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Equality and Fairness in Transfers to Kids
[et_pb_section bb_built=”1″ next_background_color=”#000000″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.19.3″] Stan Briggs was perplexed when he told his advisor, “My son, Patrick, has worked in the business for the last twelve years. In that time, the business has tripled its revenues and its profits. I’ve started to think about scaling back my activity and I realize how important it is…
Read MoreThe Most Important Exit Goal
[et_pb_section bb_built=”1″ next_background_color=”#000000″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.19.3″] Over the years we’ve found that the most effective way to describe the goal-setting process to owners is to separate exit goals into three categories. Foundational: What must you attain before exiting or losing control of the business? Universal: What do you (and almost all other owners) wantto achieve upon exiting? Aspirational:…
Read MoreBusiness Owners Who Plan Ahead Increase Success
[et_pb_section bb_built=”1″ next_background_color=”#000000″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.19.3″] “To will is to select a goal, determine a course of action that will bring one to that goal, and then hold to that action till the goal is reached. The key is action.” — Michael Hanson If the thought, “Why create an exit plan when I can’t sell my…
Read MoreTimeline For Leaving Your Business
Your exit should not be an event, but a process that takes place over time. Growing your business and your other significant achievements in life were done in multiple steps over a period of time. Why would transferring your business be done in a single step at a particular moment?
Read MoreMotivate and Retain Key Employees
Get More Bang For The Buck: Use Cash Bonuses And Golden Handcuffs To Increase Business Value Too often, owners only discover that the compensation plans they’ve put in place for key employees are sadly inadequate when those key employees leave their companies for greener pastures. The departure of one or more of these key employees…
Read MoreThe Legal Audit
Most business people are familiar with the audit performed by their accountants. The purpose of an accounting audit is to verify the accuracy of the financial information appearing on the company’s financial statements. A legal audit is similar in that the legal affairs of a business are subjected to an independent rigorous review by a…
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