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:

Continue reading...

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

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.

Continue reading...

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

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.

Continue reading...

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

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.

Continue reading...

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

What to include in an Annual Business Plan [video]

Posted by James Price | JPAbusiness on 25-Jul-2018 02:00:00

In this video I list four components of an annual business plan and drill down a little into some of the business issues you should cover under each of those four elements.

An annual business plan should encompass three core concepts:

  1. Where is the business now?
  2. Where do we want the business to be in the future?
  3. How are we going to marshal the resources we have and which we can influence to get there?
Continue reading...

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

4 components of a Strategic Plan [video]

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

A business' Strategic Plan establishes its strategic direction and will usually cover a period of one to five years.

I like a Strategic Plan to focus on a period of three years because, in today’s volatile world, things get a little hazy after three years.

In this video I list four key components of a Strategic Plan.

Continue reading...

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

Why does my business need a plan? [video]

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

As a business owner or senior manager, you can’t plan for every eventuality, but you can plan to withstand shocks. 

In this video I explain that business plans don't have to be excessively large or detailed, but they do need to exist in order to demonstrate your commitment to your business goals.

Continue reading...

Topics: Business Planning, Video, Advice, business management, Business advisor, James Price

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

Australian Economic Outlook – forecasts for 2018

Posted by James Price | JPAbusiness on 15-Nov-2017 04:33:00

Forecasts for the Australian economy in 2018 are cautiously optimistic, driven largely by improving global conditions but tempered by uncertainty around household consumption.

As reported in our Global Economic Outlook, the international economy appears to be improving and gaining momentum.

The ‘Advanced Economies’ group is experiencing cyclical recoveries, while the ‘Emerging Markets and Developing Economies’ group is benefiting from improving global demand and government spending.

Continue reading...

Topics: 2018, Advice, Business Planning, Business Value, Financial, forecast

Strategic planning – it doesn’t have to be so hard [blog]

Posted by James Price | JPAbusiness on 14-Jun-2017 05:04:00

When I speak to business owners about planning I find their eyes often glaze over or they break out in a cold sweat.

“Planning? Oh no!” they say. “Do we really need to talk about that? How will it make my business better?”

But planning doesn’t have to be an onerous task and it is very valuable.

I recently met with a new client to discuss the strategic planning program we are about to embark on with them.

Continue reading...

Topics: Business Planning, 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. 
 
 

 

JPAbusiness

Topic

more

Recent Posts