Excelerator Terms and Conditions

  

The Excelerator Terms and Conditions

The following page sets out the steps and some typical terms and conditions of aa Excelerator program. These may be negotiated and changed as agreed between the parties.

 

The Business Success Review

Not every business is a suitable candidate for Excelerator and the program is only offered to strictly qualified businesses. Until we fully understand the potential and key drivers of the business we cannot offer an Excelerator program.

 

A preliminary Business Success Review is undertaken to assess the suitability of the business for the Excelerator program and also the Excelerator program’s suitability for the business.

 

This important preliminary exercise will determine the likely success and potential return on investment for all parties.

 

There are four elements to the Business Success Review:

 

1. Financial Modelling

Businesses undergo comprehensive Financial Modeling which identifies the key financial drivers of the business, its options and the growth potential of the business. The Financial Modeling will also determine the affordability and suitability of the business for the Excelerator program. Recent financial statements and records will be required and examined.

 

The Financial Model is produced by Ivan Anzanello of Collins  and Co., Accountants and Financial Advisors. (P: 9689 8600)

 

2. Success Strategies 

 

Each business is different and their business growth potential, strategies and requirements will vary. Success Strategies and an Actipn Plan will be produced which examines the liklihood of success and the potential major business growth strategies and a recommended Business Action Plan required to fast track business success. 

 

The Success Strategies are produced and collated by Gary Copolov of Gold Medal Marketing.

 

3. Personal Analysis

The Excelerator program is suitable for business owners with a passionate self belief and the dedication and aptitude to succeed.

A comprehensive, Extended Disc Personality Style Analysis is required to be undertaken which will provide an understanding  of the way your behavioural characteristics are likely to impact on the business, its management, leadership, decision making, customer service, brand personality and more. The Personal Analysis will identify the areas where the greatest gains may be achieved in the shortest time and the best way that the Excelerator team may be of support and assistance. The simple online questionnaire takes about 10 minutes to complete and an access password code is required.

 

The cost of the Personal Analysis is $250 plus GST.

 

The Personal Analysis provided by Glenn Mansfield of Non Executive Management (NEM). (P: 9809 8825 E: g lennm@nem.net.au ).
 
4. The Business Success Review Fee 

 

A nominal fee of $3,000 + GST is charged for the provision of the Business Success Review. Half is due on commencement with the balance due on completion. The balance will be waived if an Excelerator program is undertaken. The is no charge for a Business Success Review requested by Business Idol winners.

 

The Business Success Review is a valuable exercise which will provide important insights irrespective of whether an Excelerator program is undertaken.

 

Excelerator will accelerate your business success and your satisfaction is guaranteed.  Just ask the Excelerator team's many satisfied clients about the outstanding results they have achieved.

 

Should the Business Success Review prove positive and the parties wish to proceed further an Excelerator Agreement will be drafted.

 

 

The Excelerator Agreement

The terms and condition of the Excelerator program are detailed and documented in the Excelerator Agreement. A draft of the proposed Excelerator Agreement will be provided, negotiated, agreed and signed by all parties prior to the commencement of the Excelerator program.

 

There is no charge for the preparation of the Excelerator Agreement.

 

Scope of Works

A documented Scope of Works is provided which details the content and costs of an Exceleartor program. The Scope of Works forms part of the Excelerator Agreement. Each member of an Excelerator team documents their proposed Scope of Works. During the Excelertor program should less time be involved in delivering the Scope of Works than anticipated then the monthly Excelerator fee charged shall be reduced accordingly on a pro rata basis.

 

There is no charge for the preparation of the Scope of Works.

 

Our Mutual Obligations

There are various agreed mutual obligations for the Excelerator team and the business under the Excelerator Agreement.

 

The Excelerator program and the Excelerator team members will:
1. Provide a team of business development professionals who will drive and deliver a business development program.
2. Produce a documented business development plan (BDP).
3. Attend monthly business development meetings. (BDM’S)
4. Implement required actions as agreed at the business development meetings.
5. Provide services, consultancy and advice as and when required.
6. Attend meetings with and for the business as agreed.
7. Deliver on the services as specified in the Scope of Works.
8. Adhere to the terms and conditions in the Excelerator agreement.

