How to create a business plan in 3 steps

Posted by James Price | JPAbusiness on 14-Nov-2018 02:00:00

Business plans don't need to be weighty documents, but they do need to be:

  • referenced regularly,
  • shared with others, and 
  • pressure tested.

The following graphic illustrates the 3 fundamental components of an annual business planning process:

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Topics: Business Planning, Running your business, Starting a business, Advice, infographic

How to avoid real estate traps when buying a business [cartoon]

Posted by James Price | JPAbusiness on 17-Oct-2018 02:00:00

Businesses – particularly family businesses – often use real estate assets as part of their wealth generation strategy.

This may lead to situations where the business and real estate assets are interdependent, creating complexities when it comes time to exit and establish a fair market valuation.

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Topics: Family business, Business Value, Selling your business, Buying a business, Starting a business, Advice, Valuations, cartoon

How to transfer business ownership [cheat sheet]

Posted by James Price | JPAbusiness on 17-Oct-2018 02:00:00

There are many issues vendors need to deal with in the lead-up to a business sale settlement, from staff contracts and entitlements, right through to P&E roadworthiness certificates.

When selling – or buying – a business, the last thing you want is a handover in which business performance is negatively impacted by transfer issues not planned out ahead of time and dealt with appropriately.

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Topics: Selling your business, Advice, selling a business, Buying a business, Business transfer, cheat sheet

10 do’s and don’ts when selling a business [infographic]

Posted by James Price | JPAbusiness on 10-Oct-2018 02:00:00

Planning, professional marketing, timing and finding the right match regarding value and terms are just some of the ingredients that go to making a successful business sale. (As we often say, selling a business is not an exact science!)

The following infographic is a distillation of lessons we've learned over many years of advising business sale clients.

Use these tips to help you make the right decisions when preparing your business for sale.

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Topics: Selling your business, Advice, infographic, selling a business, Business Planning

How long will it take to exit my business? [video]

Posted by James Price | JPAbusiness on 10-Oct-2018 02:00:00

At JPAbusiness we believe five years is a good benchmark to be planning for succession and exit.

In this video I use the example of a JPAbusiness client to show how this forward planning can place your business in the best position for a successful exit, whether that exit comes in the form of a planned sale process or an unexpected purchase offer.

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Topics: Exiting your business, Succession planning, Advice, Video

How to use valuation as a management tool [video]

Posted by James Price | JPAbusiness on 03-Oct-2018 02:00:00

Don't wait until someone offers to buy your business to seek a business valuation or market appraisal.

Valuations are extremely useful management tools for business owners looking to maximise their current business performance and long-term value.

A valuation can help you identify what you are currently doing that is adding to your business value, and what you are doing that is detracting from value.

My advice is that, if your business is greater than five years old, you should have it valued on a reasonably regular basis.

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Topics: Valuations, Business Value, Advice, Video, business advice, market appraisal, business management

5 lessons from a startup

Posted by James Price | JPAbusiness on 03-Oct-2018 02:00:00

I started JPAbusiness about 17 years ago, after spending 10 years in the employed workforce.

I was strongly motivated to create something of my own and I had clear goals of what I wanted to achieve. However, it certainly wasn’t plain sailing, especially at the beginning. 

The following are five things I felt in the first six to 12 months of starting JPAbusiness. I’m sharing them to illustrate that even if you are ‘the right fit’ for business ownership, you shouldn’t expect it to be easy.

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Topics: Skills and knowledge, Starting a business, Buying a business, Advice, business advice, start-up

7 tips for successful hiring [cheat sheet]

Posted by James Price | JPAbusiness on 05-Sep-2018 02:00:00

Great staff are critical to our success as business owners and managers but, as our recent survey found, finding and keeping the right people is an ongoing challenge for many businesses.

One-third of our survey respondents indicated the biggest challenge impacting their business in the past six months had been 'finding and retaining good employees'.

Unfortunately we can't conjure appropriately trained staff out of the air for our clients and subscribers, but we can provide advice to make the recruitment process as successful as possible.

The following cheat sheet contains our 7 'golden rules' for successful hiring.

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Topics: Employment and recruitment, Advice, cheat sheet, Business advisor, hiring staff, staff management

How to develop a successful brand [cheat sheet]

Posted by James Price | JPAbusiness on 29-Aug-2018 02:00:00

A few years ago we were delighted to partner with Richard Amos and Mike Wilkinson from Royce Communications to create one of our most popular eBooks: Brand and Corporate Identity for Small to Mid-Sized Businesses.

Royce Communications works with some of Australia’s largest brands across corporate, consumer, government and not-for-profit sectors.

In this cheat sheet we have distilled some of Richard and Mike’s valuable tips for establishing and maintaining a successful brand identity.

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Topics: Brand and marketing, Running your business, Advice, cheat sheet, Business advisor, business advice, brand identity

How to prepare your business for sale [cartoon]

Posted by James Price | JPAbusiness on 01-Aug-2018 02:00:00

Ideally, a business will be set up for sale from the moment it begins operating.

After all, you never know when someone may approach you about buying your business, or when unforeseen circumstances may force you to sell.

A previous JPAbusiness client is a good example of why it pays to be prepared. 

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Topics: Selling your business, Exiting your business, Advice, Family business, cartoon, Business advisor

 
Disclaimer: The information contained in this blog is general in nature and should not be taken as personal, professional advice. Readers should make their own inquiries and obtain independent, professional advice before making any decisions, taking any action or relying on any information in this blog. 
 
 

 

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