How to build value by starting succession planning early [cheat sheet]

Posted by James Price | JPAbusiness on 12-Feb-2020 02:00:00

The following cheat sheet contains 6 succession strategies you can start employing in your business today.

Adopting these strategies will help future-proof your business for when and if you decide to take up an exit opportunity, or relinquish operational involvement in your business.

It’s never too early to start thinking about your succession plan and developing the skills of your team and business capability.

If you future-proof your business in this way, the business should thrive even if you’re not there, and the market should reward you.

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Topics: infographic, cheat sheet, Template, Succession planning, staff management, business advice, business management, business ownership, business valuer, running a business, small business

Our 14 top tips to control cash flow [cheat sheet]

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

As business valuers and brokers, and in advising clients on business performance and financing, there is a critical thing we look for: liquidity.

Liquidity is effectively how much cash a business generates and how stable and frequent that generation is. That ability to generate cash is a critical component of business value.

As we often say, owners need to think about the value they get today in running their business, versus the value they get in the future when they sell.

The more cash surplus in the business, the more value they’re deriving into their pocket today. But cash surplus – as working capital – also gives a business more options to grow, invest and change, and build value over time.

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

How to bring a new shareholder into your business [cheat sheet]

Posted by James Price | JPAbusiness on 30-Oct-2019 02:00:00


There are 2 key issues to consider when taking on a new partner or shareholder:

  1. How to establish the shareholding for the incoming investor
  2. How to manage the shareholder relationships.

The following cheat sheet sets out some of the questions you need to consider to ensure your agreement is well thought out and the shareholder relationships are well managed. 

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Topics: Business Structures, Shareholders, cheat sheet, business advice, Business advisor, business partners, shareholders agreement

4 principles to help choose your business structure [cheat sheet]

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

Good business structures should be effective in:

  1. Protecting your assets
  2. Minimising your income tax and capital gains tax
  3. Simplifying your administration
  4. Achieving your retirement objectives
  5. Achieving your estate planning objectives.

The right business structure for your situation will depend on a number of considerations. The most important are usually:

  • asset protection, and
  • the ability to reduce the overall tax rate.
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Topics: Business Structures, cheat sheet, business advice, sole trader, tax minimisation, company, trust, asset protection, Parramatta, Orange NSW

How to develop and maintain a strong brand [cheat sheet]

Posted by James Price | JPAbusiness on 25-Sep-2019 02:00:00

A few years back we were delighted to partner with the team from Royce Communications to create one of our most popular eBooks: Brand and Corporate Identity for Small to Mid-Sized Businesses.

The eBook covers:

  • What is a brand and why do businesses need one?
  • How to create a brand identity
  • Managing your brand identity in a digital world
  • How brand identity impacts business value.

In this cheat sheet we have distilled some valuable tips for establishing and maintaining a successful brand identity.

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Topics: Advice, Brand and marketing, Running your business, cheat sheet, business advice, Business advisor, James Price, brand identity, Parramatta, Orange NSW

7 golden rules for a successful hire [video]

Posted by James Price | JPAbusiness on 18-Sep-2019 02:00:00

Great staff are critical to our success as business owners and managers, but finding and keeping the right people is an ongoing challenge for many businesses.

Unfortunately we can't conjure appropriately trained staff out of the air for our clients and subscribers, but we can provide advice to make the recruitment process as successful as possible.

In this video I outline our 7 'golden rules' for successful hiring.

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Topics: Employment and recruitment, Advice, infographic, cheat sheet, Video, staff management, Business advisor, staff recruitment, hiring staff

4 tips to turn around poor staff performance [cheat sheet]

Posted by James Price | JPAbusiness on 29-May-2019 02:00:00

If you choose to condone poor performance by a staff member, you’re sending a pretty negative message to other team members about your expectations for your business i.e. those expectations are pretty low!

And if you don’t deal with that individual with respect and in a professional and fair way, you’re also sending a negative message about your business culture and ‘how things are done here'.

The following cheat sheet sets out 4 strategies for turning around poor performance while taking into account the two points above, i.e:

  • performance issues must be dealt with, and
  • they must be dealt with in a respectful way.
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Topics: cheat sheet, staff management, business advice, staff performance, performance review, 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

5 tools to help seal the deal when selling a business [cheat sheet]

Posted by James Price | JPAbusiness on 20-Mar-2019 02:00:00

Over the past few years we’ve produced a number of resources to help our readers and clients navigate the business sale journey.

For the record, Step 1 of selling is always the same: Ask yourself ‘what is my objective in selling?’ Why you are selling needs to be very clear in your mind, and the minds of your spouse, shareholders, business partners and so on, in order to set yourself up for a successful sale.

At the other end of the selling process is ‘sealing the deal’ and this is not without its challenges. The cheat sheet below introduces some of the tools we use to manage information flows during the detailed due diligence process and, ultimately, seal the deal.

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Topics: Selling your business, Due diligence, cheat sheet, business advice, selling a business, Business advisor, Parramatta, Orange NSW

7 tips for managing outsourcing partners and virtual teams (cheat sheet)

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

At JPAbusiness, we use our virtual team for roles such as marketing, legal and IT.

Of course, 'virtual teams’, ‘virtual resourcing’ and ‘contingent workforce’ are simply other ways of saying outsourcingThey’re modern terms, but their development is based on a very old business adage: do what you do well and rely on others for the rest.

Small to medium-sized enterprises (SMEs) are increasingly outsourcing to drive efficiencies, but managing virtual teams also presents some challenges. In the following cheat sheet we've provided 7 tips for managing outsourcing partnerships and virtual teams. 

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Topics: cheat sheet, outsourcing, virtual team, staff management, project management, business advice

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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