If you want real financial insights and a drought-proof plan that identifies outcomes and how you can achieve them for your family business, this tip is for you . . . .
Dibbo’s financial and agri-business reviews are structured and logical, but unlike some reviews that focus on the past and present, Dibbo takes this into consideration to deliver what’s needed in future.
The Dibbo Principle links everything together in the strongest plan – Start with the end goal in mind. A review that only tells you what happened in the past and where you are now has real limitations. Our reviews delve into each enterprise within your business to identify performance, measure against benchmarks, and provide predictions that help map out what the future might look like in an average year, a bad year or a good year.
Using benchmarking we can help you actively drought-proof your business as much as possible by identifying which areas of your business carry the most or least risk, and what the ‘breaking point’ of each is. Our track record shows that with a commitment towards a good plan, we can help you survive through extended drought and emerge from it in a position ready for growth.
We recognise that in a family business, it’s as much about the family as it is about the business, and often it is hard to distinguish between business goals and personal goals as they become intertwined in the family business. With that in mind, our reviews look at where your business is now and helps you aim towards where you want to be in the future.
A Blueprint for your business
Our reviews are primarily a tool to help you manage your business, and while they are written for you, their comprehensive nature makes them a powerful document to present to financiers, accountants, financial advisers, solicitors, agronomists and other professional services.
The clear forecasts show how your business will manage seasonal risks; where peak requirements will fall; maintenance and replacement schedules; future directions and succession aims; strengths and weaknesses, and how to maximise or mitigate their effect. They also identify crucial points of reference by highlighting matters for you to consult with other professionals about to ensure you are achieving efficiencies within your business while also provisioning for future plans.
Our reviews are a valuable business tool – a complete document with supporting evidence which can become your business blueprint. We help you bring together all the pieces of the puzzle that make up your business, including cashflow budget, contingency plans and succession and estate goals.
To help you make the most of your overall position, our comprehensive review documentation notes areas where we believe other professionals may need to be consulted and has relevance for a wide range of professionals, including accountants, financiers, solicitors, financial planners, marketers or agronomists.
Our review documentation is an invaluable resource when working on joint projects. It is a plan that backs up your goals and intentions with the evidence of how your business is performing alongside forecasts for future years.
For more information on how a review could help your family business, I invite you to contact me today.
This advice is provided by Phillip Dibben under Financial Services SA rural business consulting services.
Phillip Dibben is an MFAA Approved Credit Adviser, including SMSF lending, and is an Authorised Credit Representative with Riverland Lending Services Pty Ltd, ABN 37 1415 814 080 ACL 391835, and is licensed to provide advice in all consumer and business loans including equipment finance. All loans are subject to lending and approval criteria.
Phillip Dibben is also a financial adviser at Active Financial Management. Active Financial Management and its advisers are Authorised Representatives of Fortnum Private Wealth Pty Ltd ABN 54 139 889 535 AFSL 357306 trading as Fortnum Financial Advisers.
This information does not consider your personal circumstances (including taxation) and is of a general nature only. You should not act on the information provided without first obtaining advice specific to your circumstances.