6 key elements of managing your staff [cheat sheet]

Posted by James Price | JPAbusiness on 21-Jul-2021 02:00:00

A high-performing team is business 'nirvana'. A high-performing team:

  • is one where both the individuals and the team as a whole are performing to their optimum potential;
  • is aligned and attuned to your vision for where you want to take the business;
  • drives the key tasks and aspects of the business to achieve both its short- and long-term objectives.

In our eBook, Managing staff for high performance, we discussed 6 key elements that you as a business manager, owner or leader need to think about as you go about your day-to-day activities, in order to positively manage staff and help develop them into a high-performing team.

We've distilled that information into the following cheat sheet.

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Topics: cheat sheet, staff management, business advice, Business advisor, staff performance, performance review, James Price, JPAbusiness, Parramatta, managing employees, Central West NSW, managing staff

How to make a business private equity ready [cheat sheet]

Posted by James Price | JPAbusiness on 07-Jul-2021 02:00:00

Private equity is much more than just some capital.

You can get capital from plenty of places, but private equity aims to be an aligned partner, helping a business to grow, set strategy and problem-solve.

In our eBook Partners in Your Business, guest contributor Gareth Banks from Champ Ventures explained how private equity works and what sort of opportunities private equity investors look for.

We have distilled some of Gareth’s advice down into this cheat sheet, to help you make your business private equity ready.

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Topics: cheat sheet, Template, business advice, Business advisor, equity investor, business partners, Private equity, James Price, JPAbusiness, Parramatta, Central West NSW, private capital

7 golden rules for successful hiring

Posted by James Price | JPAbusiness on 26-May-2021 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, Template, Video, staff management, Business advisor, staff recruitment, hiring staff, James Price, hiring, JPAbusiness, Parramatta, Central West NSW

5 tools to help business sellers 'seal the deal' [cheat sheet]

Posted by James Price | JPAbusiness on 28-Apr-2021 02:00:00

Getting a business sale transaction 'over the line' is not about tips and tricks.

Instead it's about efficiently managing the information flow through the detailed due diligence process to ensure:

  • all parties are well informed,
  • the negotiating process progresses smoothly, and
  • everyone can feel comfortable with the end result.

A good advisor or broker will successfully manage that interface for you.

The cheat sheet below introduces some of the tools the JPAbusiness team uses 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, business broker, James Price, Parramatta, Central West NSW, business sale, business sale transaction advisor, business seller

Tips for managing outsourcing partners and virtual teams (cheat sheet)

Posted by James Price | JPAbusiness on 11-Nov-2020 02:00:00

This blog has been republished in the wake of the COVID-19 pandemic, which has forced many businesses to adopt a 'virtual team' approach to their workforce.

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 outsourcing. They’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: infographic, cheat sheet, outsourcing, virtual team, staff management, project management, business advice, Business advisor, James Price, JPAbusiness, Parramatta, Central West NSW

14 ways to control cash flow and maintain liquidity [cheat sheet]

Posted by James Price | JPAbusiness on 20-May-2020 02:00:00

[This blog has been republished in the wake of COVID-19 developments, as having the liquidity necessary to continue operating effectively is critical in these times.]

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.

Continue reading...

Topics: Advice, Cash flow, Working capital, Running your business, cheat sheet, Business advisor, James Price, JPAbusiness, Parramatta, Orange NSW, COVID-19, coronavirus, liquidity

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.

Continue reading...

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.

Continue reading...

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.
Continue reading...

Topics: Business Structures, cheat sheet, business advice, sole trader, tax minimisation, company, trust, asset protection, 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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