What happens after you sell your business? [cartoon]

Posted by James Price | JPAbusiness on 17-Apr-2019 02:00:00

After the process of finding a buyer and selling your business, there is a good chance you’ll still need to turn up to work for a period of time.

Conditions of a sales agreement often include requirements for continuation of service for a transitional period. This involves working alongside the new owner for a set period to share information and knowledge of the business.

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Topics: Selling your business, Advice, Family business, Exiting your business, Business advisor, cartoon, Parramatta, Orange NSW

How to influence your bank's lending appetite [cheat sheet]

Posted by James Price | JPAbusiness on 27-Mar-2019 02:00:00

A bank, financier or equity investor focuses on three S’s when considering their appetite for your business. They are:

  • Servicing
  • Security
  • Surety
None of these factors are completely controllable, but they are strongly influenced by your actions as a business owner.

Our cheat sheet can help you understand and manage these factors, to help create a strong and positive relationship with your bank or financier.

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Topics: Advice, Banks and lending, Running your business, cheat sheet, Banking, Parramatta, Orange NSW, business finance

6 reasons to invest in staff training and PD [infographic]

Posted by James Price | JPAbusiness on 27-Mar-2019 02:00:00

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, Skills and knowledge, Advice, Staff, Training and Professional Development, infographic, Business advisor, Parramatta, Orange NSW

What to include in your shareholders’ agreement [checklist]

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

If you’re a business owner considering taking on an investing party or shareholder, some form of written shareholders’ or partners’ agreement is vital.

Use the agreement to make clear all parties’ investment and partnership intentions and responsibilities from the outset.

Remember, this is your business, so you can cover whatever you think important, from business relationships, ethics and cultural issues, to insurances, taxation and debt obligations; it’s your blank canvas.

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Topics: Advice, Partners, Business Structures, Shareholders, Checklist, business advice, shareholders agreement

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

Posted by James Price | JPAbusiness on 27-Feb-2019 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 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, Advice, Valuations, Exiting your business, 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, Buying a business, Advice, strategic value, Business advisor, valuing a business

14 tips for controlling cash flow [cheat sheet]

Posted by James Price | JPAbusiness on 09-Jan-2019 02:00:00

Cash flow is a critical part of the operation of a business.

If your business were a human body then cash flow would be the system of veins and arteries and the blood that runs through them: it's essential for keeping the body/business alive, active and functioning.

This cheat sheet contains 14 of our top tips for managing your cash flow. 

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Topics: Advice, Cash flow, Working capital, Running your business, cheat sheet

How to create an annual business plan

Posted by James Price | JPAbusiness on 09-Jan-2019 02:00:00

You can’t plan for every eventuality, but you can plan to withstand shocks. Having a business plan and following our 3-Step Annual Business Plan Process will help you make your business as robust as possible, should such a shock occur.

Planning is about influencing the things you can influence, while taking account of the things you can’t. The latter are risks or opportunities that may or may never eventuate.

By changing the things you can change, you can position yourself to take advantage of opportunities should they arise, or mitigate risks that might flow.

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Topics: Advice, Business Planning, Running your business, Template, Business advisor, annual business plan

How to sort genuine buyers from tyre kickers when selling a business

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

When selling your business, it’s important that you value the information you have put together on the business and don’t just share it with anyone.

I would advise working with a broker or advisor who is sensitive about how they share your information and who actively uses a prequalification process in dealing with potential purchasers.

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Topics: Selling your business, Advice, selling a business, Business advisor, prequalifying buyers

 
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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