In recent posts I have made mention that it can be very difficult to deal with the Financial Institutions regarding lends for a business purchase. All the Banks have wound back their qualification criteria from the boom times of the early to mid 2000s. The Reserve Bank remains very concerned that the Banks still are concentrating on loans to the Agriculture sector rather than to the business sector. The RBNZ noted the fast pace of decline in credit to households and business over the past year, partly softening of activity, but also said that banks and other lenders have tightened up qualification criteria considerably. Seen at: State of lending vindicates Reserve Bank's concern. Read More...
Passion - Nothing great has ever been achieved without passion!
Tuesday, June 02, 2009
After looking at hundreds of businesses throughout our careers, Paul and I have often asked ourselves what the consistent link is that connects all the best performers we have seen. All businesses need good systems, management, staffing, product or service etc, but the most overlooked to us is passion. Read More...
Buy a business, don’t be sold one!
Monday, May 25, 2009
In a meeting I had today with a purchaser, he made a comment that reaffirmed to me the mindset any business purchaser should adopt in any market. “I want to buy a business, not be sold one”. This means to me that a buyer completes a transaction where he/she has complete involvement and understanding of each of the stages of the purchasing process. Read More...
Growth by Acquisition!
Tuesday, May 12, 2009
My first two posts talked about whether you as a business owner could or should exit your business. If you have decided to stay involved, then the question now must be, how can I grow my business in these troubled times? Read More...