What commentators are saying about Nobody Else’s Business:
"This is all about planning and strategy from an expert Australian point of view. Ultimate ‘working on your business’ resource. "
Jackey Coyle, Inside Small Business magazine
“Nobody Else’s Business is the sort of book you’ll dip into time and again for practical advice that can be readily implemented. For those just starting up, it’s an invaluable guide; for more experienced hands, it’s a useful refresher that will still throw up new options and strategies, especially when preparing your business to “sell or close for a profit”. As a writer myself, I admire the way the authors eschew all but the essential jargon, making this a digestible – but still meaty – read.”
~ Lesley Parker, Contributor SMH/Age Money personal finance
What Financial Adviser’s are saying about Nobody Else’s Business:
So many of my business clients don’t think about how to protect themselves and ultimately profit from being in business. Nobody Else’s Business not only highlights the things that stand in their way, it also helped me identify how I can help them move past the roadblocks. I’ll be recommending it to all my business clients.”
~ Alex Cheng, Financial Adviser, Aon Hewitt Financial Advice
What Accountants are saying about Nobody Else’s Business:
“Pavuk and Boggs have advised many entrepreneurial businesses and find a consistent problem is that company principals often fail to structure their business for wealth generation. Put simply, many SME owners fail to pay themselves, so even if the business is doing well they have no reliable income.
The book offers advice on how to avoid this problem while setting aside funds for reinvestment and determining the best form of finance. There is also the issue of preparing for an eventual sale or succession.”
~Derek Parker, May 2013 issue of INTHEBLACK magazine.
What Experts are saying about Nobody Else’s Business:
“A good easy read that keeps things quite general. A must read for all business owners”
~ Dr. Michael Lawriwsky Adjunct Professor, La Trobe University; Director Pricewaterhouse Coopers LLP
"Excellent insights and wise words for advisors and their clients"
~ Bruce W Etherington, BA,CLU,CFP,CHFC, Bruce Etherington & Associates
nobody else's BUSINESS - Review
Reviewer: Jeff Walsburg
This is a simple book – that is not a put down but praise. For many of us, we started our businesses because of our passion for something which probably wasn’t business administration so a book that simplifies that aspect and gives us good strategies to pursue is to be welcomed. It follows what the author defines as the seven deadly sins of business – know your business; don’t suffocate your business; invest wisely; correctly finance your business; understand the risks to your business; prepare to exit your business; and plan to preserve your estate. As simple as those items sound understanding what makes them up and having a strategy for them requires knowledge which this book supplies at a basic level. It doesn’t supply “how to” knowledge; it supplies enough information to think through the basics and ask good questions of your advisors. I know that was what I lacked when I first started out – the knowledge to ask good questions.
Certainly one of the traps for many of us as we get older is not planning with the end in mind. We don’t look at how we will exit our businesses or preserve our estates. As the book says: “Depending on your business model and your timing requirements you will either: fund your retirement by regularly and correctly extracting profits from your business; prepare your business for sale and ultimately sell; or a bit of both. Whatever approach you take, to retire gracefully and successfully, you need a retirement succession strategy that articulates how it will all take place. The right retirement succession strategy for you depends on your particular circumstances, but whatever it is, it must be correctly funded, documented, monitored and reviewed.”
For me the best section and the section I wished I’d read before entering into a business was “Cash is King”. It gives an excellent overview of cash flow putting it into perspective with the balance sheet and profit & loss statement. In particular the parts on your business’s cash cycle and reporting were very useful.
If you are looking for detailed, in-depth knowledge in specific business aspects you are not going to find it in this book. In that regard the book makes no claim to being a business bible. It defines itself as a road map and that is an apt analogy. It gives you a set of strategies at each junction point with enough information to differentiate which may suit your business journey and that is all. However, as I’ve stated, that is precisely what those needing to understand business require in order to get effective help from their advisors.
Advanced business owners please take note: this may be an interesting read but is unlikely to advance your knowledge at all. If you’ve been in business a little while and feel you’re struggling this book may give you some avenues to pursue with your advisors but it doesn’t tell you how to do it yourself so you will be dependent upon your advisors knowledge.