5 tips for business buyers [video]

Posted by James Price | JPAbusiness on 24-Feb-2021 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 valuation, Business advisor, James Price, valuing a business, Parramatta, Central West NSW, business sale transaction advisor, business value drivers

How to use succession planning to boost business value [template]

Posted by James Price | JPAbusiness on 10-Feb-2021 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, Template, Succession planning, business advice, Business advisor, James Price, JPAbusiness, Parramatta, Central West NSW, business succession, scorecard

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

Posted by James Price | JPAbusiness on 16-Dec-2020 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 as business sale transaction advisors.

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, Business advisor, James Price, JPAbusiness, Parramatta, Central West NSW, business sale, business sale transaction advisor

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

 
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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