When is a good time to sell or exit your business? [video]

Posted by James Price | JPAbusiness on 20-Feb-2019 02:00:00

 

Seeking to exit a business just a few weeks or months after making the decision to do so, is not the best way to optimise value in a business sale.

As I explain in this video, it’s much wiser to incorporate exit and succession plans into your ongoing business planning and prepare for a sale over a period of several years.

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Topics: Business Value, Exiting your business, Selling your business, Video, business advice, Parramatta, Orange NSW, Business advisor, selling a business

Thinking about selling? Use our Selling a Business Planning Sheet [template]

Posted by James Price | JPAbusiness on 20-Feb-2019 02:00:00

Selling a business is a massive undertaking and not one to be entered into lightly.

We created our free Selling a Business Planning Sheet as a ‘first step’ resource for business owners thinking about selling.

The template contains 20 questions designed to prompt you to undertake the necessary thinking, planning and acting that will ensure you and your business are well prepared for the sale process.

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Topics: selling a business, business advice, Business advisor, Business Value, Template, Orange NSW, Parramatta

How to use our Buying a Business Planning Sheet [template]

Posted by James Price | JPAbusiness on 13-Feb-2019 02:00:00

There are plenty of good businesses out there, but the key to a successful business purchase is finding a business that will be ‘good’ for you.

Our Buying a Business Planning Sheet is designed to help you find a business that is the right fit for your requirements and risk profile.

When assessing different businesses, the planning sheet prompts you to consider 15 questions, including:

  • Why will you succeed in this business?
  • How does the asking price compare to a market appraisal of recent sales and market trends?
  • Do you fully understand the requirements of the lease relating to your potential business purchase?

If you are considering buying a business, download the free template and work through the questions as a way of bringing some rigour and structure to your preliminary planning.

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Topics: Buying a business, business advice, Business valuation, valuing a business, Template

Western Sydney new frontier for JPAbusiness

Posted by James Price | JPAbusiness on 13-Feb-2019 02:00:00

The JPAbusiness team is excited to announce that we have opened an office in Parramatta – the Western Sydney hub poised to become Sydney’s ‘second CBD’.

The Parramatta team will be led by Valuation Advisor Alex Dzang and will work closely with our Orange office.

Establishing a base in Sydney has been a natural progression for JPAbusiness, as we have experienced increasing interest from business clients across the Sydney basin. And with Western Sydney, in many respects, the growing heart of the Sydney metropolitan area – albeit still with strong links to country NSW – Parramatta was the logical choice.

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Topics: JPAbusiness, Orange NSW, Parramatta, Business advisor, Valuations, Buying a business

What does 'due diligence' mean when buying a business?

Posted by James Price | JPAbusiness on 06-Feb-2019 02:00:00

Welcome to our latest ‘Business Basics’ blog in which we answer the question: What does ‘due diligence’ mean when buying a business?

In a nutshell, due diligence is defined as ‘the process of acquiring objective and reliable information on a … company as required, especially before a commercial acquisition’ [Macquarie Dictionary].

At JPAbusiness we regularly undertake due diligence for business-buying clients. The process involves checking and verifying information relating to the basic operations and performance of the business our client is considering buying.

Our role is to identify risks and issues, plus any material differences between what has been represented in information previously provided on the business, and what we identify in the due diligence process.

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Topics: Due diligence, Buying a business, business advice, business basics

7 tips for managing outsourcing partners and virtual teams (cheat sheet)

Posted by James Price | JPAbusiness on 06-Feb-2019 02:00:00

At JPAbusiness, we use our virtual team for roles such as marketing, legal and IT.

Of course, 'virtual teams’, ‘virtual resourcing’ and ‘contingent workforce’ are simply other ways of saying outsourcingThey’re modern terms, but their development is based on a very old business adage: do what you do well and rely on others for the rest.

Small to medium-sized enterprises (SMEs) are increasingly outsourcing to drive efficiencies, but managing virtual teams also presents some challenges. In the following cheat sheet we've provided 7 tips for managing outsourcing partnerships and virtual teams. 

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Topics: outsourcing, virtual team, staff management, project management, business advice, cheat sheet

Hiring staff – 3 things to do before you interview [infographic]

Posted by James Price | JPAbusiness on 30-Jan-2019 02:00:00

When hiring new staff there are a number of issues that need to be dealt with by a business owner or senior manager before a recruitment interview process begins. It’s much harder to retrofit this important information into a recruitment process after the fact.

We've created the following infographic to help with that pre-interview planning process. It sets out: 

  • the 3 tasks to undertake before you begin the interview process;
  • examples of what you might consider when carrying out each of those planning tasks.
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Topics: staff management, staff recruitment, hiring staff, business advice, infographic, Business advisor

'You can do better': the power of feedback when managing a team

Posted by James Price | JPAbusiness on 30-Jan-2019 02:00:00

This blog comes from our eBook Surfer dudes, janitors and the Ritz-Carlton: Lessons in leadership and business culture.

Management consultant Kevin Catlin from Insight Strategies, Inc. generously shared three of his past blogs in the eBook, along with some updated comments at the end of each one.

We hope you enjoy the insights of this inspirational communicator and leadership expert.

 

By Kevin Catlin
Insight Strategies, Inc.

I joined the army in July of 1976 but had to wait four months to turn 18 before I could be shipped off to basic. I was not a great soldier...

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Topics: staff management, leadership, Business culture, guest blogger, feedback, staff performance

How to use our Strategic Value Checklist to build your business value

Posted by James Price | JPAbusiness on 23-Jan-2019 02:00:00

The JPAbusiness Strategic Value Checklist has been created to help you drive positive strategic value in your business.

Don't wait until it's time to sell or exit to work on the business characteristics listed in the checklist. While strategic value drivers are not always quantifiable (as we discussed in our free eBook Strategic Value in a Business Sale) they’re not fairy dust either. They can’t be created with a magic wand overnight!

Strategic value drivers result from real actions you can take to enhance year-by-year earnings in your business, and also potentially assist you to capture extra value on exit of your business.

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Topics: Business Value, Selling your business, Exiting your business, Valuations, Advice, Checklist, Business advisor

How to put a price on ‘strategic value’ when buying

Posted by James Price | JPAbusiness on 23-Jan-2019 02:00:00

One way of quantifying a business’ strategic value, at least to some degree, is to consider the ‘buy versus build’ scenario.

Ask yourself: ‘If I was to buy this business, what additional value over and above the fair market value would I get and could I achieve that same value simply by growing my own business?’

Often as business valuers we will determine a fair market value for a client’s business and then, under a separate and subsequent engagement, be involved in selling that business.

In general we find that for every 10 people – businesses or investors – who are interested in purchasing the business, about three of those 10 are already operating in the same market.

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Topics: Business Value, Advice, strategic value, Buying a business, valuing a business, 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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