Preparing Your 2023 Budget

As we step into Q4, it’s time once again to start planning for next year. One of the key components to strategic planning activities is preparing your budget. While it can seem like a time-consuming task, preparing an annual budget enables you to evaluate your spending, anticipate future needs, and stay on top of profits …

Read More »

Take Steps to Make Your Business Recession-Proof

Recessions happen more often than most people might think, and business owners are likely to experience several during their careers. The National Bureau of Economic Research (NBER) defines a recession as a significant decline in economic activity across the economy, seen as a decline in gross domestic product (GDP), real income, and wholesale-retail sales, among …

Read More »

Why You Need a Business Continuity Plan  

You’ve worked hard to build a strong, solid business. The ability to keep that business intact – even when an unexpected event happens – is born out of good planning. Although not pleasant to think about, all business owners should consider what would happen if they or a co-owner should die, become incapacitated, or otherwise …

Read More »

Planning for a Lasting Legacy

As a business owner, your company is dependent on you and your presence for its success. In return, your business supports your family and your personal goals. Even though you know that one day, you’ll step away from your business, the idea of preparing for a future you’re not yet ready for may be unnerving, …

Read More »

Creating an Organizational Chart with Ownership Thinking in Mind

The concept of “Ownership Thinking” is getting a closer look these days by businesses that are seeking solutions to attract and retain quality staffers in response to the Great Resignation. Founded on Brad Hams’ philosophy of building business wealth, the methodology focuses on instilling a mindset of ownership among employees. It can answer, in part, …

Read More »

Benefits and Strategies for Transferring Ownership to an Insider

I’ve recently had several clients successfully exit their businesses by transferring to a family member or key employee. Is transferring to an insider a consideration for you? The benefits are many. Most important is that this choice gives you a great deal of control over the exit process and therefore your ability to define your …

Read More »

Working Genius – Where Might Yours be Hiding?

Patrick Lencioni, author and creator of The Six Types of Working Genius, has identified six gifts, or talents, which are innate to individuals, regardless of their level of training or the positions they hold in a company. He refers to these as “Working Genius” qualities that all businesses need and maintains that, without them, a company …

Read More »

Case Study: Employee Retention Issues and Solutions

Employees are appreciating assets and a stable workforce is typically the #1 business value driver. Many companies are currently faced with this reality, challenged with retaining their existing workforce and attracting qualified workers to fill vacated positions. As the Great Resignation illustrates, the workforce as a whole is shifting. Workers’ priorities and real needs have …

Read More »

Don’t Overlook the Value of a Real Budget

It’s an essential element of business: preparing an annual budget enables you to evaluate your spending, anticipate future needs, and stay on top of profits and cash flow. It is also a time-consuming task that many business owners dread and postpone. The value of a data-based, dynamic, working budget can mean the difference in whether …

Read More »

Value Drivers Are Key to a Successful Exit – Wrapping Up the Top Ten

After completing assessments and documentation, choosing her exit date, and working with me to develop an exit strategy, one of my clients is now in the process of executing that strategy. Her primary focus at this stage is on evaluating and optimizing the performance of the value drivers that impact her business. Enhancing performance in …

Read More »