When hiring new staff there are a number of issues that need to be dealt with by a business owner or senior manager before a recruitment interview process begins. It’s much harder to retrofit this important information into a recruitment process after the fact.
In the following video I list 3 key tasks you should undertake before you begin the interview process.
Topics: infographic, Video, staff management, business advice, Business advisor, staff recruitment, hiring staff, James Price, JPAbusiness, Parramatta, Central West NSW
We have helped some clients find the right business within six months while, for other clients, it has taken over three years.
The key phrase is ‘the right business’; I’m sure we could speed up the process if our aim was just to help our clients buy ‘a’ business, but that’s not our job.
In this video I explain why it's important not to rush into buying a business, and share four tips for managing risk during the business buying process.
Topics: Buying a business, infographic, Video, business advice, Business valuation, Business advisor, business broker, vendor due diligence, business buying funnel, JPAbusiness, Parramatta, Central West NSW, business buyer, business transaction advisor
Our guiding principle is that open and transparent communication with your staff is always a positive thing.
However, this is complicated by the fact selling a business is a sensitive issue and disclosing the fact it’s for sale can be detrimental to a business’ operations.
A pending sale can unsettle your team and, if it gets out in the market, it can cause difficulty with clients or suppliers.
In this video I share some strategies for sharing business sale plans with key staff:
Topics: Selling your business, Video, staff management, business advice, selling a business, Business advisor, James Price, JPAbusiness, business basics, Parramatta, Central West NSW
The simple answer is ‘no’, you don’t need a valuation to sell a business.
However, in terms of engaging JPAbusiness to sell your business, the answer is ‘yes’: we always recommend clients have their businesses independently and professionally valued before they invest time and money in a sale process.
In this video I explain how our first experience of helping a client sell their business – combined with our many years of subsequent experience – has shaped this philosophy regarding valuation and its role in a successful sale process.
Topics: Business Value, Video, business advice, selling a business, Business valuation, Business advisor, Business selling, JPAbusiness, Parramatta, client case studies, Central West NSW
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
