How to avoid losing customers when buying a business

Posted by James Price | JPAbusiness on 14-Jul-2021 02:00:00

There are a number of risks when buying a business and one of them relates to key customers taking flight in the early stage of the transfer.

In doing your due diligence it’s wise to look at customer concentration risk. Where you have a significant concentration of one or two customers, in particular, you should try and protect against that risk.

Here’s an example of how purchasers can use a ‘hard’ provision to protect against this risk in the final contract:

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Topics: Customers and Clients, Buying a business, Customers, selling a business, risk management, business sale

How to attract valuable customers [infographic]

Posted by James Price | JPAbusiness on 08-May-2019 02:00:00

 

Business value comes in two different ways:

  • during the course of operations, and
  • at the end, when you sell or pass on your business.

Many people run successful and efficient businesses, but don’t take the time to sit back and ask ‘what is actually driving the value in my business?’

Understanding those value drivers and focusing energy on them is the difference between having a business that runs efficiently today, and one that builds value over time.

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Topics: Customers and Clients, Customers, infographic, strategic planning

Are your customers adding value? [infographic]

Posted by James Price | JPAbusiness on 24-Oct-2018 02:00:00

Many people run successful and efficient businesses, but don’t take the time to sit back and ask: ‘What is actually driving the value in my business?’

Understanding those value drivers and focusing energy on them is the difference between having a business that runs efficiently today, and one that builds value over time.

Customers are key drivers of business value, but – as we know – not all customers are created equal. The following infographic contains 4 questions designed to assist you in assessing the make-up and value of your customer base.

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Topics: Business Value, Customers and Clients, Customers, infographic, business management

How to improve cash flow with customers [video]

Posted by James Price | JPAbusiness on 28-Mar-2018 02:00:00

We often come across cash flow issues when working with new business advisory clients or conducting business valuations.

The issues are generally related to two main areas of the business: customers and suppliers.

In this video I'm sharing some advice on how to better manage those cash flow issues that relate to customers.

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Topics: Business Value, Customers and Clients, Customers, Cash flow, Working capital, Video, cash flow management

The best way to improve customer satisfaction [blog]

Posted by James Price | JPAbusiness on 30-May-2016 10:39:30

I’m currently overseas enjoying some rest and relaxation.

As well as relaxing, this trip is also a time to smell the roses and get some perspective on what’s happening in the world of business, industry, technology, people and culture.

Following are a few observations from my travels in the US:

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Topics: Customers and Clients, Customers, Running your business

 
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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