Free up cash with our Working Capital Checklist [free template]

Posted by James Price | JPAbusiness on 25-Mar-2020 02:00:00

As a business owner or manager, there are a number of 'levers' you need to control to successfully manage working capital and drive a successful, cash-generating business.

As our Working Capital Checklist shows, those levers fall into two buckets: current assets and current liabilities.

You can use the free checklist to assist you in achieving a firm control of your working capital levers and cash position, so your business proposition is not hampered by poor cash flow.

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Topics: Business Value, Selling your business, Cash flow, Working capital, Exiting your business, Template, Checklist, business management, COVID-19, business strategy, coronavirus

COVID-19 business survival guide – practical tips for you and your business

Posted by James Price | JPAbusiness on 25-Mar-2020 02:00:00

The experts tell us it could be 12–18 months before a vaccine for COVID-19 is found and made universally available.

So, while we can hope for a lesser period, we probably need to plan for uncertainty to continue over this time frame. And remember, the vaccine will only deal with the health and wellbeing aspects of the crisis. What about the lingering economic and social impacts of a world and global economy shifting down? What about the impact on your business? What should you be prioritising today?

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Topics: Business Planning, business advice, Business advisor, James Price, strategic planning, JPAbusiness, Parramatta, COVID-19, business strategy, coronavirus

Parramatta new home base for JPAbusiness

Posted by James Price | JPAbusiness on 18-Mar-2020 02:00:00

Last year we told you about our move to Parramatta in Western Sydney. Well, it’s been just over 12 months and we’re loving it!

It’s now time for us to consolidate our physical footprint within one office, which will be the Parramatta office. As a result, we have closed our Orange office, but our corporate address and roots remain firmly in the central west, at Blayney, NSW.

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Topics: business advice, selling a business, Business valuation, Business advisor, business valuer, running a business, James Price, JPAbusiness, Parramatta

Business valuation or market appraisal – what is the difference? [video]

Posted by James Price | JPAbusiness on 18-Mar-2020 02:00:00

Business market appraisals and valuations are both robust assessments of a business’ worth and are appropriate for use in different circumstances.

In this video I explain the difference between a business market appraisal and a business valuation, and when each should be used.

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Topics: Business Value, Advice, Valuations, Video, Business valuation, market appraisal, valuing a business, Parramatta, Orange NSW

How your inventory management impacts business sale price [case study]

Posted by James Price | JPAbusiness on 11-Mar-2020 02:00:00

A few years back the JPAbusiness team facilitated the sale of a business involved in import and distribution.

It was a well-known, independent brand that had been established for well over 50 years and had solid bottom-line performance.

Unfortunately, when it came time to exit the business, it soon became apparent there was too much inventory (stock on hand).

We negotiated a price for the goodwill, plant and equipment etc, based on a multiple of Business Maintainable Earnings (BME), which is essentially the cash flow of the business.

Then it was time to address the stock value.

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Topics: Business Value, Selling your business, Advice, Cash flow, Inventory, selling a business, Business advisor, JPAbusiness, Parramatta, Orange NSW, cash flow management

15 strategies to reduce employee fraud risk

Posted by James Price | JPAbusiness on 11-Mar-2020 02:00:00

Small businesses (under 100 employees) lose almost twice as much to occupational fraud – per case – as large businesses. [Source: ACFE Report to the Nations: 2018 Global study on occupational fraud and abuse]

And according to the PWC Global Economic Crime Survey 2016, seven out of 10 organisations believe the biggest driver of internal economic crime is opportunity.

What you can do

While business owners can’t do much about a fraudster’s personal drivers, we can definitely limit opportunities to commit employee crimes and create a work environment that actively discourages fraud.

Listed below are 15 strategies to minimise the risk of employee fraud occurring in your business.

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Topics: Free download, staff management, Checklist, Employee fraud, business advice, eBook, Business advisor, JPAbusiness, Parramatta, Orange NSW

How to transfer business ownership (video)

Posted by James Price | JPAbusiness on 04-Mar-2020 02:00:00

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: Business transfer

5 tips to manage your banking partnership [infographic]

Posted by James Price | JPAbusiness on 04-Mar-2020 02:00:00

A banker is not just a simple supplier to your business – they are a partner in your business.

Their success in lending you money is inextricably linked to your success as a business, so treating them as anything other than a business partner is not doing the opportunity justice.

The following infographic sums up what you can do to give that partnership every chance of success.

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Topics: Advice, Partners, Running your business, infographic, Banking, Business advisor, business management

5 tips for buying a business [video]

Posted by James Price | JPAbusiness on 26-Feb-2020 02:00:00

The following video features 5 tips that will help you take a planned and measured 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.

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Topics: Buying a business, Business Planning, Video, business advice, Business advisor, Parramatta, Orange NSW

How to create a Professional Development plan [template]

Posted by James Price | JPAbusiness on 26-Feb-2020 02:00:00

Staff professional development (PD) needs are best identified through a formal performance management and evaluation process.

I recommend owners/managers sit down with their staff members once every 12 months, as part of their annual performance review process, and develop a PD plan jointly, with each individual.

This review process will identify where already skilled employees need information to support their growth to gain more advanced knowledge, and further develop their own business and leadership skills. 

You can create plans from scratch, or download our free Professional Development Plan template to get you started.

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Topics: Template, business advice, professional development, Parramatta, Orange NSW, managing employees, staff training

 
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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