Craig West
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Articles by Craig West
Digitalisation must empower seafarers, not work without them
Shipping has no shortage of digital tools. Weather routing, voyage optimisation, performance monitoring and emissions reporting are moving quickly. But the measure of progress should not be how much technology can be placed around a vessel. Rather, it should be whether people onboard are given clearer information, faster support and greater confidence when decisions matter.
Forbes JAPAN 公式サイト（フォーブス ジャパン）
クレイグ・ウェスト博士はCapitalizの創業者であり、20年以上にわたって事業承継と出口戦略について事業オーナーと協働してきた。 私の経験では、ほとんどのオーナーは自分の事業から「出口」を望んでいるわけではない。彼らが望んでいるのは、後悔のない自由だ。 私は全米従業員所有センター（NCEO）のメンバーであり、ウィスコンシン州ミルウォーキーで開催された同組織の2026年年次総会で講演を行った。そこで、1つのメッセージが繰り返し浮かび上がってきた。それは、うまくいく出口は時間をかけて設計されるものであり、失敗する出口は事務手続きのように扱われるものだということだ。 以下は、私が持ち帰った最も有用な事業承継の教訓であり、出口戦略の実務を通じて学んだことを、1つの問いを通じて再構成したものだ。その問いとは、「勢い、文化、顧客、価値を失うことなく移転できる事業をどう構築するか」である。 「出口」をスケジュールするイベントではなく、構築する能力として扱え...
Forbes JAPAN 公式サイト（フォーブス ジャパン）
クレイグ・ウェスト博士はCapitalizの創業者であり、20年以上にわたって事業承継と出口戦略について事業オーナーと協働してきた。 ミドルマーケットのオーナーの多くは、収益性の高い事業を構築することには素晴らしい手腕を発揮するが、最も価値ある瞬間である事業の引き継ぎにおいては、偶然にも「行き当たりばったり」になってしまう。事業承継と出口戦略の計画とは、タイミング、健康状態、市場、家族からのプレッシャーに結果を委ねるのではなく、自らがその結果をコントロールし続けるための手段である。 これは単なる技術的な作業ではない。価値を保護し、選択肢を開いたままにし、事業に依存する全ての人々のリスクを軽減する商業戦略なのである。 事業承継と出口戦略の計画とは何か 事業承継と出口戦略の計画は密接に関連しているが、やや異なる問題を解決する。事業承継計画とは、あなたが退く際に誰が事業を運営するかについてのものである。リーダーシップの継続性、能力、そして次の人物またはチームへの信頼に焦点を当てる。...
4 Ways Baby Boomer Business Owners Are Retiring Differently
The average life expectancy of a U.S.-based Baby Boomer has extended drastically over the generation’s lifetime. The Social Security actuarial tables indicate that a 70-year-old today could live for another 15.4 years, versus what people lived to a century ago; in 1923, life expectancy was just 56 years of age. Put another way, many professionals never lived to retire. It makes sense that, back then, even before the start of Social Security, there wasn’t as much need for retirement planning.
What every business owner needs to know about succession planning
I recently completed doctoral research on succession planning. Yes, I dedicated seven years of my life to studying the ins and outs of what happens when a business owner decides to pass the torch. For me, the question of how to exit is the most important financial decision an owner will make, and I’ve built a business of helping other founders figure it out. Thanks to a TV show you may or may not have heard of, succession planning is having a moment.
WEBINAR: The 7 Critical Factors for Successful Succession - First 5000
Home / Business Exits / Succession and Exit / WEBINAR: The 7 Critical Factors for Successful Succession Craig West | May 19, 2023 Succession Planning is quite simple to describe as the combination of three things all happening at the same time. It’s about getting the business ready for a change of ownership or transition. It’s about getting the owner ready – partly psychology, partly financial. And essentially, it’s about getting your personal and family financial position ready.
Employee share ownership plan and why are they becoming so popular - First 5000
The ability to attract, retain, motivate and incentivise people to key performance is a major source of competitive advantage. Ask yourself, what incentives do I offer my high-performing employees? Using an equity-based employee incentive plan like an Employee Share Ownership Plan (ESOP) is your secret weapon to attracting, retaining and rewarding outstanding talent.
