What is private equity and can it help my business?

Posted by James Price | JPAbusiness on 13-Oct-2021 02:00:00

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.

This blog comes from Chapter 1 of the eBook, in which Gareth answers the following questions:

  • What is private equity and how does it work?
  • What type of business opportunities does private equity look for?
  • As a business owner, how can I benefit from private equity?
  • As a private equity investor, what affects your appetite to invest?
  • As a business owner, how do I become private equity ready?
  • Where do I go for more information?
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Topics: Succession planning, business advice, Private equity, business management, growing your business, growth strategies

How to plan when you're not a natural planner [cheat sheet]

Posted by James Price | JPAbusiness on 22-Sep-2021 02:00:00

If you’ve been reading my blogs for a while now, you know I love a well-written business plan.

I encourage my business advisory clients to write things down, even in a summary sense, because it’s a good way of pressure testing your objectives and communicating them to your team.

Despite my penchant for written plans, I do know successful business owners who don’t write things down and still manage to be supreme at operational and business planning.

They do, however, employ a number of other important techniques, some of which we’ve summarised in the following cheat sheet:

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Topics: Business Planning, Succession planning, business advice, business management, growth strategies, strategic planning, annual business plan, business plan

How to achieve best practice in succession planning

Posted by James Price | JPAbusiness on 04-Aug-2021 02:00:00

Absolutely core to good succession planning and building a good team around you, is that each team member knows:

  • what’s expected of me;
  • where we’re headed, and
  • what success looks like when we get there.

If your goal is to be a business owner working on the business, rather than in the business, and to have a team of people working in concert for you, then one way to approach this goal is to consider the analogy of an orchestra conductor.

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Topics: Business Planning, cheat sheet, Template, Succession planning, staff management, business advice, managing employees, business succesion

How to create a business plan

Posted by James Price | JPAbusiness on 23-Jun-2021 02:00:00

Business plans don’t have to be lengthy documents, but they do – in our opinion – need to be written down: if you haven’t written it down, you haven’t committed to it.

This short video series covers some key concepts related to business planning, including:

  • Why does my business need a plan?
  • How often should I review my business plans?
  • What to include in a Strategic Plan
  • What to include in an Annual Business Plan
Continue reading...

Topics: Business Planning, Template, Video, Succession planning, business advice, Business advisor, James Price, strategic planning, JPAbusiness, annual business plan, Central West NSW, business plan

How to build a great team [infographic]

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

Developing a reliable team – and keeping them – is one of the biggest challenges in business.

Everyone has their own motivations for the job they do, so there is no one-size-fits-all solution.

However over the years of helping business owners build and retain effective teams, we've identified several key actions that can help drive success in this area.

We've summarised them in the following infographic:

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Topics: Employment and recruitment, Business Planning, Staff, Starting a business, Succession planning, staff management, business advice, James Price, professional development, JPAbusiness, Parramatta, staff training, Central West NSW

Don't let over-reliance on key personnel erode business value [video]

Posted by James Price | JPAbusiness on 31-Mar-2021 02:00:00

Many businesses, particularly small to mid-sized businesses, rely heavily on one or two key individuals for the business to operate.

These individuals are often the business owners and they may be reluctant to delegate control and decision making for a variety of reasons.

Whatever those reasons, the result is centralised decision making, knowledge and experience, which are not easily transferable in a business sale.

Ultimately, of course, that impacts business value – and not in a good way!

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Topics: Business Planning, Valuations, Template, Video, Succession planning, Business valuation, Business advisor, JPAbusiness, Parramatta, succession, business succession, scorecard, business value drivers

How to use succession planning to boost business value [template]

Posted by James Price | JPAbusiness on 10-Feb-2021 02:00:00

Succession planning is the process of identifying and developing internal staff who have the potential to fill key business leadership positions should existing leaders – including yourself – leave the business.

It’s about creating a back-up system for your people resource and it should start the minute you take on a business’ ownership, whether you buy it or start it from scratch.

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Topics: Business Value, Business Planning, Template, Succession planning, business advice, Business advisor, James Price, JPAbusiness, Parramatta, Central West NSW, business succession, scorecard

Why building sustainable business value is a marathon, not a sprint

Posted by James Price | JPAbusiness on 25-Nov-2020 02:00:00

One of the lessons I’ve learnt over 35 years of running my own businesses – and also advising on and observing others – is that very little value is generated in a ‘fast foot race’.

Good things come from time, careful execution, trial and error, and patience.

I'm spending a few hours in the gym these days trying to tone and trim up a bit. As a tall guy who’s less than perfectly coordinated, there are some exercises that are a bit of a challenge – barbell squats for one. My form is not a picture of symmetry and grace.

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Topics: Business Value, Business Planning, Succession planning, business advice, Business valuation, Business advisor, JPAbusiness, Parramatta, Central West NSW, business transaction advisor, sustainable value, business sustainability

Capital gains tax when transferring a business to a family member

Posted by James Price | JPAbusiness on 18-Nov-2020 02:00:00

The key CGT issue when transferring assets in a non-arm’s length transaction (i.e. the sale price may not be at fair market value) is the market value substitution rules.

These rules basically mean when you’re selling assets and the transfer is deemed to involve parties not acting on an arm’s length basis, then the CGT rules impose what would be a fair market value on the transaction.

[This information comes from our eBook: Capital Gains Tax 2.0 – Issues to consider when selling your business.]

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Topics: Family business, Capital gains tax, Succession planning, business advice, eBook, Business advisor, tax minimisation, JPAbusiness, Parramatta, taxation, Central West NSW, business succession

How to talk with family about succession and estate planning

Posted by James Price | JPAbusiness on 21-Oct-2020 02:00:00

When it comes to succession and estate planning, it’s never too early to start thinking – and talking – about it.

However, some business owners prefer not to confront their own mortality and just continue on running their business while avoiding thinking about, or planning for, the inevitable i.e. their ‘exit’. This creates the perfect environment for conflict among those left behind.

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Topics: Business Planning, Succession planning, business advice, Business advisor, James Price, JPAbusiness, Parramatta, estate planning, Central West NSW, business succession

 
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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