How to improve your cash flow with suppliers [video]

Posted by James Price | JPAbusiness on 07-Oct-2020 02:00:00

Cash flow is the lifeblood of a business and careful cash flow management has never been more important than it is today.

From a day-to-day point of view, the more cash surplus in your business, the more value in your pocket. Having surplus cash that can be used as working capital also gives your business more options to grow, invest and change.

Taking the longer-term perspective, ability to generate cash is a critical component when it comes to determining the value of the business should you wish to exit. 

In this video I'm focusing on how you can improve your cash flow through your dealings with suppliers.

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Topics: Cash flow, Video, Suppliers, business advice, Business advisor, managing suppliers, James Price, JPAbusiness, Parramatta, Central West NSW, liquidity, business transaction advisor, cashflow management

How to manage customer and supplier risk when buying a business

Posted by James Price | JPAbusiness on 16-May-2018 02:00:00

Last month I wrote a blog about how to avoid losing key staff when buying a business.

In this blog I'm sharing advice on how to manage another critical risk when buying a business: customers and suppliers.

This risk relates to key customers and/or suppliers taking flight from the business you’ve purchased in the early stage of the transfer.

In doing your due diligence it’s very wise to look at both supplier and customer concentration risk.

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Topics: Buying a business, Customers, Due diligence, Suppliers, business advice, risk management

How to ensure your suppliers add value to your business

Posted by James Price | JPAbusiness on 14-Mar-2018 02:00:00

Suppliers are key value drivers in a business.

Suppliers make up a large part of the cost of doing business, but more importantly they assist in providing consistency of whatever product or service you deliver.

The degree to which you’ve got that continuity locked down will allow you to drive more value in your business.

If you’re servicing a customer and you know you can be predictable and deliver at a certain time, then you’re much better at pitching to that customer against a competitor.

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Topics: Business Value, Suppliers, business advice, business management

Business transfer issues: Customers, Suppliers and Stock [blog]

Posted by James Price | JPAbusiness on 21-Oct-2016 03:03:00

From the JPAbusiness Strategic Business Insights blog archives

In this blog we examine the next three categories in the JPAbusiness Business Transfer ChecklistCustomers, Suppliers and Stock.

Customers

In our previous blog we talked about the financial issues related to customers, but there is a separate issue regarding customers and that is ‘relationships’.

A business may have 50 regular and loyal customers and yet 15 of those may represent 60% of the sales on a regular basis.

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Topics: Customers, Business transfer, Inventory, Suppliers

How to manage the 3 risks of a business purchase [blog]

Posted by James Price | JPAbusiness on 04-Aug-2016 04:30:00

 

There is no reward without risk...

Risk and return are two sides of the same coin and most people looking to purchase a business, if it’s not simply to replace full-time employment, should be targeting a return of between 20% and 50% on their investment over time, depending on the business and other factors.In our experience, the risks associated with business purchases fall into three categories:

  1. People
  2. Customers, Suppliers and Market Dynamics
  3. The Value Exchange
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Topics: Business Value, Buying a business, Advice, Customers, Staff, BME, Starting a business, Suppliers

6 business lessons from my day in court [blog]

Posted by James Price | JPAbusiness on 01-Aug-2016 05:30:00

I recently spent the day in a local courthouse as a witness in a civil court contractual dispute between one of my clients and a service provider

Turns out my client won the case, but I don’t think any of us enjoyed the experience. Going to court can be a costly and sobering exercise. The biggest revelation came at the outset of the day when the judge used his opening remarks to assure both sides that one of us would lose, and urged us to go away and try to reach a settlement rather than continue the proceedings.

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Topics: Advice, Legal, contracts, Suppliers

 
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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