EVENT: Maximise the value of your business - First 5000
Every business owner should be looking for ways to maximise the value of their business and make sure it is exit/investment/sale ready. The team at Succession Plus in conjunction with First 5000 invites you to join us for an interactive seminar exploring the key drivers of business value acceleration – which levers can you pull and which ones make the most difference for your business in your circumstances.
Succession Plus partner with mid-market business alliance group First 5000
There were 2,248 press releases posted in the last 24 hours and 374,180 in the last 365 days. Mid-market advisory firm Succession Plus has announced a major partnership with First 5000 to support and promote mid-market business owners in Australia.
7 mistakes (or 7 critical success factors) for Successful Succession ( How to maximise the value of your business and achieve a successful exit ) - First 5000
Home / Business Exits / Succession and Exit / 7 mistakes (or 7 critical success factors) for Successful Succession ( How to maximise the value of your business and achieve a successful exit ) Craig West | February 17, 2023 Begin with the end in mind – good strategy takes time. Business Owners that begin early get a better result – every time. A typical business succession and exit will take at least 18 months and usually 3-5 years to get the best results.
Major partnership Solidified between Capitaliz Exit Planning Software and the Exit Planning Institute
Capitaliz Logo - powered by Succession Plus Capitaliz scoreboard screenshot Value potential screenshot Capitaliz Becomes an Endorsed Partner of Leading Exit Planning Group The addition of Capitaliz will allow all exit planning professionals access to a great partner, an excellent tool, and provide more collaborative opportunities and knowledge building” — Scott Snider President EPI SYDNEY, NSW, AUSTRALIA, November 9, 2022 / EINPresswire.com/ -- Capitaliz, a platform for private business...
Capitaliz joins NSW government Fintech and Insurtech to the United States of America program
Capitaliz Logo - powered by Succession Plus Capitaliz scoreboard screenshot The contacts and introductions will help us establish a US base and maximise the opportunities in the US” — Craig West SYDNEY, NSW, AUSTRALIA, September 4, 2022 / EINPresswire.com/ -- Capitaliz announced that it has been invited to join the 2022-23 NSW Going Global Export Program. This initiative will assist Capitaliz with scaling to the United States of America over the next four months.
Succession Plus have merged with Lachie McColl of Value ADE to launch SME Valuations Original
Lachie is well known as an expert in this area - we are very pleased to be working with him to build this new offering.” — Craig West, Succession Plus SYDNEY, NSW, AUSTRALIA, September 4, 2022 / EINPresswire.com/ -- Succession Plus has teamed up with Value ADE to launch “SME Valuations”, an independent and dedicated business valuations services for private businesses in Australia.
Succession and Exit planning platform Capitaliz appoints CEO and Non-Exec Director
Capitaliz Logo - powered by Succession Plus Capitaliz scoreboard screenshot Appointments coincide with Australia’s New South Wales Government selecting Capitaliz for the program exporting fintech to the US These key appointments will help get our digital platform in front of more advisors in North America to help their clients appropriately value their businesses and prepare them for exiting.”” — Craig West SYDNEY, NEW SOUTH WALES, AUSTRALIA, August 11, 2022 / EINPresswire.com/ -- Capitaliz,...
Capitaliz - finalist in the 2022 Australian Web Awards for innovation, as it launches in USA
Capitaliz Logo - powered by Succession Plus Value potential screenshot We are so pleased for the fantastic team at Juicebox who have magically turned our 21 step Business Succession and Exit planning IP into this amazing platform Capitaliz” — Craig West, Succession Plus SYDNEY, NSW, AUSTRALIA, April 25, 2022 / EINPresswire.com/ -- Australian Fintech platform Capitaliz has been announced as a finalist in the innovation category of the prestigious Australian Web Awards in the same week the...
Why have the government’s reforms to employee share schemes stalled?
Treasurer Josh Frydenberg. Source: AAP Image/Dean Lewins In the prevailing tight labour market where non-cash remuneration is a key tool employers can use to attract, retain and motivate key employees, the stalling of the federal government’s Employee Share Ownership Plan (ESOP) draft legislation, could not come at a worse time.
A 10-step strategy to making meetings more productive
Some meetings are a waste of time, but there are ways to make them more productive. Source: supplied. 4 minute Read Executive coach and psychologist Dr Karen Morley is an expert in achieving work-life balance, even in an ever-changing world. Her book, FlexAbility: How high achievers beat burnout and find freedom in an overworked world, was released late in January and does just as the title promises to do: help high achievers find balance.
