How long does it take to sell a business? (Video)

Posted by James Price | JPAbusiness on 31-Jul-2019 02:00:00

The time it takes to sell a business is heavily influenced by how prepared you and your business are for an open market, or trade, sale.

In this video I'm sharing 3 basic things you should have done before embarking on a sales process:

  1. Gathered and prepared some of the key information about your business that a purchaser will want to examine
  2. Sought independent advice on the market value of your business
  3. Sought professional advice on the potential tax and other implications of selling. 
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Topics: Selling your business, Business Planning, Video, Succession planning, business advice, selling a business, James Price, Parramatta, Orange NSW

3 pieces of financial info to share when selling a business [infographic]

Posted by James Price | JPAbusiness on 31-Jul-2019 02:00:00

We are often engaged by business buyers to assist them in undertaking due diligence on target businesses.

In the early stages of that process I often come across vendors who have an accountant, business broker or other advisor who is very coy about sharing what I would call basic financial information on the business.

If you are seeking a purchaser’s genuine offer on your business – whether non-binding or binding – at a minimum, you should be prepared to share the following:

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Topics: Selling your business, Advice, selling a business, Business advisor, James Price, Parramatta, Orange NSW, financials

Follow our 10-step business buying process [infographic]

Posted by James Price | JPAbusiness on 03-Jul-2019 02:00:00

 

Step 1: Imagine the process of assessing different businesses for sale as a funnel

The top of the funnel is wide and has a screen which sifts out businesses which don’t meet your requirements.

These requirements may relate to:

  • Geography
  • Size and turnover
  • Earnings
  • Price
  • Product or service
  • Customer base, etc.

Once the various sale opportunities have been ‘sifted’ you are left with the select few businesses which meet your requirements. 

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Topics: Buying a business, Free download, infographic, business advice, Business advisor, James Price, business buying funnel, Parramatta, Orange NSW

How often should I review my business plans? [video]

Posted by James Price | JPAbusiness on 08-Aug-2018 02:00:00

In this video I give my view on how often you should review your business plans and, importantly, who they need to be shared with.

Sharing a plan with your team will:

  • ensure goal alignment
  • help create a positive and participative business culture
  • test the plan by exposing it to fresh eyes.

As we always say, a good plan is a shared plan.

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Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning

What to include in an Annual Business Plan [video]

Posted by James Price | JPAbusiness on 25-Jul-2018 02:00:00

In this video I list four components of an annual business plan and drill down a little into some of the business issues you should cover under each of those four elements.

An annual business plan should encompass three core concepts:

  1. Where is the business now?
  2. Where do we want the business to be in the future?
  3. How are we going to marshal the resources we have and which we can influence to get there?
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Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning

Free checklist: Are you the 'right fit' for business ownership?

Posted by James Price | JPAbusiness on 18-Jul-2018 02:00:00

If you're thinking about buying or starting a business – moving from the employed workforce to self-employment – take a look at our free Business Owner's Checklist.

The checklist features 10 common attributes our team tends to find in people who successfully build and run businesses.

Among these attributes are:

  • persistence
  • ability to deal with uncertainty, including extreme highs and lows
  • ideas person, with an eye to commercialisation and reality
  • self-confidence, but not arrogance
  • someone who can trust others.
Continue reading...

Topics: Buying a business, Free download, Template, business advice, Business advisor, James Price

The 10-step business buying process [infographic]

Posted by James Price | JPAbusiness on 18-Jul-2018 02:00:00

 

Step 1: Imagine the process of assessing different businesses for sale as a funnel

The top of the funnel is wide and has a screen which sifts out businesses which don’t meet your requirements.

Continue reading...

Topics: Buying a business, Free download, infographic, business advice, Business advisor, James Price, business buying funnel

4 components of a Strategic Plan [video]

Posted by James Price | JPAbusiness on 11-Jul-2018 02:00:00

A business' Strategic Plan establishes its strategic direction and will usually cover a period of one to five years.

I like a Strategic Plan to focus on a period of three years because, in today’s volatile world, things get a little hazy after three years.

In this video I list four key components of a Strategic Plan.

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Topics: Business Planning, business advice, Business advisor, James Price, strategic planning

Why does my business need a plan? [video]

Posted by James Price | JPAbusiness on 04-Jul-2018 02:00:00

As a business owner or senior manager, you can’t plan for every eventuality, but you can plan to withstand shocks. 

In this video I explain that business plans don't have to be excessively large or detailed, but they do need to exist in order to demonstrate your commitment to your business goals.

Continue reading...

Topics: Advice, Business Planning, Video, Business advisor, business management, James Price

 
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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