Business owners often seek a business valuation after being prompted to do so by a 'significant event’, for example:
In this video I explain how valuation can actually be used as an ongoing management tool, adding value while you’re running the business and also potentially boosting value on exit.
Topics: Business Value, Valuations, Exiting your business, Video, Business advisor, business management, growth strategies, James Price, JPAbusiness, Parramatta
Business market appraisals and valuations are both robust assessments of a business’ worth and are appropriate for use in different circumstances.
In this video I explain the difference between a business market appraisal and a business valuation, and when each should be used.
Topics: Business Value, Advice, Valuations, Video, Business valuation, market appraisal, valuing a business, Parramatta, Orange NSW
The following video features 5 tips that will help you take a planned and measured approach to what may well be one of the biggest financial investments of your life.
They're each important in their own way, but I must admit Tip 2 – 'Have passion for the opportunity' – is a key one for me.
Owning a business can be difficult at times, but it's easier to withstand those challenges if you have a 'fire in your belly' for what you do.
Topics: Buying a business, Business Planning, Video, business advice, Business advisor, Parramatta, Orange NSW
In our experience dealing with clients over the years, we've found many businesses start as side projects.
In this video, James tells the story of a client whose 'side project' became a multi-million dollar transport business.
He also points out some risks to watch out for regarding business governance, structure and process issues when a business starts this way, and how to ensure they don't negatively impact the business' value down the track, when it comes time to exit.
Topics: Business Value, Family business, Business Structures, Video, business advice, Business advisor, Governance, Parramatta, Orange NSW
No one knows your business like you do and, whether you choose to sell it yourself or work with a broker or advisor, you will play a key role in the marketing process.
Your extensive knowledge of the business needs to be translated into marketing material that will inform potential purchasers of the opportunity your business presents.
The following video contains 4 key tips for marketing a business for sale: what they are and how they can contribute to the ultimate success of a sale.
Topics: Selling your business, Advice, Brand and marketing, Video, selling a business, Business advisor, Parramatta, Orange NSW, marketing
Business valuation is not an exact science and nor is it a simple science. However there are some factors you should always consider when assessing a business’ value.
The following video lists 3 key factors to consider when valuing a business and 3 questions you need to ask to uncover this important information.
Topics: Business Value, Advice, BME, Video, business advice, Business valuation, Business advisor, Business maintainable earnings, Parramatta, Orange NSW
The annual business planning process should address three critical questions about your business:
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.
Topics: Business Planning, Video, business advice, Business advisor, James Price, strategic planning, annual business plan, Parramatta, Orange NSW
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.
Topics: Buying a business, Business Planning, Template, Video, business advice, Parramatta, Orange NSW
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.
Topics: Business Value, Advice, Valuations, Video, business advice, business management, market appraisal, Parramatta, Orange NSW
It’s not uncommon for people to present really well in a job interview, be offered the position and then later be found ‘wanting’ when it comes to fulfilling the particular role they’ve been recruited for.
Similarly, there are many people who don't present well in interviews and subsequently miss out on jobs, who actually have a lot of substance in practice and would be valuable team members.
So how do we take the emotion out of the recruitment process and minimise the impact of our own biases and prejudices when dealing with these different personality types?
In this video I'm sharing 4 tips to help remove that bias from the hiring process.
Topics: infographic, Video, business advice, Business advisor, staff recruitment, hiring staff, James Price, Parramatta, Orange NSW