Thinking of selling your business? Know your exit goal first
The New Year is a time of reflection, re-evaluation and resetting, both in our personal lives and at work. If you own a business, it’s often a time for reviewing the strategy that saw you through the last 12 months and making changes for the year ahead. And after the torrid couple of years we’ve all just experienced, some business owners may be asking themselves whether now is the right time to sell. If you’re in that situation, you’re not alone.
Proven strategies for finding and retaining advisers
You’ve seen the headlines and – if you own or manage an advice firm – you’re probably feeling it. The labour market is extremely tight. Wages are rapidly increasing and, due to border closures during the pandemic, there aren’t enough skilled workers to fill the roles.
How to better meet client expectations in 2022
One of the biggest changes emerging from the global pandemic has been to business operations, as an increasing number of workers worldwide embraced hybrid working environments. And as remote and hybrid work create less formal business environments, the lines between business-to-business (B2B) and business-to-consumer (B2C) experiences have blurred. As a result, there’s been a shift to a more personalised way of doing business and new trends for B2B customer experience have emerged.
Could they work for your business?
This guide breaks down everything you need to know about employee share schemes. Source: Unsplash/Redd 5U 9 minute Read Employee share schemes — or ESSs — are a legal arrangement set up by businesses to allow their employees to own equity in the business. They are also known as employee share ownership plans, employee equity plans, employee options plans and phantom share plans. They are suitable for small businesses through to the big end of town.
The five most common questions company directors ask
Cybersecurity has moved rapidly from the backrooms of the IT department into the boardroom, meaning company directors must be aware of their obligations when it comes to protecting the systems and data their organisations rely on. The scope is now significantly broader than corporate and customer information; it also includes risks with third party suppliers and an understanding of the threats within the wider landscape businesses operate in.
Are you a start-up founder with an employee share scheme? Read this
Are you a start-up founder who has implemented an employee share scheme (ESS) as a way to attract and retain key employees? There are new rules coming that could make it difficult for you to achieve that all-important second goal — employee retention — without proper planning when implementing an ESS. ESSs allow employees to own a share of the company they work for. They can be suitable for both private and public companies, large and small.
Digital finance is the future. Here's a guide to using crypto in business
We’re living in an era of financial innovation with the rise of cryptocurrencies. As traditional money digitally transforms, so will the future of finance in business and our daily lives. The adoption of digital assets is the next competitive advantage for your growing business, keeping you ahead for this new era of traditional finance.
My Adventurous Life: Dick Smith on business and being a daredevil
Dick Smith is a household name for many Australians; a name synonymous with true, Aussie business. And while many know of his successful business ventures, there’s still a lot of things Australians don’t know about Dick Smith: like his endless quest for adventure and philanthropic efforts. He’s had an extraordinary run, which he conchrincles in his aptly named memoir: My Adventurous Life.
A fair share - Inside Small Business
Busting common myths around employee share ownership plans. While employee share ownership plans (ESOPs) have been around in Australia for several decades, they are often misunderstood and underutilised by small businesses. Most listed companies have them because they can be a handy vehicle for attracting, retaining and motivating top talent. ESOPs can also serve as an important mechanism for business succession.
How Mustard Made's founders created a multimillion-dollar business
The COVID-19 pandemic has proven beyond doubt that business can be done, and done well, from anywhere. The mass shift to remote work was a forced change for many, and the move back towards a hybrid model is still a work in progress, but many have already begun to excel at working in different locations and at different times. Yet some businesses have always done things this way. For them, asynchronous work is the norm, digital collaboration tools the bedrock.
She's on the Money host Victoria Devine explains when and where you should invest
Victoria Devine is a financial advisor and the founder and host of the personal finance podcast, She’s on the Money. Passionate about empowering women to make smart money decisions, Devine compiled her expert advice into a physical, accessible guide through the release of her debut book earlier this year.
New ESOP recommendations remove barriers for small business
In August, the House of Representatives Standing Committee on Tax and Revenue tabled its Owning a Share of Your Work: Tax Treatment of Employee Share Schemes report, recommending changes that have key implications for the small businesses considering an Employee Share Ownership Plan (ESOP). An ESOP is a mechanism to allow employees to own a share of the company they work for. They can be suitable for both private and public companies, large and small.
