8 due diligence tips for business buyers [infographic]

Posted by James Price | JPAbusiness on 30-Sep-2020 02:00:00

Due diligence is ‘the process of acquiring objective and reliable information on a … company as required, especially before a commercial acquisition’ [Macquarie Dictionary].

The over-riding purpose of due diligence is to ensure there are no nasty surprises after you buy a business.

We’ve created the following infographic to share some of our top tips for people embarking on the due diligence process.

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Topics: Buying a business, Due diligence, infographic, business advice, Business advisor, James Price, JPAbusiness, Parramatta, Central West NSW, business buyer, business transaction advisor

3 tasks before you interview [video]

Posted by James Price | JPAbusiness on 23-Sep-2020 02:00:00

When hiring new staff there are a number of issues that need to be dealt with by a business owner or senior manager before a recruitment interview process begins. It’s much harder to retrofit this important information into a recruitment process after the fact.

In the following video I list 3 key tasks you should undertake before you begin the interview process.

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Topics: infographic, Video, staff management, business advice, Business advisor, staff recruitment, hiring staff, James Price, JPAbusiness, Parramatta, Central West NSW

How long will it take to buy a business? [Video]

Posted by James Price | JPAbusiness on 16-Sep-2020 02:00:00

We have helped some clients find the right business within six months while, for other clients, it has taken over three years.

The key phrase is ‘the right business’; I’m sure we could speed up the process if our aim was just to help our clients buy ‘a’ business, but that’s not our job.

In this video I explain why it's important not to rush into buying a business, and share four tips for managing risk during the business buying process.

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Topics: Buying a business, infographic, Video, business advice, Business valuation, Business advisor, business broker, vendor due diligence, business buying funnel, JPAbusiness, Parramatta, Central West NSW, business buyer, business transaction advisor

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

How to move from COVID-19 crisis mode to long-term business survival [infographic]

Posted by James Price | JPAbusiness on 15-Apr-2020 02:00:00

Over the past few weeks we’ve published a number of COVID-19 related blogs to assist our readers in navigating the new and emerging business landscape.

Like most people, we didn’t see the new coronavirus coming, so the blogs and resources we’ve shared have been a result of pretty ‘on the fly’ thinking about how we could best support you.

This week we’ve consolidated those resources into a presentation format to show you how they tie in together and can be used in your business.

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Topics: Business Planning, infographic, business advice, Business advisor, JPAbusiness, Parramatta, cash flow management, COVID-19, business strategy, coronavirus, scenario planning

6 tips to help motivate yourself in business [infographic]

Posted by James Price | JPAbusiness on 08-Apr-2020 02:00:00

Motivation in business is about having a certain drive, determination, focus and consistency in the way you go about your business. You also need to feel successful – I don't know anyone who finds repeated failure motivating!

The following infographic features 6 tips to help business owners and managers maximise their motivation.

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Topics: infographic, business advice, Business advisor, staff recruitment, motivation, Parramatta, COVID-19, business strategy, coronavirus, Central West NSW

5 tips to manage your banking partnership [infographic]

Posted by James Price | JPAbusiness on 04-Mar-2020 02:00:00

A banker is not just a simple supplier to your business – they are a partner in your business.

Their success in lending you money is inextricably linked to your success as a business, so treating them as anything other than a business partner is not doing the opportunity justice.

The following infographic sums up what you can do to give that partnership every chance of success.

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Topics: Advice, Partners, Running your business, infographic, Banking, Business advisor, business management

Why good information is critical when selling a business [infographic]

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

When selling a business, it's important to put yourself in the position of a buyer.

Ask yourself: 'If I was considering buying this business, what would I want – and need – to know in order to make an informed decision about the opportunity?'

As advisors, we understand that good information on a business opportunity is critical to a successful sale.

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Topics: Selling your business, infographic, business advice, Business selling, business broker, Parramatta, Orange NSW, sell a business

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

5 steps to buying or starting your own business [infographic]

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

Owning your own business can be very rewarding, both professionally and personally, but it’s not all beer and skittles!

As a business owner you take on a lot of risk, you rarely get a mental break – especially in the early days – and you may have to get used to unpredictable earnings.

If you’re considering buying or starting your own business, take a look at the following infographic for some first steps to guide your early decision making. 

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Topics: Buying a business, Advice, infographic, Starting a business, Business advisor, 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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