Aron

About Aron Brajtman

This author has not yet filled in any details.
So far Aron Brajtman has created 34 entries.

How to Obtain a High Sales Price for Your Business

A business should do more than provide the owner with a livelihood. In addition to fulfilling the owner’s passion it needs to achieve such value that the owner can sell it at exit time for a price that reflects the time and effort invested. After putting in 20, 30 or 40 years the business should be sold for enough to provide a comfortable retirement for the exiting owner. If not, then all the business did was to provide the owner with a job. Building a business should factor in an exit plan and converting into cash the value built up over the years.

At exit time because of age, lifestyle changes, and financial needs, business owners want to realize the value locked up in their business. Too often the offers they receive do not meet their expectations. This is a situation that could have been avoided.

The investment made in building a business over a generation is frequently several million dollars, and too often it cannot be sold quickly. So, to arrange for a quick sale, and to obtain a fair price much preparation should have […]

Why There’s a Need for an Exit Strategy

Eventually all business owners will need to exit their business.

Reasons may vary but they revolve around the following factors:

Retirement because of age
Health problems of the owner or their family
A change in circumstances impacting family finances
Unexpected family issues
Change of interests and no longer passionate about the business
An unexpected offer
Pursuit of new venture
Need to raise money
Desire to spend more time with family or take care of a loved ones
Death of owner/financial difficulties
Desire for liquidity and asset diversification on the part of the primary shareholder
Competitive pressures. Unable or unwilling to compete.

 

Having established that exiting is unavoidable, the wise business owner will create an exit strategy while still many years away from departure and will run their business with the view of securing the best possible price when that time comes.

Find out how to obtain the best possible sales price for your business.

 

By |January 18th, 2018|Exiting|0 Comments|

How We Can Be Your Competitive Advantage?

Maybe this sounds familiar?

In the past the business was fairly successful. Now it’s barely providing a living and the outlook is no better.

You are worried about surviving.

You are worried about your competitors taking away your market share and your customers.

Nothing is helping.

The cause could be any number of things such as:

The business has weaknesses that are overwhelming it
The business team needs strengthening
The environment has changed and the business has not kept pace
The competition has grown stronger

We can help with all of these and today we will address the competition.

We claim that if you don’t possess a competitive advantage , that is if customers have no specific reason to chose you then you are seen as a commodity and your prospects look for the cheapest provider.

A competitive advantage starts with thinking about customer needs and and your planned solution to those needs.

Take our firm for instance. What competitive advantage does Aron Brajtman CPA’s possess?

We do several things that other accountants don’t:

We help in creating growth in the value of the business.

We do this by focusing the busines on areas […]

Rapport as a Sales Tool

Rapport is the ability of buolding a n immediate relationship by showing your prospect that you share the same values.

For instance when I learned that my business coach was a fan of Stephen Covey and of the Blue Ocean startegy,I realized that we were very much on the same wave length both when it comes to sharng a belief in effevctiveness  and in values.

The benefit of rapport is taht it builds trust very early in a relationship an dsaves much inquiry. It makes the achieving of mutual goals musch easier.

Let’s get real: Inadequate Financial Management

Failure in business is unavoidable when the cash finally runs out. You close the doors and pack it in.

The failure was apparent for some time ,maybe years and is frequently the result of poor management skills.
Let’s get real.
Mahan Khalsa uses that term in his book of the same name. For me let’s get real refers to the capabilities a business must poses to survive. See diagram below and click to enlarge it.

I repeat. The business to survive must be strong in all these areas.

Today I want to address financial management. Below are problems that indicate inadequate financial management.

 

Learn how to deal with your challenges by downloading diagnostics of survival and see where the solutions lie.

 

Did you validate your business idea?

What follows is a step by step series of validation steps building or disproving the case for starting a business. This act of validating a business case will significantly increase the odds of success in a world where most new businesses go quickly out of business.

