Video: How to create an Annual Business Plan

Posted by James Price | JPAbusiness on 13-Nov-2019 02:00:00

The annual business planning process should address three critical questions about your business:

  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?

In this video I list four aspects of your business which you need to consider during the annual business planning process – Operational, Financial, Risks, People management – and drill down a little into some issues you should cover under each of those four elements.

Continue reading...

Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning, annual business plan, Parramatta, Orange NSW

How to show your bank you're a sure thing [infographic]

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

When considering whether to ‘take a risk’ on your business and fund it, a bank or financier will usually focus on three S’s:

  • Servicing
  • Security
  • Surety.

The infographic below sets out 7 factors which contribute to your ‘surety’ in the eyes of a bank or other financier:

Continue reading...

Topics: Banks and lending, business advice, James Price, seeking finance, Parramatta, Orange NSW, business finance

How our planning sheet can help business buyers [video]

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

Buying a business is a major investment and it can also be a very time-consuming activity.

In this video James explains how the Buying a Business Planning Sheet can help save time and also give direction to your purchase planning.

Continue reading...

Topics: Buying a business, Business Planning, Template, Video, business advice, Parramatta, Orange NSW

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

How often should I have my business valued? [video]

Posted by James Price | JPAbusiness on 16-Oct-2019 02:00:00

Valuations are extremely useful management tools for business owners looking to maximise their current business performance and long-term value.

A valuation can help you identify what you are currently doing that is:

a) adding to your business value, and

b) detracting from that value.

My advice is that, if your business is greater than five years old, you should have it valued on a reasonably regular basis, say every 2–3 years depending on your growth track and the external environment the business is experiencing.

Continue reading...

Topics: Business Value, Advice, Valuations, Video, business advice, business management, market appraisal, Parramatta, Orange NSW

8 tips for conducting due diligence [infographic]

Posted by James Price | JPAbusiness on 09-Oct-2019 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.

Continue reading...

Topics: Buying a business, Due diligence, infographic, business advice, James Price, Parramatta, Orange NSW

How to spot occupational fraud red flags [infographics]

Posted by James Price | JPAbusiness on 09-Oct-2019 02:00:00

A couple of years ago the Australian Financial Review quoted Detective Superintendent Arthur Katsogiannis, then commander of the NSW Police fraud and cybercrime squad, in a story about corporate crime.

Superintendent Katsogiannis said that in 100% of corporate crime investigations he had been involved in, corruption goes hand-in-hand with a “compromised personal life”.

Gambling, drinking, drug taking, living beyond their means and inappropriate sexual conduct were all indicators of a personal life as compromised as the perpetrator’s professional life.

Continue reading...

Topics: infographic, Employee fraud, business advice, James Price, fraud prevention, Parramatta, Orange NSW, managing employees

What determines your Business Maintainable Earnings? [infographic]

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

When determining what a small to mid-sized business is worth, Business Maintainable Earnings (BME) is one of the key concepts the market will consider.

BME reflects the ability of a business to generate earnings into the future.

Remember, as a buyer you don’t want to pay for opportunity you will create in the future; unless there is a strategic element to the purchase, ideally you only want to pay for what has been built up by the vendor.

Continue reading...

Topics: Business Value, Buying a business, infographic, business advice, Business valuation, Business advisor, Business maintainable earnings, James Price, 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. 
 
 

 

JPAbusiness

Topic

more

Recent Posts