Plan for the Future

There is a notion that business and sport’s are alike.  The first half of the game is like the initial phase of a business’ the owners and staff are enthusiastic about the prospects for success and throw themselves into the challenge of building a solid platform. At the half time break you review what you have achieved, in some cases there are real signs of success while in others there is the reality that to be successful requires more effort.

Then you come to the all important second half. The goal in this half is to achieve a better result than in the first, if you were successful you don’t want to loose this and if you had not yet achieved success then this is want you seek.

At GA Aged Care we see succession as the half time review (looking at what has been achieved and the weaknesses) and the second half game plan (what needs to come out on top).

The second half can involve a period up to 5 years. In this period we work with clients to clarify what an exit from the business involves and then assist then as they seek to make their second half better than the first.

The Aged Care Succession Game Plan is complex, and includes; ensuring your infrastructure meets market expectations, ensuring the management team can carry the business forward, ensuring profitability is appropriate to the operations and managing the obligations of the business.  Finally there is the succession process be that an internal transition or an outright exit.

The difference between a good succession and a poor one is measured in thousands of dollars per bed. To find out more how to achieve your future goals contact the Guild Accountants Aged Care Team on 1800 101 296 or email us at agedcare@guildaccountants.com.au