When Molnar met Eisen: The story of Afterpay
Journalists Jonathan Shapiro and James Eyers’ new book about Afterpay covers how co-founders Nick Molnar and Anthony Eisen built one of Australia’s most iconic startups of the 21st century. Buy now, pay later: The extraordinary story of Afterpay, has just been released, coinciding with Afterpay’s announcement that it will be acquired by Square, the payments giant headed up by Twitter founder Jack Dorsey, in a deal worth US$29 billion ($39 billion).
Set up for success: The morning routines of 14 Australian entrepreneurs
What are the habits of successful entrepreneurs? And why should you care? In Holly Ransom’s new book, The Leading Edge, she shares the reason why she invites as many people as she can out for coffee. Drawing on a lesson she learnt during a leadership program, to “copy genius”, Ransom makes a point of reaching out to people who she believes she can learn from, and then listens. As Ransom explains: “There are natural laws of human behaviour that govern decision-making, motivation, and results.
How Sadhana Smiles mastered the system, and made it work for her
Each year, Sadhana Smiles does a business plan for her life, as well as her business. She sticks the plan to her shower wall as a way to stay connected to her goals. A trailblazer in the Australian real estate industry, Smiles has previously led Harcourts Victoria as CEO and been the global chief executive of property management for Harcourts International.
The secret sauce of Netflix: No Rules Rules
Traditionally, as a startup grows, so does its culture. A successful tight knit group eventually grows to dozen people, then a larger team. With more people to manage, the organisation begins enforcing more rules, processes, and policies. Dress policy, leave policy, and a policy on travel and expenses. This is the traditional progression for almost every company. It’s what we understand as the sensible way of running a business.
The branding secrets behind booze-free beer business Heaps Normal
In the simplest terms, Heaps Normal is an alcohol-free beer brand. It launched last year with its Quiet XPA product — which has alcohol volume of 0.5% — and has recently unveiled its new Isol-Aid Haze IPA, in collaboration with Melbourne bottleshop chain Blackhearts & Sparrows and online music festival Isol-Aid. But take one look at the ads, the social presence and the community that rallies around this business, and it’s clear this is more than another option for designated drivers.
My biggest mistake: Samantha Wills, founder of Samantha Wills Jewellery
Moving too far away from your brand identity too quickly can cause a disconnect between how you see your business, and how your customers perceive it. For creative designer and entrepreneur Samantha Wills, the biggest mistake she made while running her self-titled jewellery business was an attempt to mimic the design of the higher-end brands being stocked by luxury, tier-one retailers.Wills closed her $10 million business in 2018, and released a memoir on her experiences early this year.
“A very personal experience”: How Bed Threads grew its email database to over 300,000 in four years
Email remains one of the most powerful marketing tools at a brand’s disposal. When working in harmony with other elements of the marketing mix, email can be a potent source of sales; an intimate and personalised conversation with existing and new customers, who want to hear from you. Crucially, a healthy email database is an owned business asset and arguably more valuable than any social media following, regardless of its size.
Mark Bouris led a coup and won a business. Now, he has regrets
Below is an extract from Mark Bouris’ latest book, Rise: How YOU can succeed in business, in your career, and in life, which covers the lessons he’s learnt from growing up in Punchbowl, Western Sydney, and founding one of the most disruptive financial services companies in Australia.
Naomi Simson and David Anderson
Even Naomi Simson makes mistakes in business. In fact, she says any entrepreneur who doesn’t admit to the odd slip up is lying. For her, failing to have a difficult conversation about governance in the very early days of RedBalloon came back to bite her. Here’s what happened, and how Simson and Big Red Group co-founder David Anderson got the business back on course. The mistake Simson made her biggest mistake early on in her business journey, and only realised the gravity of it much later.
Forget 10,000 hours on one skill. According to David Epstein, range is the key to success
It’s likely you’ve heard of the 10,000-hour rule. Popularised by Malcom Gladwell in his bestseller book Outliers, the rule states that anyone who engages in deliberate practice of any skill or specialty for a total of 10,000 hours will become an expert in that field. It’s the rule that taught us that the key to success is specialising as early as possible and dedicating thousands of hours to one field. But this is completely wrong.
