As you advance through your career, significant changes to responsibility and title may result in meaningful increases in compensation. While a bigger salary will mean more cash flow in your checking account, it is also an opportunity to consider how the increased...
Business Builders
Finding the right lender
Preparing for an acquisition or another business transition is a pivotal moment for business owners. For owners doing their first acquisition there is a lot of unfamiliar territory to cover — from valuing the business they are acquiring to reviewing their internal...
Do I Need a CFO?
People I speak with often have no idea what a chief financial officer (CFO) does, let alone why their business would need one. They typically have a bookkeeper or controller, who handle day-to-day transactions and oversee the general ledger, accounts payable, accounts...
Ten tips for creating strong business agreements and contracts
Agreements are supposed to make things easier by reducing risk and avoiding litigation. Unfortunately, that’s not always how things work out because people often make very simple mistakes when entering agreements. This article highlights some of the most common and...
A business owner’s guide to surviving a bank crisis
Hearing about bank failures, a potential destabilization of certain segments of the banking industry and a possible broader destabilization of the economy can be very unnerving for business owners. Risk mitigation is always important and challenging, but it becomes...
The next act: prepping for retirement
When you think of the word retirement, what comes to mind? For many it’s 401k planning, travel, new hobbies, giving back, more golf, family time and being untethered to the hustle of what has been. As we think of our own retirement, it can also be uncertain, uncharted...
Ins and outs of family business succession planning
The transition of a family business to a younger generation is an exciting, but nerve-wracking time for both sides of the deal. The older generation (sellers) is spending more and more time away from the day-to-day operations of the company and enjoying the fruits of...
Making your website work for you
Every business needs a home on the web and technology has gotten good enough that almost anyone can create a decent page using tools like HubSpot, WordPress, Squarespace and many more. The trick is to create a site that helps you grow your business. Here are the most...
Selling your business without a price in an M&A auction
Do you know the value of your business? Many small business owners don’t, plus it’s not uncommon for them to have the majority of their net worth tied up in their business. So, it’s important they receive top dollar for their “baby” when they decide to sell. When a...
The power of seller financing
When a business owner is planning their exit strategy, they should seek to minimize risk and maximize net proceeds from the sale. Seller financing can be a powerful tool in this regard. Seller financing drives higher prices Business buyers are also looking to reduce...