Craig West Lets You Decide The Fate of Your Business

Tourism Conversations
Tourism Conversations
Craig West Lets You Decide The Fate of Your Business
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Craig West’s Business Succession+ knows that business owners often have different motivations than just cash. In this presentation to an investment audience, Craig explains the complex business of turning businesses with informal values into tradeable assets.

 

Tourism Conversations is produced by The Tourism News
With thanks to TommiRock Studios Newcastle
The Tourism News is published by Australian Voice

Show/ Business Notes

Arnotts
<a href=”https://www.abs.gov.au/statistics/economy/national-accounts/australian-national-accounts-tourism-satellite-account/latest-release”>Tourism Employment Figures via Tourism Satellite Accounts – how the government needs to view tourism (in economic data)</a>

Craig West – Succession+
<a href=”https://www.fremantle.wa.gov.au/”>Fremantle</a>

Employee Share Plans – Moneysmart.gov.au
https://moneysmart.gov.au/shares/employee-share-schemes#:~:text=In%20an%20employee%20share%20scheme,interests%20with%20those%20of%20shareholders.

Fremantle, Western Australia
https://www.fremantlewesternaustralia.com.au/

Rick Stein
https://en.wikipedia.org/wiki/Rick_Stein

Build It (Book) <a href=”https://www.booktopia.com.au/build-it-craig-west/book/9781925877106.html”>Employee Share Ownership Plans</a> – Available in Hardcopy at Booktopia and as an eBook

Enjoy It (Book) https://www.booktopia.com.au/enjoy-it-craig-west/book/9781925522921.html
Available in Hardcopy at Booktopia and as an eBook

Michael Gerber, Author of the E-Myth: “Having an exit strategy IS the ball game for any entrepreneur.”
Classic business book, HIGHLY recommended by The Tourism News, available on Audible https://www.audible.com.au/pd/The-E-Myth-Revisited-Audiobook/B00FPKQTTQ

Key takeaways
– Most of the money in business is made at some sort of exit.
– People vastly underestimate the value of a successful exit. 90% of people do not have an exit strategy.
– In Succession Planning, three things need to be in place;
Business needs to be ready;
Financials of the business and of the owners need to be ready; Personal goals of the owners need to be clear.
– Quote from Michael Gerber – Having an exit strategy IS the ball game for any entrepreneur.
– 21-Step model – liquidity event is all the way at Step 18.
– Your business is an asset and could be worth double if you get your figures right.

Tourism Conversations is produced by The Tourism News
With thanks to TommiRock Studios Newcastle
The Tourism News is published by Australian Voice

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