Blog Library

New Revenue Recognition Standards Impact Multiple Industries and Departments

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

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

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

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 for a disaster, preparing your business for 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 personal goals, prepare for business transition, selling your business 2018, Wealth gap, business owner 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

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

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

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

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, business owner fear, planning retirement, business owner planning retirement, business owner personal goals, prepare for business transition

Key Guidelines for Co-Ownership Business Transitions

Posted by Jane Johnson on Thu, Jun, 14, 2018 @ 01:54 PM

Forging a business partnership (co-ownership) can be a rewarding endeavor, both personally and financially. It usually starts out as a mutually beneficial relationship, based on shared vision and goals. And, generally partners foresee a long-term, successful affiliation. But like any relationship, a business partnership can also be complicated, especially if there are more than two partners involved. And invariably, the goals, timeline, and expectations of each partner will change over time, which is why it’s crucial to anticipate and plan for the eventual exit of business partners (whether voluntarily or not). The goal is to ensure that if one or more partners leave, the company will be able to successfully move forward.

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Topics: Partner Ownership Transition Planning, partnership dissolving, Co-owner transition planning, business partners