Tips For Business Wealth Management Business owners work hard at perfecting their business to make a living, earn a profit and ultimately sell or transition the business to another group of owners or family members. At the end of the year, our income statements and balance sheets generally indicate whether we were successful. You work incredibly hard to streamline operations, … Read More
The Top 6 Things I Would’ve Done Differently with My First Business
Experience gives us knowledge. Unfortunately, this knowledge can come at a very hefty price. In the case of my Partners and me, it resulted in the bankruptcy of our office furniture business. We did a lot of things right and enjoyed great successes for most of the time I was an owner. We were never afraid of change. In fact, … Read More
You Never Seriously Thought About Selling The Business. Until Now
You Never Seriously Thought About Selling The Business. Until Now Like many of our Clients you may have gone south for the holiday break. You caught up with winter friends. Some sold their businesses a while ago, some sold recently and this is their first “I don’t have to go back” season and others are like you, still thinking about … Read More
How My Last Business Wasn’t a Failure, but Instead a Really Expensive Life Lesson
I want to think my perspective on this subject is unique. In fact, it’s the basis for my current business. I believe that not unlike many business owners, funding my retirement was largely predicated around the success of my former business and how I would transition that business into my golden nest egg. Well, the fact that it was … Read More
How the Individual Pension Plan Helps Business Owners Retire Wealthier?
In life and business, failure teaches us some incredible lessons. Many of the ideas that I talk to business owners about today come from the mistakes that I made in my first business. In one breath, I wish that I could have started my current business 20 years ago, however, if I had not experienced the challenges and hardships experienced … Read More
5 Types of Business Risk Every Business Owner Should Absolutely Prepare For
Ignoring Business Risks Could Mean Disaster for Your Family, Your Retirement, Your Business and Your Employees As business owners, we expect and accept a certain amount of risk. If there weren’t any risk, then everyone would go into business for themselves. Like in life as in running a business, there are smart risks, calculated risks and completely random risks. Some … Read More
What are the 6 Things I Need Business Protection Insurance for?
Reduce Business Risks by Implementing Business Protection Insurance for Management Team and Key People As Business Owners, we all assume certain business risks. In my discussions with business owners, I’m astounded by the types of business risks that some owners are willing to make. Ironically, none of these individuals I would consider stupid, overly aggressive or brazen. Some of these … Read More
What are the Keys To Planning a Successful Business Exit Strategy?
Can Your Business Exist Without You? Can You Exist Without Your Business? I meet with an average of 10 business owners every week. There’s a varied cross-section of industries, size of company and expectations of growth. Each owner’s idea of success is very different, as well. The one common denominator amongst them, however, is to leave a legacy and to … Read More
7 Succession Planning Best Practices for Business Owners
Are Your Business Succession Plans in Place? In my dealings with business owners over the years, there are a number of similarities that consistently are apparent in dealing with company succession plans: there often isn’t an absolute succession plan in place; not enough time exists between planning an exit strategy from their business and executing upon it; and part of … Read More
Is It Time To Discover Where Your Finish Line Starts?
The two things the last few years has taught me is perspective and resiliency. I’ve had an interesting business career thus far. Some elements blessed and other elements, well, not so much. To say I’m wiser for it would be an understatement. I’ve been lucky and unlucky. I’ve been fortunate to have some great successes and some pretty spectacular failures. … Read More