Blog

An accurate business valuation is one of the more important elements of planning for a successful future. But the journey to determine the true value of your business is full of dead ends and pitfalls.   In this newsletter, we will examine four elements...

Successful business owners have a knack for finding solutions to difficult problems all by themselves. The sense of individualism and self-reliance is often the spark that started the business in the first place. But as a successful business grows, it becomes...

There are a few better feelings for business owners than winning a huge contract or being offered an opportunity to expand the business. But these big opportunities could come with unforeseen risks. How can you determine when to pursue a game-changing but risky...

Running a business is challenging under even the most perfect conditions. But what happens when you, as a business owner, are confronted with personal tragedies or other events that require you to take time away from your business? Can your business run well without...

In tight labor markets, it can be difficult to hire the high-quality employees your business needs for continued growth and success. At the same time, your business needs to retain the good employees that you currently have so they don’t...

As you grow your business, you will likely make the biggest, most important decisions about the trajectory of your business. But sometimes, this can create bottlenecks. Your business may require you to delegate more responsibility to others for one simple...

For most business owners, growth is good. But there are situations where growth can position the business to fail and business owners to burn out.  Let’s look at a fictional but representative example of when growth can get out of control and why it’s so...

External events, like supply shortages and inflation, make running a successful business even more challenging. In today’s inflation market, business owners can be forced to make decisions they’re uncomfortable with, especially in terms of raising...

As a business owner, your employees put added stock into the things you say, how you say them, and when you say them. This is why it’s extremely important to avoid making empty promises based on good intentions.    Let’s look at some ways that you can...

Co-owned businesses come with numerous complexities. One of the biggest challenges for co-owners is determining how to approach the exit of another co-owner, especially when that co-owner cannot or will not exit gracefully.    Let’s look at a...

Is it possible for a $5 million business to be more valuable than a $15 million business? Let’s look at a fictional but representative story to show how a larger valuation doesn’t always mean that the company is in the right position for you...

The sense of pride in building a business and keeping it in the family can be a huge motivator for business owners. But transferring a business to children for its own sake can have consequential risks for your future, your business, and your legacy.   If one of...

Most business owners have never exited their businesses before. Just like taking a big trip to a new place requires good planning to truly enjoy it, so too does a successful business exit.   While the details will certainly differ based on your unique...

When planning for your eventual business exit, achieving financial security is the most important goal. But what happens when the emotional side of planning an exit—namely, ensuring your legacy—conflicts with that most important goal?  Let’s look at a fictional but...

Minimizing risks is a goal that many business owners have. But sometimes, there are instances where taking calculated risks becomes a necessity, especially when you are planning for your eventual business exit.   Let’s look at three calculated risks that you may...

Differentiating your business is an important element of growing it successfully. But how should you draw the line between pursuing the newest trends and sticking with the fundamentals? Let’s walk through a process that can help...

Letting go of the business you own may be one of the hardest things you’ll ever have to do. A key goal of Exit Planning is positioning you to exit on your terms. But even when an exit goes perfectly, some business owners remain drawn to...

A big hurdle that business owners struggle to get over when creating an Exit Plan is, “I don’t have enough time to do all that.”   On its surface, it’s an intuitive argument. Planning for a business exit is indeed a lot of...

When you’re running a successful business, creating a plan for your eventual exit may be the last thing on your mind.   “I have way too many responsibilities for that right now.”   “I’ll start thinking about that when I’m closer to...