (SMART) as possible? is dutifully written and filed away in a drawer. It is only dusted off is complete or overdue, helps any team working to a plan by a business and updated in reaction to a particular event or realisation, such driving urgency and action,” says James. ‘What gets measured Do you have reminders set to regularly review as a meeting with the bank or needing more capital. gets done’ is a common adage that applies here. your plan, and will you be able to use your plan Actionable business plans are highly valuable to any business It’s also important to strike the right balance in terms of between these milestones? owner – and at any stage of the business life-cycle – whether being ‘achievable’. you’re starting out, growing, or looking to exit your business. Have you sought independent input to challenge “Unachievable objectives will lower motivation – people are your assumptions, and ensure your plan will plan that quick to realise futile tasks,” says James. deliver real results? Here are some key areas to focus on: “But nor should you make them too easy, or not exciting 1. Know your SWOT enough. I’m a firm believer in encouraging stretch-goals Wondering where to start? A useful way to frame up your and ambition within any business. That’s where the real gets results. thinking is to gain an understanding of your Strengths, magic happens.” Do you have any questions about building a plan table of contents Weaknesses, Opportunities and Threats. There will be two for your business? main outcomes from this, explains James. 4. Keep your plan ‘live’ KPMG’s Enterprise team will be happy to answer them. “By looking at your competitive advantages and areas of Firstly, don’t hide your plan away in a drawer – keep it out there We can also work with you to build a comprehensive plan strength, as well as honestly recognising weaknesses, you and visible. Get it made into posters to hang around the office, for your business using our online planning tool (which you can generate a realistic picture of your business in its current for example, or laminate goal cards for your sales team to keep can access on any device). This will save you time, help state,” he says. on their dashboard. optimise your efforts, and translate your objectives into “A frank assessment of the risks and competition facing the Secondly, ensure you keep it ‘live’ and constantly updated. actionable results. business, as well as the size of your opportunities, will itself James recommends actively using your plan to drive business- begin to flesh out important objectives for your plan.” as-usual towards achieving your goals. Available exclusively through KPMG Enterprise, KPMG Business Planning combines subscription access to our “The best plans are used regularly to give direction online planning tool with KPMG’s expertise and experience, 2. Be ruthless about prioritising and purpose,” he says. Your initial brainstorming may give you dozens of ideas – and that’s and is tailored to the needs and budget of New Zealand’s “Reviewing your plan at consistent intervals provides great. But it’s critical to then achieve focus by limiting your plan to: small-to-medium enterprises. 08 opportunity to diagnose any issues or blockers early, allowing 04 05 06 a) a small number of your most important objectives that will you to reallocate resources or seek additional help before To watch a demo, go to: b) deliver the most value. you’re too far behind.” https://kpmg.businesssorter.com/ Welcome. From the Director New Zealand Top 10 - New LINK Brokers. “Ready for Action”: Building a “If you allow yourself to include almost every initiative you can think of, you’ll generate a lot of noise clouding out what is most 5. Seek independent guidance Or contact us: Aaron Toresen - Managing No.1 Broker of the Month. Business Plan that gets Results. valuable. Having too many objectives in your plan when you start Email: [email protected] Director of the LINK Group. BusinessBy KPMG. plans generally fall into implementing can result in you feeling swamped, or spreading To be effective, your plan needs to be robust and realistic. That’s one of two categories. One is a resources and efforts too thinly.” why it’s useful to challenge any assumptions by asking a trusted Web: get.kpmgenterprise.co.nz/business-planning mentor or advisor to review your plan. document that sits forgotten in a James advises that you narrow your focus to “There is much to be gained from independent, expert viewpoints when building your plan,” says James. drawer, gathering dust. The other around 4-6 key areas, “Knowing you’ll receive acts as a powerful motivator and which are ranked in order the greatest value by “This will keep your plan honest, and can also be used to James McGeorge is a Manager within of priority. ‘live’ roadmap for the business. focusing on your top help address areas of weakness or where you may have less KPMG’s Enterprise team. priorities will motivate you knowledge. You’ll have a far stronger plan as a result.” He specialises in advising small In this article, KPMG’s James McGeorge offers to stay disciplined to your You might also consider seeking ongoing advice and guidance to medium businesses and 5 tips for business owners looking to create a plan. It also helps put your from your experts. For instance, KPMG offers a tool that will fast-growth companies with their plan for their business that can be quickly and team on the same page.” help you build your plan faster – as well as keep you on track strategy and business planning. efficiently translated into action. with implementing it. 10 12 14 16 A Win-Win Case Study. Business Sales Case Studies. Wording of the Agreement is How to Improve the Success By Martin Plom. By Chris Bryant. Paramount. By Stewart Germann. Rate of a Sales Contract? By Susan Xiao. 18 19 20 22 Linking the Perfect Buyer with Case Study by Rick Johnson & How to Ensure You Achieve the Managing the Proceeds of a the Perfect Business! Mike Fraser. Best Price when Faced with an Business Sale. By Sam Stanley. By Rudy Kokx. Unexpected Sale. By Dave Morgan. 24 $1 million plus 58 Taranaki / Manawatu / 38 Far North / Northland Wanganui 39 Northland / Auckland 59 Lower North Island Surrounds 61 Canterbury 40 Auckland 63 Canterbury / 50 Waikato Other Sth Is Locations 23 52 Coromandel Peninsula / 64 Nationwide Bay of Plenty 65 Wanted Businesses Business Opportunities 53 Bay of Plenty 66 Sold Businesses 57 Taupo / Hawke’s Bay linkbusiness.co.nz 0800 546 528 3 Welcome From the Director EDITOR Jenny Holden Aaron Toresen is the Managing Director of the LINK Group throughout New Zealand, South Africa, Australia, the United GRAPHIC DESIGNER States and the Philippines through a successful franchise Carla Watson network. Competitive and solutions focused, he is also acutely aware of the value of long term relationships in business. CONTRIBUTORS If you would like to join LINK visit linkbusiness.co.nz Aaron Toresen, Dave Morgan, KPMG, Stewart Germann, Martin Plom, Chris Bryant, Susan Xiao, Rudy Kokx, Sam Stanley, Buying a business is no minor venture and should be approached with clear intent.
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