The Canberra Times

Business Coaching ConsultingAdvertising Feature

You need to be dreaming of the future, then planning for itAdvertising Feature

Taking action to improve your business will improve your life now and it will improve its sale price in the future. Photo: Shutterstock

No matter what type of business or industry you are in, it's always a good time to take time to think about your future.

You should first take a complete break from work to recharge the batteries.

Then, you should take the time while you are away from the day-to-day grind to dream of the future that you want for you, your family and your business.

In some cases this is a dream of a bigger, better business.

In other cases it might be a dream of moving on from the business to other things like retirement, of chasing an entirely personal dream.

The following are some points that might help in thinking about your future, no matter which direction it is that your dreams are taking you.

Fundamentals are Fundamental:

Revenue, profit and loss, balance sheets and cashflow drive all businesses, and if you are thinking of selling they drive all methods of valuation.

You need to understand your numbers and how they compare to industry averages.

This knowledge will lead you to understand how you can improve.

It is always the right time to be improving your business:

It is a journey without end but each step along the journey brings its own rewards.

Taking action to improve your business will improve your life now and will improve the sale price in the future.

You need to act now to prepare for eventual exit from your business:

1.4 million business owners will retire by 2024.

That means it's going to be a buyers market. 50 per cent of all SME businesses will change ownership in the next five years.

Most are not prepared so the ones that are will do much better.

No matter when you want to sell you should be tuning the fundamentals now.

Start preparing now with a three-to-five-year plan.

What is important to you may not be important to others:

Put your family first - agree objectives to avoid family conflict. Seek the views of others to help overcome "store blindness".

To prepare for an eventual sale try to understand your potential buyer market and what they are looking for.

Work at making yourself redundant.

This will reduce your stress, give you more free time for other things, and improve the value of your business when you eventually sell.

Get professional help:

Getting a review of all the business basics and how your business stacks up is a great start.

Gain the means to deliver policy reformAdvertising Feature

Tanner James has extensive public sector implementation expertise. Photo: Shutterstock

We believe consultants serve the APS best by helping transfer specialist knowledge and building the capability of public servants, not by taking their jobs

- John Howarth, executive director of Tanner James

Regardless of which party wins the election on May 21, the Australian Public Service (APS) will soon have to deliver on a major new policy and reform agenda.

The team at consulting firm Tanner James says that a transient workforce is not going to be the ideal way for the APS to deliver policy.

"We believe consultants serve the APS best by helping transfer specialist knowledge and building the capability of public servants, not by taking their jobs", said John Howarth, the executive director of Tanner James.

Tanner James is a trusted advisor to the APS on the practical application of global best practice program and project management.

"As a Canberra-based company, we have extensive public sector implementation expertise based on 28 years of working across every portfolio."

The company helps departments and agencies implement major policy, reform, and transformation initiatives through programs and projects.

Tanner James is an AXELOS Consulting Partner for the project management frameworks PRINCE2 and PRINCE2 Agile and the program management framework Managing Successful Programmes (MSP).

Tanner James' experience across the public sector shows that while training courses provide good foundational knowledge, the real value of such learning is only realised for the APS when the knowledge is put into practice with the guidance and support of experienced people.

"The Tanner James ethos is to meld our extensive experience of implementing program and project management best practice in the APS with the subject matter expertise of public servants to establish first-class programs and projects that deliver.

"There will always be a need for external specialists to deliver complex initiatives."

Tanner James are experts at helping the APS adapt program and project management methods to create trusted, true partnerships with all delivery partners with clear objectives, collaborative performance and genuine engagement.

"Building APS capability by working alongside public servants, not doing their jobs for them, creates a robust design and delivery culture within departments and agencies."

For information on the practical ways Tanner James can help your program and project teams contact us on 1300 774 623 or