Entrepreneurs are not well respected by the professional industry regarding planning ahead for the future.  Every time I meet with a CPA or Financial Planner they complain that their clients don’t do enough to prepare for the future and come in only when there is a problem.  I have to be honest and say I’m the same way, not only in business, but also with going to the doctor and […] Continue Reading…

Whether you sold your business or just want to close it down there are some required steps to consider before you go off and sit on the porch, checking the box called DONE.  Whether you are a corporation, partnership or sole proprietor, there are items that need to be done to wrap up the organization and consider both from a business perspective and a personal perspective.  

First, there are business considerations associated with closing down and […] Continue Reading…

The way to start off the question really should be…do you know what type of entity your company is and do you know why?  Most business owners decided to incorporate because “everyone” told them they should.  So they called their local attorney, referred by a friend , and asked them to incorporate the company before moving back into their daily grind.  The problem is that there are consequences to this decision that can cost […] Continue Reading…

I met with a business coach today and we were discussing the exiting process of a business and the emotional struggle that owners experience.  We talked a lot about the steps to sell your business and where a business coach would be helpful.  Personally, I am a strong supporter of having a business coach and have used one for many years, as I struggled with my balance between business and personal goals.  Like many of my fellow entrepreneurs, my business and personal lives were often intertwined and that caused […] Continue Reading…

I know there are business owners who want to sell their business but the real question should come down to if they can afford to sell it.  What I mean by “afford” is, after the sale, is there enough after tax money to move on.  Business owners are always asking for the value of their business when they need to be considering how much they need to live on after they sell the business.  This […] Continue Reading…