A CPA or a controller act as the Company’s historian, reporting on how the Company has performed—a good CFO is forward looking and strategic, helping the Company avoid pitfalls.

As a 5-time entrepreneur and succession planner, I know that the lifeblood of any organization is its salesforce. No matter what industry you are in, a company’s revenue stream is one of the key factors in determining its current value for potential buyers. For this vendor highlight, I sat down with Bob Foley of Frontrunner Sales Solutions, who has over 25 years of sales experience, to talk about how business owners can improve their sales process and teams to grow their reve

As a 5-time entrepreneur who has helped several businesses increase their value, I know what it takes to run a successful business. If you’re trying to figure out what your business might be worth, it’s helpful to consider what acquirers are paying for companies like yours these days. According to Oberlo , the number of small businesses increased from 32.5 million in 2021 to 33.2 million in 2022. This trend shows no signs of slowing down as more and more people are taking the

As global business increases with technology, so does the reach and rate of business scams. As you consider selling your business  you are particularly vulnerable to attempts of being scammed. If the sale of your business is your plan for funding your retirement, approach a sale with an abundance of caution. Preparing your business for sale while running the day to day business can lead to distraction, exhaustion and the potential for missing subtle signs that something is wr

This month’s Vendor Highlight is Wendy Grant, founder of Wenvia. I had a chance to sit down with Wendy and discuss her journey as an...

There comes a time for everyone to move on from the business they’ve created– some happier reasons than others. But even if you’re just starting, having an exit strategy for your business will help prime you for success, rather than leaving value on the table when the time comes. This guide will walk you through the signs to sell, the basics of valuation, options for selling your business, and tips on adjusting to life after the sale. Before you are ready to sell, it’s import

Written by Jack McCollum of Synergy Employer Consulting Services A professional employer organization (PEO) is often considered a...

Why does nobody want to buy my business? 80% of businesses listed for sale never sell. If you have been counting on the proceeds from the sale of your business to fund your retirement, the burden of not being able to sell can be devastating. A good market strategy for any products or service is to see if there is interest, gather feedback, then adjusting based on said feedback. Selling your business is no exception. Despite thinking we know better, many entrepreneurs wear ro

Do I really need an Exit Plan? “In this world nothing can be said to be certain, except death and taxes”. This quote has been widely attributed to Benjamin Franklin and has endured for hundreds of years. I would like to add a third certainty to this phrase; “at some point you WILL exit your business”. It might be on your terms, it might not. Statistically, 50% of all businesses that are sold are unplanned sales. ( see related post: The 5D’s ). Sadly, 80% of all small business

We all know that every day is a gift; none of us know what tomorrow holds in store for us.  As a business owner, one of the most important things you can do to preserve your business, your legacy and protect your family in the event of an unforeseen event is to have a detailed and up-to-date contingency plan.  What is a contingency plan? Simply put, a contingency plan is a written set of instructions of who, should do what, when, in the event of your incapacitation or death.

Death taxes and selling your business. As 2020 has thankfully ended and you continue to plan for 2021, one of the most important questions you need to ask yourself is: Am I and my business prepared for the unplanned?   As we all learned in 2020, the unplanned will pop up suddenly. A global pandemic, an economic shutdown, and even a workforce suddenly working remotely.   What should I look out for when selling my business? On a microlevel, as business owners, we have had to de

The decision to sell your business or take on an outside investor is not a singular event, but an ongoing strategic process defined as Exit Planning.  Most business owners avoid preparing an exit plan because they do not have a clear understanding of the process, or they are concerned about the cost and time commitment.   The reality is, that while exit planning is not easy, it is simple. If done properly, the out-of-pocket costs should be a fraction of the increased value of

As a 5-time entrepreneur, I know a thing or two about financing a business. Almost all of my businesses started out boot strapped. But as the businesses began to have success and started to grow, the need for additional capital felt insatiable. This is a common phenomenon of a growing business. The decisions you make on how to finance your business will have a profound effect on your business and personal life. The 4 most common ways of financing your business Here are the fo

Major league batting champions work with club-provided and personally hired hitting coaches. PGA tournament winners have swing coaches.

Running a business inherently entails many complexities, any of which can throw your business off course from executing on its plan. As a business owner it is your responsibility to ensure that the business stays on track while being available to assist, guide and develop your employees, service your customers and chart a vision for your team to follow. Putting out fires becomes a daily routine, and while you may be working long hard hours, you are not doing the work that wil