Russell Bowyer talks business with Alan Coute on Lets Talk Business Radio.
In the Lets Talk Business Radio podcast Russell talks about the effect that the economy and the media has on businesses. Russell and Alan discuss whether the media responsible for talking the economy down and making it more difficult for small businesses.
Russell talks about how to ignore what the media says.
Going back in time, Russell talks about buying his business back in 2010, when everything was difficult. It was a buyers market at the time, and at the time borrowed to buy the business.
Russell discussed in brief the checks to make when buying a business. Alan asks him what checks should be made and gives a few tips on the radio. Check the financial statements, has the business paid its taxes, cash in the bank, check debtors etc, are a few of the tips given.
Alan asks the question relating to never catching a falling knife…what nuggets can Russell give for buying a business? The best tip is to make sure the business you buy is about its brand or the name of the business, and not about the owner.
Russell also talks about his business software, and in particular Increase Profit Software and Cash Forecaster. He goes into a bit more detail on the Increase Profit Software, talking about how he helped a business at £50,000 to its bottom line using this software, by targeting the businesses average transaction value.