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

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

Create an Annual Business Plan with our free template

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

Business planning is about making your business as robust as possible, so it can take advantage of opportunities and also successfully withstand inevitable shocks.

Annual business plans don’t have to be weighty documents, but they do need to contain some key information, with the most important being:

  • frank and honest appraisal of resources
  • analysis of your competitive environment
  • SWOT analysis
  • targets
  • budget.
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Topics: Free download, Business Planning, Template, Succession planning, Business advisor, business management, Parramatta, Orange NSW

Don't rush it – 3 questions to consider before buying a business

Posted by James Price | JPAbusiness on 04-Dec-2019 02:00:00

Whether we’re assisting a client to buy a business, providing advice or due diligence, or fielding enquiries on businesses we’re marketing for sale, one of the first things I tell people is that the price of the business should not be their primary concern.

Now that sounds a bit strange, I know, because price is obviously important –  it would be silly to enquire about a business worth $5 million, for example, when you have $500,000 maximum to invest.

But, and I’m very serious about this, I believe you should set the price of the business aside in your initial discussions and investigations, and consider the following questions first:

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Topics: Buying a business, Advice, Business Planning, infographic, Starting a business, Business advisor, Parramatta, Orange NSW

Video: How to create an Annual Business Plan

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

The annual business planning process should address three critical questions about your business:

  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?

In this video I list four aspects of your business which you need to consider during the annual business planning process – Operational, Financial, Risks, People management – and drill down a little into some issues you should cover under each of those four elements.

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Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning, annual business plan, Parramatta, Orange NSW

How our planning sheet can help business buyers [video]

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

Buying a business is a major investment and it can also be a very time-consuming activity.

In this video James explains how the Buying a Business Planning Sheet can help save time and also give direction to your purchase planning.

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

Top 10 do’s and don’ts of business selling [infographic]

Posted by James Price | JPAbusiness on 16-Oct-2019 02:00:00

Planning, professional marketing, timing and finding the right match regarding value and terms are just some of the ingredients that go to making a successful business sale.

The following infographic is a distillation of lessons we've learned over many years of advising business sale clients.

Use these tips to help you make the right decisions when preparing your business for sale.

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Topics: Selling your business, Advice, Business Planning, infographic, selling a business

How does succession planning add value to my business? [template]

Posted by James Price | JPAbusiness on 28-Aug-2019 02:00:00

Succession planning is the process of identifying and developing internal staff who have the potential to fill key business leadership positions should existing leaders – including yourself – leave the business.

It’s about creating a back-up system for your people resource and it should start the minute you take on a business’ ownership, whether you buy it or start it from scratch.

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Topics: Business Value, Business Planning, Succession planning, business advice, Parramatta, Orange NSW

How long does it take to sell a business? (Video)

Posted by James Price | JPAbusiness on 31-Jul-2019 02:00:00

The time it takes to sell a business is heavily influenced by how prepared you and your business are for an open market, or trade, sale.

In this video I'm sharing 3 basic things you should have done before embarking on a sales process:

  1. Gathered and prepared some of the key information about your business that a purchaser will want to examine
  2. Sought independent advice on the market value of your business
  3. Sought professional advice on the potential tax and other implications of selling. 
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Topics: Selling your business, Business Planning, Video, Succession planning, business advice, selling a business, James Price, Parramatta, Orange NSW

 
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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