June 24, 2021
I received a listener question, recently, that made me take pause. I was thinking back on the show’s history, and I don’t believe I’ve ever addressed this topic before now. The question was, “Justin, how do we create a small business budget?” Although budgeting is a relatively simple concept, knowing how to create a well-functioning small business budget can be a little confusing if you don’t have experience doing so. I’m using today’s entry to show you four quick and easy steps to create a budget for your business.
November 14, 2020
Hiring a financial advisor is an important step to take when reaching for financial freedom. So choose a financial advisor that is a fiduciary too. Recently the Department of Labor has released a final draft of their fiduciary rules. It mandates and compels financial advisors to place the interest of their client’s as a priority when offering advice on their retirement accounts.
August 11, 2020
Who would have thought that 2020 would bring about so many changes and challenges? Owning a business is already a difficult endeavor but when you add a global pandemic that causes a near-total shut down of the U.S. economy, well… let’s just say it’s not something that most of us would have volunteered for. Fortunately, the Small Business Administration has provided some assistance in the form of the Paycheck Protection Program (PPP) and the Economic Injury Disaster Loan (EIDL). It has occurred to me that many financial experts have reported on the PPP ad nauseam, while the EIDL remains a bit unknown. Join me as I uncover some of the things business owners should know about the EIDL.
February 7, 2020
For many, the process of creating a business plan seems daunting, but that doesn’t have to be the case. We’ve outlined it for you. We’ve combed through numerous journals and reports on the SBA’s website, learned during the receiving of our many business certifications, and experienced what works in the real world through our years of working with business owners. We know what needs to be in a good business plan. Use your business plan as you create your company, restructure your company, or do a yearly review within your company to increase revenue and company cohesiveness.
May 2, 2019
Recently a prospective client asked me, “Justin, how will I know when is the right time to sell your business? Is it really possible to know?” Looking around right now we know the real estate market is up. Stocks are booming. This perhaps also encourages you to ponder the sell of your business. Determining your answer isn’t cut and dry. It needs to be broken down into a couple of different areas helping you answer your perfect time.
March 14, 2019
Selling a business is a major step many business owners take when they are ready to retire. Yet the question, “Are you ready to sell your business?” can send business owners into panic mode. Truthfully, you may never be emotionally ready to sell your business. After all, you’ve poured your life and soul into your business. However, you can make personal and business preparations now that will have you ready to sell your business in the future.