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    5 first steps to buying a business [video]

    Posted by James Price | JPAbusiness on 18-Apr-2018 02:00:00

    Every business is different, but in this video I'm sharing 5 'first steps', or tips, which we think are useful when buying any business.

    Following these steps will help you take a planned approach to what may well be one of the biggest financial investments of your life.

    They're each important in their own way, but I must admit Tip 2 – 'Have passion for the opportunity' – is a key one for me.

    Owning a business can be difficult at times, but it's easier to withstand those challenges if you have a 'fire in your belly' for what you do.

    Continue reading...

    Topics: Buying a business, Video, business advice, Business advisor

    How to avoid losing key staff when you buy a business

    Posted by James Price | JPAbusiness on 18-Apr-2018 02:00:00

    In our experience, the risks associated with business purchases fall into three categories:

    1. People
    2. Customers, suppliers and market dynamics
    3. The value exchange.

    In this blog we're going to examine how to manage the 'people risks' of a purchase.

    Continue reading...

    Topics: Buying a business, business advice, Business advisor, business management

    How to improve cash flow with suppliers [video]

    Posted by James Price | JPAbusiness on 11-Apr-2018 02:00:00

    Cash flow is the lifeblood of a business.

    Cash flow has always been important, but it has become even more so in a post-GFC world.

    Money was hard to come by during the global financial crisis, so smart companies looked at their total business operations and asked ‘where do I have money tied up that I can use more efficiently?’

    In this video I'm focusing on how you can improve your cash flow through your dealings with suppliers.

    Continue reading...

    Topics: Cash flow, Video, business advice, managing suppliers

    How to plan when you hate planning [cheat sheet]

    Posted by James Price | JPAbusiness on 11-Apr-2018 02:00:00

    If you’ve been reading my blogs for a while now, you know I love a well-written business plan.

    I encourage my business advisory clients to write things down, even in a summary sense, because it’s a good way of pressure testing your objectives and communicating them to your team.

    Despite my penchant for written plans, I do know successful business owners who don’t write things down and still manage to be supreme at operational and business planning.

    They do, however, employ a number of other important techniques, some of which we’ve summarised in the following cheat sheet.

    Continue reading...

    Topics: Business Planning, business advice

    How to sell a business online without sharing too much

    Posted by James Price | JPAbusiness on 04-Apr-2018 02:00:00

    You’ll often hear the internet gurus say ‘content is king’ and that in order to be successful in the online sphere you have to share lots of relevant content.

    For some traditional business sellers, online marketing feels like the equivalent of walking around naked in public – you’ve got to show everything!

    This presents a real conundrum for business sellers because, as many of our clients know, being in business can involve dealing with commercially sensitive information.

    Continue reading...

    Topics: Digital marketing, Selling your business, Online, Advice, Exiting your business, business advice, selling a business, business broker

    How poor information hurts a business sale [infographic]

    Posted by James Price | JPAbusiness on 04-Apr-2018 02:00:00

    When selling your business, it's important to put yourself in the position of a buyer.

    Ask yourself: 'If I was considering buying this business, what would I want – and need – to know in order to make an informed decision about the opportunity?'

    As advisors, we understand that good information on a business opportunity is critical to a successful sale.

    Continue reading...

    Topics: Selling your business, business advice, Business selling, business broker

    Cheat sheet – How to develop a high-performing team

    Posted by James Price | JPAbusiness on 28-Mar-2018 02:00:00

    The JPAbusiness Staff Management Cheat Sheet is designed to assist you, as an owner or senior manager, to get the most from staff by helping you to manage positively and proactively.

    The cheat sheet contains 6 staff management themes which you need to keep in mind – and act on – as you go about your day-to-day activities.

    Continue reading...

    Topics: Employment and recruitment, Advice, Running your business, cheat sheet, staff management, business advice

    How to improve cash flow with customers [video]

    Posted by James Price | JPAbusiness on 28-Mar-2018 02:00:00

    We often come across cash flow issues when working with new business advisory clients or conducting business valuations.

    The issues are generally related to two main areas of the business: customers and suppliers.

    In this video I'm sharing some advice on how to better manage those cash flow issues that relate to customers.

    Continue reading...

    Topics: Business Value, Cash flow, business advice

    Should I buy a franchise? [blog]

    Posted by James Price | JPAbusiness on 21-Mar-2018 02:00:00

    I read with interest a recent Sydney Morning Herald article about franchising and the questionable activities of some of Australia’s largest franchising groups.

    Some very disgruntled franchisees were represented in the article, which also contained views on the pros and cons of the franchise model.

    The story reinforced some of my long-held beliefs about franchising, namely that the model sets up an environment perfect for conflict: a franchise is about doing it the franchisor’s way, not necessarily about doing what makes good, solid business sense.

    Continue reading...

    Topics: Buying a business, Franchises, business advice, buying a franchise

    Tips for successful outsourcing [cheat sheet]

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

    Outsourcing is hardly a new phenomenon in business, but globalisation and technological advances have made it a much more common one.

    Many small to medium-sized enterprises – including my own – have a ‘virtual team’ of service providers who work in concert with the regular team of in-office staff members.

    We have created the following cheat sheet based on our experience and that of our clients who also have valuable outsourcing partnerships.

    Continue reading...

    Topics: Free download, Advice, Staff, Running your business, cheat sheet, outsourcing, business advice

     
    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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