Good reviews are gold for your business. You can spend all day telling people how wonderful and great your product or service is, but what they really want is proof.

Showcasing testimonials and written or video case studies is a great way to do that because prospective customers are less inclined to believe what you, as a business, have to say. People are more interested in hearing and believing what other customers have to say, rather than what your sales staff have to say.

If this is an area of opportunity for you, start off with small steps

Ask your most loyal customers to send you a short statement on why they chose you, or what they like about your product or service.

Once you have a collection of these testimonials, use them as part of your marketing: on your website, back of your business cards, or even printed collateral.

Ask for them to add their review on your Facebook business page and on your Google Business profile. (Reviews show up next to your Google Business Profile in Maps and Search). Make the process easy by providing a direct link after a successful sale. (you can choose to have reviews on or off in the settings of your page – so you can decide if you are ready to implement this).

For bigger purchase decisions, case studies offer prospects a lot of detail on why you are the obvious choice. Choose customers or clients that you have a good relationship with. Ask a series of questions to highlight how the customer interacts with your business, the problem it solves for them, why they chose your business over the competition, and what they would say to others wanting a similar experience.

Your most loyal and satisfied customers can sell your business for you, through their story and their words.

The following content was originally published by BOMA. We have updated some of this article for our readers.

The beginning of a new calendar year is an excellent time to review the year just finished and reflect on what worked, what didn’t, what you’d like to change and new things you’d like to implement.

Take the time to review the year and acknowledge all that has happened, good, bad or indifferent. Examining the year with an objective perspective can provide valuable insights to prepare for the next business year. Planning and goal setting will help provide a focus for your business efforts.

Your Yearly Business Review

• • What were the most significant impacts on your business in the last 12 months? How well did you meet the challenges?
  • What worked well last year? What systems, technology, products or services were successful?
  • What accomplishments can you celebrate?
  • What situation, event or experience provided the biggest learning opportunity?
  • What is the biggest challenge or frustration you face as you prepare for the year ahead?
  • What did you most enjoy during the year? Do more of it. What did you least enjoy? Do less of it!
  • Analyse your financial reports. Are you earning what you’d like to? Is the business sustainably profitable?

Get Ready for a Great Year

While there are many metrics you could evaluate to track business performance, we’ve given you just a few ideas to inspire your business planning for a positive start to the year.

If you’d like to chat about what you can do differently this year to enable your business to thrive, book a time with us today.

The following content was originally published by BOMA. We have updated some of this article for our readers.

It takes a lot to start a business. Few business owners start with exit in mind.

You start with a dream and the tenacity to make it real, and make it grow. When do you start thinking about what you want to happen when you retire?

Some business owners talk about funding a lifestyle but actually work is their lifestyle. They’d rather go with their boots on. But what happens to the business? Assets? Clients? Employees? The dream and the hard work that made it real?

Don’t let your exit strategy happen by accident. Three ideas to start with:

• • Successors: Family members? Your team? Franchisees? A few key people motivated to form a partnership? Who is interested? Who has the potential and passion for it?
  • Alternatives to exit: The idea of retiring bores you to snores. Retain an interest in the business. Share the knowledge you’ve built up, have the satisfaction of seeing the business continue to grow and discover the lifestyle you could have now that you have time to have a life.
  • Ready to sell: If selling is your best option, is your business market ready? To achieve the best price, you need your business to be in the best shape. Analyze it from the point of view of a potential buyer. Is there clear documentation on business processes and performance? Is your business performing at peak? What needs to happen and what’s a realistic timeframe?

These are things we can help with. Start the conversation with us today.

We can run a cost-benefit analysis

Could buying a building be the right choice for your business? We can work with you to analyze the costs and benefits of each option, to help you make an informed decision about which one will put you on track to achieve your goals.

Get in touch today, we’d love to hear from you.

The following content was originally published by BOMA. We have updated some of this article for our readers.

Tired of paying rent for your commercial premises and considering buying a premises for your business?

Owning a building works best if your business is well-established, you have money to invest, and you’re taking a long-term approach – it can take many years for this decision to pay for itself.

The advantages of owning a commercial property

• • You no longer need to worry about dealing with a landlord. You’re the landlord now, so your lease won’t end and you get to make all the decisions about how the premises is used. If you want to make changes to the fitout, it’s up to you.
  • You don’t have to worry about rising rent. Eventually, owning a premises will be cheaper than leasing. When you continue leasing, you can expect the rent to keep going up – sometimes the jump may be substantial.
  • If your business moves or closes, you still own the building. This can be a highly valuable long-term asset, depending on the type of building and the potential tenants.

The advantages of leasing your business premises

• • Leasing gives you more flexibility. You can move if your business gets too big for the space, or downsize if more people are working from home.
  • You don’t have to worry about paying building expenses like rates, warrants of fitness, and insurance.
  • Your rent is likely to be lower than the servicing costs for a commercial property loan, boosting cashflow so you have more to invest in the growth of the business.
  • The landlord will take care of repairs and maintenance on your building – when there’s a leak, for example, it’s not your problem.
  • Commercial buildings are typically expensive and financing is costly, so you’ll need to do plenty of research before you decide to make a purchase.

We can run a cost-benefit analysis

Could buying a building be the right choice for your business? We can work with you to analyze the costs and benefits of each option, to help you make an informed decision about which one will put you on track to achieve your goals.

Get in touch today, we’d love to hear from you.

The following content was originally published by BOMA. We have updated some of this article for our readers.

A business mentor can provide guidance and support, so you make the right decisions and stay focused on the end goal as a business owner.

They can also help you move forward in your career by providing advice and feedback on what steps to take to reach the pinnacle of success.

But have you ever thought of your accountant as a mentor?

Why your accountant is the ideal mentor

Having someone who understands your business journey is incredibly important. You might see an accountant as someone who files your tax returns. But, in fact, we’re experienced business owners, with access to a significant network of other business professionals.

An accountant can be the mentor you didn’t know you needed. No-one knows your business better than us, so we’re perfectly placed to offer you advice, guide your business journey and help you push your skills and capabilities as a business owner.

As a mentor, an accountant will:

• • Expand your knowledge as an entrepreneur – as business owners, we have the knowledge and experience to help you move your business forward. And we can work with you to expand your leadership skills, business thinking and entrepreneurial ideas.
  • Be a shoulder to lean on – we’ll offer 1-2-1 mentoring sessions where we can listen to your unique worries and concerns as a business owner. Having someone on the same page to listen and empathise is vital for your business and your own mental health.
  • Guide the important elements of your business – we’ll help you manage and improve your business strategy, planning and decision-making skills. We’ll also provide the management information systems you need to guide your finances and planning.
  • Keep your finances on track – we’ll show you how to maximise profits, reduce costs, and make better financial decisions. We’ll also help you plan your own personal wealth and tax strategies, so you can achieve your own entrepreneurial goals and lifestyle.
  • Introduce you to a broader business network – we work with hundreds of other business owners across a range of industries. This means we can link you up with other entrepreneurs and founders, so you have a network of other like-minded individuals to connect with. This can be vital when brainstorming and benchmarking, or if you need to talk to someone who understands the specific pain points you’re experiencing.

Having someone to guide your business journey can be invaluable. A business owner must grow and evolve along with their business, and having regular mentoring catch-ups is the ideal way to progress, offload your concerns and look for new inspiration.

If you want to grow as an entrepreneur, please come and talk to us about our mentoring services and how we can guide your business future.

The following content was originally published by BOMA. We have updated some of this article for our readers.