​A cash flow shortage is the number one reason why small businesses fail, but even mid-sized and large companies need smart cash flow management to survive and thrive. Insufficient cash forces companies to make difficult decisions about who is going to get paid and when. Unfortunately, this can lead to vendors and suppliers being paid […]

As a business owner, financial responsibilities can be complex, especially when it comes to tax obligations. One crucial aspect that often surfaces is dealing with 1099s. In this quick guide, we’ll discuss the common scenarios in which a 1099-NEC might be issued: It’s essential to keep accurate records of payments made and consult IRS guidelines […]

Launching a new business venture in 2024? Congratulations on taking the plunge into entrepreneurship! To ensure a smooth takeoff, here’s a comprehensive checklist that will guide you through the crucial steps of launching your dream business. 1. Craft a Solid Business Plan: A roadmap is essential. Outline your business idea, target market, competition analysis, and […]

In the ever-evolving environment of business, setting strategic goals is a key driver for success. As a business owner, it’s essential to navigate the path to growth with precision. One effective method for goal setting is the SMART criteria: Specific, Measurable, Achievable, Relevant, and Time-bound. Here’s how you can harness the power of SMART goals […]

The start of the year is a good time to take stock and plan your next business moves. Whether you’re a new entrepreneur, or reaching the next stage of growth, these tips can help you make 2024 your best year yet. By implementing these tips, you’ll be well on your way to a more successful […]

As a successful business owner, you know that your business has value. It likely supports the lifestyle you and your family live. It provides a paycheck and perhaps benefits to the people you employ. The products or services you provide are meaningful to your clients. But if someone asked you, “How much is your business […]

Many advisors to business owners think a sale to key employees is a great option for companies that don’t reach the “sale to third party” threshold. Typically, they define this threshold as the point at which a business can be sold for (largely) cash. Depending on a variety of factors, this threshold is usually around […]

“My investment advisor suggested that I sell my company to an ESOP. Is that a good idea?” “My estate planning attorney recommended that I begin giving my business to my children. What do you think?” “I’m getting tired of running my business every day. My accountant thinks a sale to a third party is a […]

Building a business is challenging enough as it is. With the right Advisor Team, you can focus on business challenges while your advisors create strategies that help you compound your success in the future. But how do you build an Advisor Team that works for you instead of against each other? Consider the story of […]

Successful business owners do a lot of things well, and they make it look easy. This is often a sign of well-running processes and years of discipline. However, it can also be a trap for successful business owners who intend to pass their businesses onto their children or business insiders. While you may love the […]