Blog Library

Lessons Learned from Shark Tank

Posted by Jane Johnson on Fri, Dec, 07, 2018 @ 02:13 PM

The dream of owning a business is as American as apple pie. According to research from Vistaprint, three in five or 62% of Americans were dreaming of starting a business at the beginning of 2018. The popularity of the reality show Shark Tank, which recently started its 10th season, has helped to encourage entrepreneurship and make it look easy. It’s certainly entertaining but can be misleading. In reality, starting and growing a profitable business – and then maintaining that value – is extremely difficult. 

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Topics: business owner goals, Shark Tank, Growing a profitable business, maintaining business value, Business ownership transition plan

New Revenue Recognition Standards Impact Multiple Industries and Departments

Posted by Jane Johnson on Mon, Oct, 29, 2018 @ 08:38 PM

The Details:

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Business Transition Planning Step Three: Building a Better Box

Posted by Jane Johnson on Wed, Oct, 03, 2018 @ 05:15 PM

Once you have prepared yourself for your transition (Click Here) and calculated your “wealth gap” or how much money you will need from the transition (Click Here), it’s time to think about just how much your business is worth. When we talk about “building a better box” in our book, Cashing Out of Your Business, we’re referring to maximizing the value of your business, which is always one of the fundamental components of achieving a successful business transition.

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Topics: increasing business value, selling your business 2018, business sales, increasing business value before selling, Business ownership transition plan

Transitioning Business Owners Need a Realistic Financial Plan

Posted by Jane Johnson on Mon, Oct, 01, 2018 @ 09:01 PM

As a business owner, no matter what you want your legacy to be after your business transition, you want to ensure that you have enough retirement income. In a recent article, we discuss why it is so important for you to:

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Topics: business owner goals, financial goals, business owner financial plan, business owner personal goals, business owner planning retirement

Ensuring that Your Business Is Prepared For The Worst

Posted by Jane Johnson on Wed, Sep, 26, 2018 @ 11:02 AM

Nearly two weeks after the storm made landfall, residents in the Southeastern part of the U.S., mainly the Carolinas, are still facing the effects of Hurricane Florence, with record flooding predicted. In the Merrimack Valley in Northern Massachusetts, residents and business owners are still trying to get back to business as usual following more than 80 freak natural gas-related explosions and fires. In California, residents are still contending with deadly and destructive wildfires across the state.   

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Topics: disaster planning, preparing your business for disaster, preparing for a disaster

Count Your Beans Before Selling Your Business

Posted by Jane Johnson on Mon, Aug, 27, 2018 @ 02:56 PM

In its simplest form, Counting Beans is about taking stock of how many assets you have saved outside your business, determining how much income you will need post-transition, and then calculating how much money you will need from the ownership transition, which is your Wealth Gap.

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Topics: business owner goals, Wealth gap, selling your business 2018, prepare for business transition, business owner personal goals

BTA Business Transition Market Pulse: Retiring Baby Boomers and Rising Revenues Fuel Record Small Business Sales

Posted by Jane Johnson on Tue, Jul, 31, 2018 @ 09:56 AM

The Details:

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Topics: baby boomer retirement, baby boomer business owners, baby boomer businesses, bizbuysell, business transition plan

New Tax Law and High Business Owner Confidence Could Lead to Increase in Small Business Sales

Posted by Jane Johnson on Thu, Jul, 26, 2018 @ 10:50 AM

The U.S. Tax Cuts and Jobs Act is some of the most significant tax reform legislation in years, and is expected to lower federal tax rates for businesses, and provide several new deductions for both C-Corporations as well as pass-through entities, including LLCs and S-Corps. Coupled with a strong economy and high business owner confidence, all signs indicate that the new tax law will have a positive impact on business values and business sales for the foreseeable future. Owners who are thinking about transitioning out of their businesses should take advantage of these favorable conditions.

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Topics: tax reform, 2018 tax law, U.S. Tax Cuts and Jobs Act

Booming Market Conditions Reach Record Highs With No Foreseeable Downturn

Posted by Jane Johnson on Wed, Jun, 27, 2018 @ 08:51 AM

The Details:

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Topics: business sales, mergers and acquisitions, selling my business, selling your business 2018

Defining Your Personal and Financial Goals Before You Transition

Posted by Jane Johnson on Mon, Jun, 18, 2018 @ 04:23 PM

Preparing yourself is the first step to successfully transitioning out of your business. While it is important to focus on preparing your business to sell, it is also vital to make sure you are both personally and financially ready to move on. You may not even remember who you were before you dove head first into your company, or know what to do with yourself after you leave it behind.

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Topics: business owners not prepared, prepare for business transition, business owner planning retirement, planning retirement, business owner fear, business owner personal goals