Why building sustainable business value is a marathon, not a sprint

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

One of the lessons I’ve learnt over 35 years of running my own businesses – and also advising on and observing others – is that very little value is generated in a ‘fast foot race’.

Good things come from time, careful execution, trial and error, and patience.

I'm spending a few hours in the gym these days trying to tone and trim up a bit. As a tall guy who’s less than perfectly coordinated, there are some exercises that are a bit of a challenge – barbell squats for one. My form is not a picture of symmetry and grace.

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Topics: Business Value, Business Planning, Succession planning, business advice, Business valuation, Business advisor, JPAbusiness, Parramatta, Central West NSW, business transaction advisor, sustainable value, business sustainability

How to use the Business Health Check [video]

Posted by James Price | JPAbusiness on 28-Oct-2020 02:00:00

The JPAbusiness Business Health Check template asks you to rate your business’ performance against 15 health factors, with an explanation of key considerations for each. It also provides some suggestions for how you may improve the health of your business, based on your score.

JPAbusiness has been conducting Business Health Checks for clients for over 18 years. In this video James explains how the Business Health Check serves as a diagnostic tool for uncovering a business' weaknesses, while also identifying its strengths.

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Topics: Business Planning, Template, Video, business advice, Business advisor, Business health check, James Price, JPAbusiness, Parramatta, Central West NSW, diagnostic tool

How to talk with family about succession and estate planning

Posted by James Price | JPAbusiness on 21-Oct-2020 02:00:00

When it comes to succession and estate planning, it’s never too early to start thinking – and talking – about it.

However, some business owners prefer not to confront their own mortality and just continue on running their business while avoiding thinking about, or planning for, the inevitable i.e. their ‘exit’. This creates the perfect environment for conflict among those left behind.

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Topics: Business Planning, Succession planning, business advice, Business advisor, James Price, JPAbusiness, Parramatta, estate planning, Central West NSW, business succession

How to bring in a new shareholder [blog]

Posted by James Price | JPAbusiness on 14-Oct-2020 02:00:00

There are two golden rules when bringing an additional partner or shareholder into an existing business.

Golden rule 1: Understand what value the partner or shareholder is bringing to the business. Is it specialist expertise, an entry point into a new business line, strategic opportunities, funding… or all of these?

Golden rule 2: Understand the motivations and intentions of the new partner or shareholder – now and moving forward. It may help to seek some advisory or facilitation services to tease out and clarify these motivations.

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Topics: Advice, Business Planning, Legal, Running your business, Business Structures, Shareholders, business advice, shareholders agreement, JPAbusiness, Central West NSW

How to protect your business during the pandemic [infographic]

Posted by James Price | JPAbusiness on 05-Aug-2020 02:00:00

 

 

In mid-April we published an infographic detailing our expectations around the business activities we would all need to engage in following the initial impact of the COVID-19 crisis.

The three phases of activity we expected to follow the initial impact were: survival, protection and emergence.

Our take was that if you want to stand a chance of getting out of crisis mode and through to the other side, intact and ready for a viable future, you need to explicitly understand each phase and work your business, strategies and decisions within their constraints and conditions. 

For most of our clients and other businesses, with the exception of those significantly impacted by the ‘Stage 4’ lockdown announced this week for metropolitan Melbourne, we’re currently in the ‘protection' phase of our predicted timeline. We thought this might be a useful time to publish a reminder of what we believe businesses should be considering at this time.

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Topics: Business Planning, infographic, business advice, Business advisor, JPAbusiness, Parramatta, cash flow management, COVID-19, business strategy, coronavirus, scenario planning

Video: Tips for seeking finance during the COVID-19 crisis

Posted by James Price | JPAbusiness on 29-Apr-2020 02:00:00

This week we’ve created a two-part video series offering advice on how to communicate with your bank, financier or investors, and what pieces of information to share, if you’re looking to secure funding and ongoing support in the current environment.

In last week’s video I mentioned that smart business owners are using this time to ask tough questions, including: “What is the best balance sheet and funding structure for my business, going forward?”

As I said then, the smart businesses – even if their balance sheets are quite strong and they have funding lines – are talking openly to their financiers, sharing re-forecasts and securing extra funding lines, just in case things become more difficult over the next 6–12 months.

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Topics: Business Planning, Banks and lending, Banking, business advice, Business advisor, running a business, James Price, seeking finance, JPAbusiness, Parramatta, business finance, business strategy

Video: How COVID-19 is impacting different elements of business

Posted by James Price | JPAbusiness on 22-Apr-2020 02:00:00

In this video I’ve discussed how the COVID-19 situation is impacting different elements of business and the Australian economy.

I’ve used the video to share my analysis, as well as some of our clients’ feedback, on the following questions and issues:

  • Will people want to buy and sell businesses in this market? If ‘yes’, how will those deals be financed?
  • Taking the leap into online – finding the ‘upside’ of social distancing
  • Virus driving ‘Uber-style’ disruption in commercial property market – what’s the outlook post-crisis?
  • Clients taking advantage of potential positive environment for succession
  • What tough decisions should we be making in our businesses at this time?
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Topics: Business Planning, business advice, James Price, JPAbusiness, Parramatta, cash flow management, COVID-19, business strategy, coronavirus, scenario planning

How to move from COVID-19 crisis mode to long-term business survival [infographic]

Posted by James Price | JPAbusiness on 15-Apr-2020 02:00:00

Over the past few weeks we’ve published a number of COVID-19 related blogs to assist our readers in navigating the new and emerging business landscape.

Like most people, we didn’t see the new coronavirus coming, so the blogs and resources we’ve shared have been a result of pretty ‘on the fly’ thinking about how we could best support you.

This week we’ve consolidated those resources into a presentation format to show you how they tie in together and can be used in your business.

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Topics: Business Planning, infographic, business advice, Business advisor, JPAbusiness, Parramatta, cash flow management, COVID-19, business strategy, coronavirus, scenario planning

Use our scenario planning guide to help your business survive the shutdown

Posted by James Price | JPAbusiness on 01-Apr-2020 02:00:00

As business owners and managers trying to operate in these extraordinary and uncharted times, my advice is to hope for the best and plan for the worst.

Because we don’t know when things will turn around and there’s so much uncertainty, it’s easy to say it’s all too hard to do meaningful business planning. I beg to disagree!

Now is just the time to do some straight-forward scenario planning, along with risk assessments and identifying critical strategic and operational priorities.

In this blog we’re sharing a series of questions and suggested actions to help guide you through that process.

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Topics: Business Planning, business advice, Business advisor, James Price, JPAbusiness, Parramatta, cash flow management, COVID-19, business strategy, coronavirus, scenario planning

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

 
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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