Running a successful business is a continuous challenge. Changes in technology, marketing, and e-commerce can be a hurdle for some business owners. One area that they should not neglect, though, is cyber security. A data breach is a very costly event, and it can sink a company. For this reason, owners need to know how…
Our last several blogs have covered the need for businesses to carefully monitor their financial status and strategize for the future in order to better meet their goals. Too often businesses run with a generic goal of “making money” or “becoming more profitable.” While there’s nothing wrong with making money, this is a short-term goal….
In our last blog, we talked about why your business needs financial projections. Financial projections are an important part of financial planning. Yet, as with any type of goal setting, the most successful people don’t just plan, they strategize, examine all the angles of their goals and their environment, and continually shift their strategy as…
How having a financial strategy can benefit your business and its shareholders, along with other objectives that may be essential to the sustainability of your business!
Do you have specific goals for growing or improving your business? Are you planning to hire more employees, expand your product line, or add to or renovate your space? In order to plan for the future, you will need to learn to create detailed financial projections. Financial projections provide the insight necessary for business owners…
Do you have specific goals for growing or improving your business? Are you planning to hire more employees, expand your product line, or add to or renovate your space? In order to plan for the future, you will need to learn to create detailed financial projections. Financial projections provide the insight necessary for business owners…
With the impending tax increases for 2021, many companies will be looking for ways to minimize corporate taxes and maximize cash preservation. Other companies may be looking for ways to create liquidity for shareholders who plan on transitioning or reducing the ownership.
When business owners begin succession planning for the future of their companies, it is important to consider what strategies need to be prepared in the event you must transfer ownership of your business due to one of the five Ds. Knowing these and having a plan in place for each can ensure that your business…
In this chat, we will covered the 5 D’s (death, divorce, disability, distress and disagreement) and why you should be aware of them. They are the topics that no one wants to talk about but that are fully necessary to prepare for. Understanding why they would cause you to exit your business.
A cohesive leadership team can be a powerful force, leading organizations to new heights of success. Yet building such a team takes a deliberate commitment to identifying the right leaders to fill positions and then instilling the behaviors and values necessary for continued business success. A cohesive team will trust each other enough to challenge…