May 24, 2018

What Happens in a Typical Quarterly Business Planning Meeting?

Not long ago I received a Twitter message asking “Justin, what happens in a typical quarterly business planning meeting?” Today I’m giving you a little insight into just such a meeting I had recently. While I can’t go into tons of detail due to confidentiality issues, I can tell you about a meeting I had with one of my clients – a first-generation business owner.
April 16, 2018

How is a Small Business Valued?

 When it comes to owning a business, it’s been stated that 80-90% of our net worth is tied up in our company. Many times business owners will go out and hire an investment advisor and pay them 1% to manage a small portion… with the business not included in this mix. Yet, investment advisors often don’t include your biggest asset – the business. We must have an understanding of exactly how a small business is valued so as to add it into the overall wealth planning process.
April 12, 2018

Simple Assumptions Can Lead to Employer-Employee Conflict

We’ve all heard the adage about assumptions. It makes an—well, you get the point. Recently I was part of a meeting that included a client and his employee. While I sat back and watched the two of them dispute over minute details, I could see both of their sides. They, however could not. Which lead me to ponder assumptions and the employee’s worth.
March 28, 2018

Should My Investment Strategies Change if I’m Selling My Business Soon?

I hear from clients every day, and many of them ask me, “Hey, Justin. Should my investment strategies change if…..” And the “if” at the end of their question could be “if I’m retiring soon.” It may be “if I’m spending a fortune on my kids’ college education.” Or more importantly in my line of business, I hear, “if I’m selling my business soon.” Well, that all depends on you, friend. It all depends…
March 7, 2018

5 Pitfalls to Avoid When Researching How to Sell Your Business

With the volatility in today’s small-business marketplace, you may be looking at how to sell your business. You hope the transition is a smooth and profitable process. Under an ideal circumstance, selling a business is not an easy task. Lack of sale preparation, deficient or misaligned expectations can and often do conflict with market realities. No matter the industry and sector, the key to achieving your desired outcome is efficient pre-sale planning. The most successful sellers are extremely careful. They ensure they get the pre-sale preparation right. Here are the common mistakes and how you can avoid them.
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