I’ve had several conversations with clients lately about how difficult it is to recruit and retain top talent. They tell me they’re paying more than twenty percent over what they were paying two years ago for the same position. The work demand has been there, so it has been the cost of doing business. The more significant issue is when … Read More
What Role Should Charity Have in the Sale of Your Business?
How are a charity and the sale of your business even related? One represents the ultimate capitalist success story, and the other is an organization set up to provide help and raise money for those in need. Here’s the link. For many business owners selling your business represents the most significant tax event in your lifetime. Charity represents an excellent … Read More
7 Reasons Why Keyperson Insurance is Strongly Recommended for Your Business
Last week, I wrote about buy-sell insurance because several business owners I talked to didn’t know what it was, let alone have it to protect their business. This week, I’m talking about keyperson insurance. Whereas Buy-Sell insurance uses insurance proceeds to buy out an existing partner’s shares of the company, keyperson insurance is an infusion of cash to help the … Read More
Why is Buy-Sell Insurance Critical to Your Business’ Success and Continuity?
I always ask business owners if they have buy-sell insurance or partnership insurance. Surprisingly, about 50% of them didn’t know what it was, let alone possess it. When I asked if they had a Partnership Agreement in place, most answered, of course. Some were more formalized than others, but most saw the importance behind having a partnership agreement. Then, I … Read More
How 6 Factors Will Help Your Business Survive and Thrive Through Succession Planning
For many entrepreneurs and business owners, their business represents their single largest asset. Depending upon the size of the business, it likely dwarfs the value of their home or other assets. Like selling your home, to attain the most significant selling price, you will have to invest some upfront time, money and energy into fetching the best asking price possible. … Read More
Wake Up Parents; You Could Lose Your Child to Suicide
Last month I was invited to speak to a group of grade 7 and 8 parents about teen mental illness, what I’ve learned of our dealing with Madeline and what we were hoping to accomplish with The Maddie Project. We scheduled a date. I provided a summary of the content, and an agenda was sent out to all parents to … Read More
Do We Have a Responsibility to the Entrepreneurs of Today and Tomorrow?
Being an entrepreneur can be one of the most rewarding and liberating things you can do as a career. Equally valid, being an entrepreneur can be one of the most frustrating and emotional roles you can choose to make a living. Schools are great at teaching you how to succeed when starting a new business, but do these schools properly … Read More
Does the Entrepreneur’s Journey to Greatness Need to be so Damn Lonely?
Do you ever wish you could have an honest conversation with a fellow business owner without judgement? I’m talking a completely candid; no holes barred, these are my deepest and darkest fears kind of conversations. I’ve been doing this entrepreneur thing for 30 years, and over the duration, I’ve experienced many emotions: joy, frustration, pride, anxiety, depression, optimism, sadness, fear. … Read More
My Accidental 10-Year Journey to Discovering Emotional Intelligence
There’s something ironic about me writing about Emotional Intelligence. Those who knew me 15-20 years ago would probably accuse me of not even knowing the definition of Emotional Intelligence. They wouldn’t be far off the mark. Since then, a lot has happened, including several devastating life events that have impacted the person I am and how I look at the … Read More