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 …

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What You Need to Know About Round Two PPP Funds

Coronavirus relief legislation passed in 2020 included an additional $284 billion for Paycheck Protection Program (PPP) loans to help small businesses pay employees and stay open. That second round of funding is now available. Some eligibility requirements have changed, and forgiveness rules have been eased a bit. In addition to first-time applicants, some businesses that …

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Now is the Time to Start Exit Planning – Here’s Why

Many business owners feel shaken by the impact of the pandemic on the business climate and may be questioning whether their vision of the future is still possible. One of the best antidotes to uncertainty is having a solid plan! It’s never the wrong time to start exit planning, and the more lead time you …

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What Does Re-Emergence Look Like for Your Business?

“Expect the best. Prepare for the worst. Capitalize on what comes.” – Zig Ziglar At our July Peer Advisory Board (PAB) meeting on Exit Planning, the discussion was around what business looks like as we re-emerge and get back to business in this phase of the COVID-19 pandemic. We focused on addressing what responsibilities business …

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Cultivating Company Culture in the COVID Era

Company culture – it’s a foundational element of your business. But with recent changes in how we do business, making culture a priority can be challenging. Employees may be working from multiple locations and on different schedules, how you connect with customers has likely changed, and potentially, you’ve pivoted in terms of the products and …

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How a CPA Can Help Keep Your Exit Plan on Track

Every business owner needs an exit plan in place many years before his or her intended exit date. Once your exit strategy and plan have been developed, an essential next step in the process is assembling a team of preferred advisors. Your exit planning expert will likely be at the hub of that team, interfacing …

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The Importance of a Buy-Sell Agreement – Even if Your Partner is Your BFF

A buy-sell agreement, also referred to as a buyout agreement or business continuity agreement, is a contract that provides for the sale of an owner’s share of a business should certain events occur. When you start a business with one or more partners, your intention is to be in it for the long haul. If …

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Goal Setting – You Can’t Exit Without It!

Business owners leave their companies under many different circumstances and each owner’s vision of the next chapter of their life is unique. But all have some common objectives when eventually exiting their business: To leave their business in the hands of successors you choose To leave on a date you pick To leave with the …

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Right People, Right Job – A Case Study of Transformation

#3 in a Series of Three Articles on Key Employees Having the right people in the right positions is the foundation for a cohesive culture, seamless operations and greater success. It’s especially true for those who are considered “key” employees, who are also critical to a successful exit strategy. My most recent blogs focused on …

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