Financially Simple™
Helping thousands like you start and grow their businesses with the ultimate goal of bringing maximum value at the time when the owner wants to retire.
January 15, 2019
You have heard me say that leaders motivate and inspire others. They look into the future and see the big picture of the company. At this point, you may be thinking, “That sounds like a manager to me.” Well, that’s not exactly correct. Management guru, Peter Drucker talked about the distinction between managers and leaders. Specifically, he said, “Management is doing things right. Leadership is doing the right things.” I realize that there is little difference between managers and leaders in Drucker’s play on words. However, there are distinct differences between small business leaders and managers.
January 14, 2019
You’ve probably heard the term pro forma before, and maybe you even have an idea what it is. According to the Business Dictionary, pro formas are “assumed, forecasted, or informal information presented in advance of the actual or formal information.” That’s the basic definition, but what does that mean? In a nutshell, you’re taking historical numbers over the last few years, and you’re trying to project them forward into the future. You’re using a spreadsheet to create pro forma financial statements.
January 10, 2019
When it comes to leadership, there’s no expert I rely on more than American author and pastor John C. Maxwell. As a companion book to his 21 Irrefutable Laws of Leadership, Maxwell wrote The 21 Indispensable Qualities of a Leader Becoming the Person Others Will Want to Follow. I’ve got to tell you. This is one of the top 10 books I recommend business owners read. For me, it’s powerful. So much so that I’m going to share with you my take on what I learned from the book, as a Certified Value Growth Advisor… the list of leadership qualities of successful small business owners.
January 9, 2019
As a business owner, I often think my business is doing great and every aspect of it is running beautifully. It reminds me of an old adage my dad used to say, “Son, you never tell a woman that the baby is ugly or you might get slapped.” However, that’s a problem for business owners looking to succeed. Mismanagement in business is clearly visible. Our “baby” is ugly as it can be and we don’t even realize it. Eventually, we find out our business isn’t as attractive to potential buyers as we think. So, here are four strategic questions to ask yourself when approaching a potential exit plan. Even if your 10-15 years out, you need to know NOW if you are hurting your business’s value.
