Creating Value in Privately Held Companies “As shocking as it may sound, I believe that most owners of middle market private companies do not really know the value of their company and what it takes to create greater value in their company … Oh sure, the owner tracks sales and earnings on a regular basis, […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: DEALING WITH THE EMOTIONAL FALLOUT
Dealing with the Emotional Fallout of Selling Your Business “Congrats on selling your business,” a longtime mentor said the day after I signed the paperwork. “Now get ready for a depression.” That was seven years ago. At the time, I was confused by this remark. I had just made what felt like a pile of […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PLAN FOR YOUR FAMILY’S FUTURE
Plan for Your Family’s Future Now that you have made some money from the sale of the business, you should scrutinize any plans you have made for your family’s future and for your estate. Although you may have already taken care of some of the following items, you will want to revisit these eight: Make […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: MINIMIZE YOUR TAXES
Minimize Your Taxes on the Sale One of the major considerations connected with the sale of your business concerns minimizing taxes that result from the disposition. Here are 10 ways to do this: Structure the Transaction Beneficially If you are getting stock instead of cash from the sale of the company, you should be able […]
SO YOU JUST SOLD YOUR BUSINESS, NOW WHAT?: PROTECT YOUR PROCEEDS
Protect Your Proceeds The most important step you should take after successfully selling your business is to protect the proceeds. Here are three ways to do that: Diversify Your Holdings If you received cash from the sale, immediately consider a diversification plan for the proceeds. Think about a combination of mutual funds, municipal bonds, money […]
Succession Planning: 3 Steps to Secure Your Company’s Future
Even if you’ve just acquired your business, it’s important to remember, that when you’re ready to sell your business or pass it on to your family member, you’ll want to have taken steps to ensure its continued success once you hand over the reins. Succession planning is the critical process to help you do just […]
How Many Hours Should Entrepreneurs Work Per Week?
Becoming an entrepreneur takes hard work. For some, becoming an entrepreneur means leaving their job and pursuing a path outside the corporate world. Others might start a business directly out of college or as a side gig while they work at a different company full time. Regardless of how someone becomes an entrepreneur, it’s going […]
Entrepreneurs Define the Meaning of Business Success
Business success is different for everyone. Creating a strategy and outlining what success looks like for you gives you a way to measure your success. The main keys to success are hard work and persistence, no matter what business you’re in. Entrepreneurship can feel like you’re sailing a ship all by yourself; you’re not entirely […]
You Bought a Business…Now What? 5 Post-Acquisition Steps
Congratulations! You’ve just closed a deal to purchase an existing business. But what do you do next? If you’re investing in a franchise, your freedom to make operational changes is pretty limited, but if you’re taking over an independent company, you likely have a lot of new ideas you want to implement. Regardless, you can’t […]
Doing Business In Florida
The Sunshine State is home to the fourth largest economy in the nation. Its growth in 2018 significantly outpaced the U.S. at large at a rate of 3.5% to 2.9%. Small businesses are an essential part of the economic landscape in Florida, making up 99.8% of all businesses and employing 3.3 million employees, more than 42% of the […]
Business Goal Setting for 2020
S.M.A.R.T. Goal Setting for Your Business in 2020 As this year comes to a close, it is now the perfect time to think about the future of your company. As you’re setting goals for 2020, you may worry about whether you will achieve them over the next year. You may be stuck on what goals […]
Are You Thinking About Buying A Business In 2020? Here’s How to Qualify for a Small-Business Loan in 5 Steps.
Are You Thinking About Buying A Business in 2020? Here’s How to Qualify for a Small-Business Loan in 5 Steps If you’re thinking about buying a business in 2020, qualifying for a small-business loan is easier when you’re prepared. Below is a to-do list that will help you get the cash you need to grow […]
ARE YOU THINKING ABOUT SELLING YOUR BUSINESS?
Are you thinking about selling your business? Whatever reason you have for selling your business — finances, family, fatigue — you’ll want to assemble the right group of professionals to assist you through the sale process, know which essential documents to have on hand, and understand how to value your business assets to ensure a successful […]
6 Questions To Ask Before Buying An Existing Restaurant
Buying an Existing Restaurant – What to Know Before You Buy Buying an existing restaurant can be a great way to fulfill your dream of being a restaurant owner. You skip the difficult early years of getting a restaurant off the ground. As with buying a restaurant franchise, you gain instant name recognition and a […]
Are You Looking To Buy A Real Estate Company?
Here are a few things to consider when you buy a real estate company: Why do you want to buy real estate company? Too often, I see brokers expanding for the sake of expanding and many times the results are disastrous. Have your considered the culture of the real estate company you want to buy? […]