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    Tips to manage business debt

    Posted by James Price | JPAbusiness on 12-Sep-2018 02:00:00

    'Low debt' was one of the top 3 positive impacts on business performance identified by respondents to our recent surveyIn fact, over 40% of respondents cited maintaining a low debt as a key element of their positive business performance.

    One of the focus areas for business owners to drive their business forward is maintaining an awareness of their capital base and liquidity for working capital and investment purposes. Critical to this is maintaining a strong cash flow.

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    Topics: Cash flow, Working capital, business advice, Business advisor, survey results

    Confidence softens in second JPAbusiness survey: results

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

    Almost 54% of respondents to our July survey indicated they were ‘confident’ about trading conditions heading into the 2018/19 financial year, while 47% indicated current trading conditions were ‘positive’.

    The results indicate a softening in business confidence among respondents since our first survey in December 2017, when the results were 60% and 59%, respectively, for those two questions.

    The results also appear to be in line with the NAB business confidence index, which dropped from a high of 12 in January to an 18-month low of 6 in June, before edging up to 7 in July.

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    Topics: Business Planning, Banks and lending, staff management, business advice, Business advisor, business confidence survey

    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, staff management, Business advisor, hiring staff

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

    How to calculate your Inventory Turnover Ratio [infographic]

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

    The first step in determining the correct stock holding for your business is to understand your current Inventory Turnover Ratio (ITR) i.e. your stock turn.

    As a rule of thumb, a stock holding that represents 12 months worth of sales is the maximum needed. However, it’s very hard to generalise.

    Some businesses are import oriented so need to commit to a certain level of stock to ensure their freight rate is not exorbitant and/or they have sufficient stock ordered from a single season pre-order. This may cause lumps in their stock holdings.

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    Topics: Cash flow, Working capital, Inventory, infographic, business advice, Business advisor, inventory turnover ratio

    How to bring in a new shareholder [cheat sheet]

    Posted by James Price | JPAbusiness on 22-Aug-2018 02:00:00

    There are 2 key issues to consider when taking on a new partner or shareholder:

    1. How to establish the shareholding for the incoming investor
    2. How to manage the shareholder relationships.

    The following cheat sheet sets out some of the questions you need to consider to ensure your agreement is well thought out and the shareholder relationships are well managed. 

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    Topics: Shareholders, cheat sheet, business advice, Business advisor

    What is 'multiple of earnings'?

    Posted by James Price | JPAbusiness on 15-Aug-2018 02:00:00

    Business purchasers want to know: If I buy a business today, how long will it take me to get my money back? 

    Remember, the purchaser doesn’t want to pay for opportunity that they create in the future. They only want to pay for what has been built up by the vendor.

    In the small- to medium-sized business market, purchasers are generally looking from one, to four and a half years, to recover the money they’ve invested.

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    Topics: Valuations, business advice, Business valuation, Business advisor

    How often should I review my business plans? [video]

    Posted by James Price | JPAbusiness on 08-Aug-2018 02:00:00

    In this video I give my view on how often you should review your business plans and, importantly, who they need to be shared with.

    Sharing a plan with your team will:

    • ensure goal alignment
    • help create a positive and participative business culture
    • test the plan by exposing it to fresh eyes.

    As we always say, a good plan is a shared plan.

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    Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning

    What is 'strategic' value when selling a business?

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

    Strategic value is the value a purchaser is willing to pay for a business, over and above what an impartial business valuer might determine is fair market value’.

    So how much more than its fair market value will a purchaser pay for a business with strategic value?

    The answer is largely determined by the potential purchasers’ individual circumstances, which impact their appetite for the opportunity, but it can also be influenced by the vendor’s management decisions long before sale time.

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    Topics: Selling your business, strategic value, selling a business, Business advisor, business valuer

    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, Advice, Family business, Exiting your business, Business advisor, cartoon

     
    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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