 

The business will:
1. Provide business development plan input and assistance.
2. Provide business development plan implementation assistance and support.
3. Undertake and pay for such services as required and agreed.
4. Attend such meetings as may be required and agreed.
5. Pay the monthly Excelerator fees as agreed.
6. Pay the Success Fees as agreed.
7. Pay any "out of pocket" expenses as incurred.
8. Provide any interest/s in the business as agreed.
9. Adhere to the terms and conditions of the Excelerator agreement.

 

Milestone Agreement

In the event of a successful relationship between the parties the parties may wish to further strengthen their relationship by entering into a formal Milestone Agreement. The milestone agreement may offer a package of ancillary equity, options or other benefits to Excelerator team members on the achievement of specified objectives.

 

Retainer Fees

At the conclusion of the Excelerator program the business may wish for the Excelerator team to members to provide ongoing services under an agreed retainer. These services shall be provided as agreed and shall be subject to the previous terms and conditions of the Excelerator Agreement.

 

Investing for Growth

It is stronly encouraged and budgetted that a minimum Marketing and Promotional Budget of between 1.5% to 2.5% of annual gross revenue should be budgeted to develop and implement the proposed business development plan.

 

Delivery

Delivery of the Excelerator program is facilitated by Excelerator Convenor representing the Excelerator team members. Each Excelerator team member is responsible to deliver their requirements under the Excelerator agreement.

 

Intellectual Property

Under the Excelerator Agreement the business and the Excelerator team members agree to combine their expertise and Intellectual Property.

 

The business shall own the intellectual property in the business and the business concept and shall be responsible to register and protect the intellectual property in the business and the business concepts.

 

The Excelerator Convenor representing the Excelerator team members shall own the intellectual property and copyright in the Excelerator program and the ideas, concepts, materials and software provided to the business during the Excelerator program.

 

Under the Excelerator program the business is effectively granted a "license" to use the ideas, concepts, materials, web site source code, and software provided by the Excelerator team during the period of the Excelerator program.

 

Review

A review of the Excelerator program’s and the Excelerator team member/s performance shall be undertaken by the client after one (1) month of the commencement of the Excelerator program at which time the business may make any changes as agreed or may invoke the termination clauses. Reviews are held annually.

 

 

Termination

The Excelerator program may be suspended or terminated under various conditions as specified in the Excelerator Agreement such as non performance, non achievement or non compliance.

 

Upon termination the monthly Excelerator fees shall be paid pro rata for the services provided to the date of termination. A terminated Excelerator team member/s shall be continue to be entitles paid any Success Fees or commissions which were due at the time of termination.

 

Confidentiality

Excelerator team members are required to treat as confidential the existence and nature of the Excelerator program and business relationship with the business and shall ensure that facts, secrets and plans concerning the business are not passed on to any third party without prior agreement.

 

Conflicts of Interest

All Excelerator team members are required to avoid and/or declare any possible conflicts of interest throughout the duration of the Excelerator program.

 

Limitation on Liability

The Excelerator Convenor and Excelerator team members shall have limited liability to the business for any loss or damages arising during the Excelerator program.

 
Good Faith

The business and the Excelerator team members recognize that any agreement cannot foresee all possible situations and circumstances but agree to address any issues at the business development meetings. All parties are required to act in good faith at all times in regards to each other.

 

The business and Excelerator team members agree at all times to undertake their responsibilities in good faith and in a proper, timely and professional manner.

 

Relationship of the Parties

The relationship between the business and the Excelerator team member/s is based in contract.

The Excelerator team member/s are not, and nothing in the Excelerator agreement will be taken as making the Excelerator team member/s, an employee, partner or director of the business.

 

Satisfaction Guarantee

The businesses satisfaction with the Excelerator program is guaranteed.

 

A complete review of workload and performance of the Excelerator team shall be held after the first month to ensure mutual satisfaction with the proposed arrangements, whereupon any adjustments shall be made as mutually agreed. If, for any reason, the business does not wish to continue with the Excelerator program after the initial month then the Excelerator program shall be concluded and only the first months Excelerator fee shall be charged.