Client Question of the Week Archives • Financially Simple

We answer your financial questions on the Financially Simple in the form of blog posts, videos, and podcasts.

July 19, 2021

How Much Does it Cost to Hire a Business Advisor

Oftentimes, as business owners, we fight through trial and error to build our businesses. Although it is possible to build a successful business on your own, having an experienced business advisor can help you get your business where you want it to be in a more efficient manner. I like to think of it in terms of climbers conquering Mt. Everest. The climbers have the vision, experience, and skill, but they still benefit from having a sherpa to guide them along the best course. Of course, this comes with a price. That’s why today’s entry is going to answer the question, what does it cost to hire a business advisor?

June 24, 2021

Four Steps to Creating a Small Business Budget

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.

June 18, 2021

Inflation is Coming… What Does It Mean for Small Business?

There is a dark cloud floating around the business sphere right now. It has been discussed in every major board room. I’ve even had a few business owners reach out to me with their concerns. It is no longer lurking around the corner, keeping many business owners on edge. But what can you do to mitigate the damage done to you and your business? Join me, as I take an in-depth look at rising inflation and what it means for your business.

May 17, 2021

What’s the Difference Between a Formal or Informal Valuation?

I recently received a question from one of our listeners. When I read their question, I realized that I had never really gone into great detail on this subject. This particular person had recently received a benchmark appraisal on their business and wanted to know the difference between a formal and an informal valuation. I believe that this is the perfect opportunity to really take a deep dive into the world of business valuations. Join me, as I take a hard look at formal or informal valuations.

October 8, 2020

October 8, 2020

Business as Usual? How COVID-19 Has Changed The Way We Do Business

So much has changed since the beginning of 2020. The way we socialize, how we learn, even the way that we operate our businesses, all have been changed by COVID-19. So, as we push forward, what does the new normal mean for our businesses and how can we set ourselves apart? There have been many business changes in the midst of COVID-19. As entrepreneurs, it is up to us to adapt and find new ways to flourish. In today’s blog, I want to address some of these changes and look at ways we can position our businesses to succeed.

May 2, 2019

Determining When is the Right Time to Sell Your Business

May 2, 2019

When is the Right Time to Sell Your Business? The 3 Determining Factors

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.