What are NFTs and why are they becoming so popular?
You’ve probably seen NFTs in news headlines, as pieces of digital art being sold for what seem like outlandish sums. Trading on the blockchain, it’s the latest craze for those in the tech space, creating what looks like a speculative asset bubble. As records are broken on a daily basis in the NFT marketplace, it’s feeling a bit like the early Bitcoin hype, as fear-of-missing-out drives big booms.
My biggest mistake: Jane Lu, founder of Showpo
Showpo founder Jane Lu learnt an important lesson after moving her fast-growing e-commerce business to a new location closer to her competitors. Lu shares what happened, how it affected sales and what she did next. The mistake Six years ago, Lu and her team moved into new offices in Surry Hills in Sydney’s ragtrader district. The new location seemed like it would be an “obvious win”, says the founder, as the idea was to be closer to some of Showpo’s suppliers and in the mix with other retailers.
Junkee founder Tim Duggan shows us how to achieve cult status
Tim Duggan’s Cult Status is a literary roadmap for prospective entrepreneurs seeking to navigate and make an impact in today’s business climate. Cult Status takes incredibly complex and nuanced concepts and distills them into seven simple and cleverly communicated steps. These seven steps provide guiding principles for all entrepreneurs to create a meaningful “cult status” brand.
Passion. Purpose. Profit by Fiona Killackey
You can’t build a business you love (and that is successful) without first understanding where your business is right now. In this exclusive extract from her book Passion. Purpose. Profit, small business expert Fiona Killackey shows you how to work out exactly what is, and isn’t, working in your business. I’m showing my age here, but I finished prep (i.e. the first year of primary/elementary school) in 1985.
United Announces CRJ550 Routes
Photo: Bombardier Chicago-based carrier, United Airlines has revealed details of the initial routes it plans to serve using its new Bombardier CRJ550. The new variant – which was launched in February 2019 – will be operated under the United Express brand by Go Jet Airlines. The airline took delivery of its first example, N536GJ (c/n 10224) in late August, and since then has accepted two further aircraft, N543GJ (c/n 10256) and N538GJ (c/n 10254) into its fleet.
Airbus Marks 1000th A320neo
Photo: Airbus European aerospace giant Airbus has celebrated the delivery of the 1000th airframe of its A320neo Family. The aircraft, VT-IUH (c/n 8968) was produced at the firm’s Hamburg facility before being delivered to IndiGo’s base at Delhi/Indira Gandhi International. Equipped with two Pratt & Whitney PW1000G engines, the type was designed with fuel efficiency in mind, offering a 20% reduction in fuel burn compared to previous generation examples.
Qatar Airways to Return to Osaka
Photo: Gerard van der Schaaf/Wikimedia Commons Qatar Airways has announced plans to link its Doha hub with Osaka/Kansai. The direct non-stop routing is scheduled to begin on April 6, 2020 and will mark the carrier’s third Japanese destination. While billed as a ‘new’ route, readers may recall that the Qatari airline served the city until spring 2016 using Airbus A330 examples.
Airbus: 39,000 New Aircraft and 550,000 Pilots Needed
Photo: Airbus Airbus has published findings suggesting that the world’s passenger and freight fleet is set to more than double over the coming two decades. The conclusions are contained within its Global Market Forecast (GMF), with the report stating that the number of commercial aircraft will rise from nearly 23,000 today to almost 47,680 by 2038. It further estimates that on top of the 8,470 examples already in service today, a further 39,210 will need to be built.
Air France to Cut Domestic Network as Competition Grows
Photo: Photo: Air France Air France has outlined plans to help fend off competition from high-speed rail and low-cost carriers within its home market. The airline said the financial situation of its domestic operations has “deteriorated significantly”, and revealed that since 2013, cumulative losses within the division have amounted to €717m (£626m).
Aer Lingus Reveals “New Premium Travel Experience”
Photo: (Photo: Aer Lingus) Irish flag carrier Aer Lingus has announced the launch of AerSpace, a new fare option which promises short-haul guests a “premium travel experience”. From September 1, passengers flying to select destinations across the UK and Europe will be guaranteed an aisle or window seat on the first row of the aircraft with the middle seat left unoccupied. Visually, this is likely to offer a similar setup to Club Europe on board Aer Lingus’ IAG stablemate, British Airways.
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