Week 1 – Welcome and Overview

Now you can quickly and easily escape the fatal flaw in your business
and improve the cashflow, profit and lifestyle of your business by
“Preparing for Sale from Day One”

In this first Eclass we are going to start by give you an overview of the 12 Week Turnaround Program, and why this is such an important and valuable process for you to take your business through.

Then we’re going to help you asses where you and your business are right now, start setting your goals for your business turnaround, and lay out the plan for the next 12 weeks.

This program is going to change the way you think about business

Most business owners make the fatal mistake of not thinking about the end when they start or grow their businesses.

Over the next 12 weeks, you are going to learn how to view business like the most successful and wealthy entrepreneurs in the world. You will look at your business in a whole new light, and you will have knowledge and experience that most business owners never get access to.

This program is designed to get you thinking like a millionaire – whether you are in a million dollar business or a thousand dollar business, this process will make you plan for your exit and possibly reveal profits, potential and lifestyle in your business that you had never thought possible – you may even be sitting on a Goldmine!

And the reverse is also true – taking your business through this process may make you realise that your business is not going to give you the money, lifestyle or sale price that you want – in which case it can save you years of hard work and wasted effort – you can sell it now and move on to a business that has the potential to give you what you really do desire.

What are the advantages of preparing a business for sale?

When you prepare a business for sale, it’s a lot like preparing a house for sale. You do all the things that will make it more attractive to buyers, and get them to pay a higher price for it.

As it turns out, the things that make your business more attractive to buyers will also make it more attractive for YOU! But often we’ll do things for other people that we don’t bother to do for ourselves.

It’s like living in a half-renovated house – you put up with the inconvenience of unfinished plumbing, painting, wiring, kitchens, bathrooms, tiling or flooring. Until you need to sell and all those little jobs get done in double time and the new buyers are the ones who get to enjoy it all finished!

The same in your business – why not finish off your business now and reap the rewards, rather than do it when you come to sell and let someone else enjoy all the benefits??

When you prepare a business for sale, you are also forced to consider the future. Study after study has shown that people who set goals and have a plan are far more likely to succeed and more likely to be happier on the journey too.

Here are some other benefits of preparing for sale:

• You will be building a valuable business asset which you can sell one day – rather than find yourself with no value and be forced to walk away
• You will find ways to make your business more profitable and more efficient
• You will restructure your business to be easier to run and to run with less involvement from you – this means you will be able to reclaim a lifestyle as well as an income!
• If you decide to grow your business, you will have a structure that allows smoother, easier growth and easier financing from banks.
• If you have big plans and want to grow your business by taking on investors, you will find it far easier to attract quality investors
• And when you do decide to sell, you will be ready to make a faster, easier and more profitable sale on your business. And if something happened that forced you to sell, you would know there was an asset there for you and your family.

So now you know WHY it is so important to do this process, now it’s time to get right into it – as we always say, we’re about simple, practical and fast – so let’s get started…

 

PHASE 1:
WHERE ARE YOU NOW, AND WHERE DO YOU WANT TO BE?

In the first phase of The 12 Week Turnaround program, we’re going to give you a whole new way of looking at your business. Most business owners we meet never consider their business in the way we are about to show you, and it will help you step back and see it clearly, so you can truly asess where you’re at right now.

Then you’re going to explore the possiblilties of where you want to be, and set your end-goals for the 12 weeks. We’re going to share some stories with you to give you some inspiration and ideas about what you can achieve! In this phase we’ll also start creating the Roadmap to get you there – because we know that successful and fast turnarounds come from some simple preparation at the beginning.

We have created a Renovation Roadmap for you to fill in as we go through this process. Download Your Renovation Roadmap by Clicking Here.

In the next Eclass we’re going to show you how to value your business and assess it’s strengths and weaknesses, so you can get a very real picture of where you are at right now. But before you do that we want you to get excited about what’s possible.

The 12 Week Turnaround is designed reveal the goldmine in your business, but everybody’s goldmine is different. We know business owners who work a couple of hours a day and make over $1 Million a year, and we also know business owners who are happy working 3 or 4 days a week for $100,000 a year.

Whether you are wanting to sell your business right now or at some time in the future, it is important to clarify in your mind what you really want from your business and your life – what is a business goldmine to YOU?

Exercise:

Download the Ideal Business Goals Worksheet and write down your ideal situation for each of these areas. Don’t worry if you aren’t completely clear at this stage – this exercise is more about getting you thinking about what you want, rather than setting down hard and fast goals. There are more details and examples in the downloaded worskheet.

	1 Year	5 Year	10 Year and beyond
Ideal Business
Ideal Working Hours
Your Ideal Day
Ideal Income Per Year
Ideal Business Sale Price

 

(Click here to Download the Ideal Business Goals Worksheet)

We have included different time frames because what you want now may be different from your ideal situation in 5 or 10 years time.

In the next Eclass we’ll continue creating your roadmap by showing you how to value your business, and then we’ll clarify your goals for your business so you know where you are heading.

In Phase 2:

We’ll guide you through the essential steps you need to know BEFORE taking ANY action! This will give you the foundation you need to go forward clearly and confidently.

In Phase 3:

We’ll take you through the renovation – you’ll find out where to focus your energy to give the best and fastest return on your efforts.

In Phase 4:

The final pieces of the puzzle fall into place, you’ll be able to present your business in a way that attracts qualified and targeted buyers and you will have a business that is set up the right way for maximising value, profit and lifestyle. You can be confident that the time and effort you spend growing your business will be well rewarded, and you’ll be ready to sell for top price when you want to cash in!

The Advanced Strategies

After the 12 Weeks, we’ll give you the opportunity to move onto the advanced strategies and secrets to getting your business sold for top price. We’ll disclose our inside broker tips for selling, negotiation tricks and extra essentials for getting top dollar for your business.

Then once you have renovated and sold a business, you’re going to have the skills to make huge profits – so we’ll show you our insider strategies for finding and buying a business with huge potential.

We’ll show you how to tell the bargains from the “basket cases”, how to buy a business with no money down or even pick one up for free, and how to be a gun negotiator when buying a business.

Many of the multi-millionaires we work with use this Buy, Renovate Sell strategy over and over again. Many now work from home or a mobile phone and make over $1 Million a year.

The value and potential in this knowledge is enormous, and we are looking forward to guiding you through the whole process and sharing all our knowledge and experience.

 

Task for this week:

Your task for this week is to fill in the Ideal Business Worksheet, and then start the valuation process. Next week we are going to show you how to value your business yourself, but in order to get a true feel for what it would be worth in the current market, you need to ask an expert.

Your task this week is to phone three (3) different Business Brokers and talk to them about your business. Tell them you are thinking of selling and want to get an idea of what it would be worth in the current market. Make sure you choose brokers who are experienced in selling your kind of business – one of your first questions should be “Do you sell many businesses like mine?”

While you are talking with them, get a feel for their selling style. Do you like them? Do you feel you can trust them? At this stage there is no need to have them visit your business unless you want them to. To find brokers in your llocal area you can Google “business brokers”, or look on the main business for sale sites such as www.seekcommercial.com.au, www.realcommercial.com.au or www.business2sell.com.au. You can also look in the yellow pages, or in the local newspaper under “businesses for sale”.

Ask them for an estimated valuation. Then download your Renovation Roadmap and enter your findings.

And finally…

We’d like to say congratulations for taking the first step – we’re excited to have you on board and we’re really looking forward to hearing your results!

We also want to make sure you understand everything and get the most from this course, so if you ever have any questions, please feel free to email us at [email protected] and we’ll be happy to help.

See you next week,

Matt and Liz