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

Posted by James Price | JPAbusiness on 26-Jan-2022 06:00:00

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: Selling your business, Exiting your business, Video, Succession planning, selling a business, business succession

What to put in an Annual Business Plan [video]

Posted by James Price | JPAbusiness on 19-Jan-2022 06:00:00

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?
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Topics: Business Planning, Video, strategic planning, annual business plan, business plan, strategic plan

How to use the Business Transfer Checklist [Free template]

Posted by James Price | JPAbusiness on 02-Jan-2022 13:37:44

There are many important issues a vendor needs to deal with in the transfer process leading up to a business sale settlement.

The last thing anyone wants is a handover whereby business performance is negatively impacted by transfer issues not planned out ahead of time and dealt with appropriately. These issues may include:

  • staff entitlements and employment contracts
  • managing key customer and supplier relationships and communication
  • transfer of registrations and insurances on P&E
  • work in progress
  • final stocktake
  • premises lease transfer.
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Topics: Buying a business, Selling your business, Business transfer, Checklist, selling a business, business buying, Business selling

6 reasons to invest in training and professional development [infographic]

Posted by James Price | JPAbusiness on 02-Jan-2022 13:30:41

We all want competent, confident staff who feel fulfilled and motivated by their work – as we've discussed in previous blogs, it's a win-win that provides benefits for both the employer and employee.

First we need to answer the question: what is the difference between 'training' and 'professional development'?

Training is about ensuring your employees have the required skills and expertise to carry out the tasks for which they are responsible.

Professional development is a more long-term concept and is about helping your employees prepare to perform additional duties in future roles.

What are the benefits of having trained people in my organisation?

The infographic below lists 6 benefits of investing in staff training and professional development.

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Topics: Employment and recruitment, Staff, Training and Professional Development, infographic, staff training, training and pd

How to value a business [video]

Posted by James Price | JPAbusiness on 22-Dec-2021 06:00:00

People are often critical of business valuation – and sometimes I’m one of them – because it’s a very theoretical process.

In fact, some cynically regard it as hocus-pocus: some science, some gut feel, coupled with a bit of rationale.

It’s true that business valuation is not an exact science, but good valuers base their valuations on empirical evidence and robust assessment, underpinned by regular engagement in the market.

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Topics: Business Value, Video, Business valuation, business valuer

Coming in 2022: new website and membership portal

Posted by JPAbusiness on 15-Dec-2021 09:00:00

2021: it's a wrap

2021 has been a big, busy and challenging year for all of us in business, with uncertainty and change pressures having a significant impact, in terms of opportunities and also threats!

Nonetheless, the strength, resilience and ingenuity of Australian businesses means we’ve had one of our biggest years, assisting and advising our clients with advice and strategies to change, grow and improve the value of their businesses.

It’s so rewarding to see our clients reach their potential and, in some cases, go beyond, and to be a part of that journey.

Thank you for being part of our business network and for your ongoing support – we are truly grateful for the connections.

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How to use online tech to refine products and services

Posted by James Price | JPAbusiness on 30-Nov-2021 16:16:54

In the fifth chapter of our Ultimate Guide to Boosting Business Value Through Online Activity ebook, we discuss how to refine your product and service officering using online technology.

Increasingly closer engagement with customers, via social media, is allowing companies we deal with to develop and refine offerings and ideas in a much more dynamic way.

You can:

  • read Chapter 5 below,
  • download the complete ebook, or
  • watch a video where I discuss the chapter on our YouTube channel.
Continue reading...

Topics: Digital marketing, Video, eBook, digital strategy, online strategy, product development, products and services, social media strategy

How to build brand and market credibility online

Posted by James Price | JPAbusiness on 24-Nov-2021 11:52:55

In the fourth chapter of our Ultimate Guide to Boosting Business Value Through Online Activity ebook, we discuss how to build a strong brand using online technology.

With the rise of the internet and instant access to reviews and information, brand credibility and recognition both online and offline is more important than ever.

You can:

  • read Chapter 4 below,
  • download the complete ebook, or
  • watch a video where I discuss the chapter on our YouTube channel.
Continue reading...

Topics: Digital marketing, Video, eBook, brand strategy, marketing, branding, digital strategy, online strategy

How to use digital technology to reduce costs

Posted by James Price | JPAbusiness on 16-Nov-2021 16:53:26

In the third chapter of our Ultimate Guide to Boosting Business Value Through Online Activity ebook, we discuss how to take advantage of digital technology to reduce costs.

Modern technology is allowing businesses to scale, and increase their profit margins as a result.

One example we discuss in the ebook is a construction-based client who is using technology to extract real-time data about their current projects.

Technologies like GPS tracking and cloud-based ERP software provide much closer oversight of projects, helping business owners save time and money and, ultimately, drive business value.

You can:

  • read Chapter 3 below,
  • download the complete ebook, or
  • watch a video where I discuss the chapter on our YouTube channel.
Continue reading...

Topics: Digital marketing, Video, eBook, digital strategy, online strategy, reducing costs

How to win new sales using digital technology

Posted by James Price | JPAbusiness on 10-Nov-2021 15:05:55

In this week's blog I'm sharing Chapter 2 of our new ebook: Ultimate guide to boosting business value through online activity.

In Chapter 2 I tell the story of a company in our network that responded to COVID-19 by drastically changing its sales strategy and, as a result, grew sales by 2030% while reducing travel costs by 80%.

You can:

  • read Chapter 2 below,
  • download the complete ebook, or
  • watch a video where I discuss the chapter on our YouTube channel.
Continue reading...

Topics: Digital marketing, Video, eBook, digital strategy, online strategy, sales

 
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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