 
Identification of Business Opportunity or Need
No business should be started without identifying an existing concern shared by the stakeholders in the industry and without identifying this as an opportunity to provide a solution. For instance, say that the nearest pizza outlet is 50 kilometers away and they won’t deliver to our location. That’s an existing concern and the opportunity is obvious. If on the other hand the area is well serviced by enough pizza outlets, what’s another outlet going to do? It will not satisfy the market any better, Instead another vendor has been added to an already saturated market.

I used pizza as an example but the same applies to any service provider  such as a dentist, chiropractor, optician, physiotherapist, renovator, painter etc . The same applies to products such as car dealerships, appliance vendors. retailers in general. The […]

Pricing Your Wine

If only the wine sold itself.
You want to create it and share it with friends and visitors to your winery. If only someone would take the bulk of the production from you at a great profit to you wouldn’t life be great?
Unfortunately, you must sell your wine, and to sell it the wine must be correctly priced.
Price the wine too low, and you don’t make enough to cover the costs. You also feel like an amateur (chose your own word) for not reading your market correctly.

Price the wine too high, and you will be storing it in inventory.

Correct pricing is not guesswork.
It is the result of selecting your market segment, knowing what your customers like, why they buy from you, and assessing competitive offerings. Your own costs come last.
So how well do you know your market? Are you selling

directly to the consumer,
to restaurants,
and/or to the LCBO?

If you said all of them then you may want to reconsider.
The table below illustrates four broad segments related to wineries that require different strengths and provide different rewards. Not all wineries need to play in all arenas.

Segment
Why […]

By |September 30th, 2015|Wines|0 Comments|

Making Great Wine and Great Money

I stand in awe of the individuals I have met that established and operate a vineyard and a winery here in the County. They had a dream and the strength to carry it out.
Having a dream, a vision and passion are necessary ingredients of creation. They permit a dream to become reality. These visionaries have talents and energy that the rest of us can only dream about.

However, once the vision has become reality a different skill set may be required. The ship builder needs a captain to pilot the ship. The winemaker needs someone to sell their wine.

Few of us are blessed with the ability to visualize the dream and then continue on to create an enterprise that is self-sustaining, grows over time and produces the financial and psychic satisfaction to reward the efforts that have been invested.
Most of us are good at some things and less strong in other areas. So once the dream has become real we often need a team to help carry on and build a healthy and vibrant enterprise. The early building blocks of that team are the right […]

By |September 30th, 2015|Wines|0 Comments|

Concentration and Leadership

Concentration and Leadership
 

Mere competence is every business’s price of admission. If we are not competent we will not be allowed to play in that arena.

Concentration on and leadership in a specific market segment often leads to higher profits than other members of the industry. Strong profits come from having a leadership position in an area highly valued by the market, and is is reflected by a strong gross margin. The market may place a high value on the product, the service or the way it does business.

Failing to be a leader, the business becomes one of many. It becomes average, undistinguished. Average businesses don’t have a long life. Poor business conditions drive them out of the market, and their life span is limited.

A position of leadership may be created by concentration. This means concentrating efforts on the smallest amount of resource that will yield the largest amount of revenue. It means reducing the amount of products to those that contribute the largest profits, as the others merely add to costs. It means reducing staff activities to those likely to generate large revenues.

A business should […]

Opportunities not Problems

 
Opportunities not Problems
 

Too many of my clients and prospects reach out to me for help only when their problems become overwhelming. As long as there are no problems they think that all is good. Well, it’s not true.

We are all in business to achieve results. A business does not achieve results by solving problems; it does so by exploiting opportunities. Solving problems brings the business back to a normal state. Solving problems enables the business to function as it was meant to do.

Results come from exploiting opportunities. Consequently, resources must be allocated to opportunities, and not to problems.

Any new and existing business must focus on opportunities. Often, listening to our customers will point to these opportunities. Sometimes we can find opportunities by studying our competitors, and other times by studying those who are not consumers of our industry.

Searching out and finding an opportunity comes from being attentive to the market’s needs.  Making a meaningful contribution to that select market will lead to profits.