New Year resolutions often don’t last long because they don’t dovetail with what’s truly important to us. Now that we’re a month into the year, it’s a perfect time to reassess your genuine priorities. I’d venture that, at the top of that list, is the well-being of your family – including a secure future – …
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Whether you are focused on growing your company in the present or preparing for your eventual exit, your success on both fronts hinges on maximizing the value of your business. Every business owner will eventually exit – whether it’s planned or not. Savvy business owners recognize this truth and work towards closing the gap between …
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With a new year around the corner, business owners are focused on planning. Facing political, economic, and global unknowns seems to have become the norm so it’s important to know where to turn your attention. I advise clients to prioritize three critical elements of their business – strategy, budget, and taxes – which were the …
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In my work as an exit strategist, I’ve heard multiple reasons from business owners for not starting an exit plan, often because it seems too far off to think about. Many haven’t considered the immediate rewards it yields, including a thorough business plan that can be used to support growth in their company today! So, …
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We kicked off our most recent Peer Advisory Board meeting with a special presentation focused on four topics that can help business owners hone their most valuable asset: people. Our guest speakers, Scott Barth and Leeanne Super, shared their expertise about ways a multi-generational workforce, motivation, recognition, and ownership thinking play into the success of …
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When a client chose a date ten years out for her expected exit, she asked about next steps for developing and working an exit strategy. We started by documenting foundational information about her company and her desire to sell to an outside third party. She had the value of her company assessed and determined what …
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My first suggestion to business owners who want to start exit planning is to pick a target date for their exit. Their next question is, “Now what?” My advice – get an accurate determination of the current value of your business, forecast the amount needed to meet your financial objectives upon and after your exit, …
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Last month I was one of three presenters at a Lunch & Learn for business owners. The content focused on maximizing the value of one’s business, either in preparation for sale or exit, or as part of a growth strategy. Along with two colleagues, Ken Galecki and Rick Arthur, we shared our expertise for takeaways …
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Accurate, timely financial statements are critical to all aspects of business, from day-to-day operations to informing major decisions. Yet even the most thorough financial documents are of little benefit if you don’t understand how to read and interpret them. Developing the skills needed to decipher your financial statements was the focus of discussion at our …
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Bryan Schwartz, founder of Schwartz Law, LLC, was our guest speaker at a recent Exit Planning Peer Advisory Board meeting. He spoke to the group about the benefits of a legal audit and how to prepare for one. A legal audit, which equates to a legal check-up for your business, is recommended at various stages …
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