Retirement is a milestone many business owners dream about—but selling or transitioning your business isn’t just about handing over the keys. To ensure a profitable exit, it’s essential to increase your business’s value before you step away. Whether you’re planning to sell to a third party, transition to family, or install a management team, enhancing […]
Business Best Practices
Starting Your Own Business: The Essentials for New Entrepreneurs
Once you have an idea, starting a business can be very exciting, but also daunting. It is important to map everything out before you start to avoid potential pitfalls down the road. Here is a guide to set up your new business for financial success. Know Your Market It is crucial to conduct research on […]
Bookkeeping & Accounting Tips for Small Business Owners
Running a small business is a demanding task, requiring you to wear many hats, from managing operations to marketing and customer service. Among these responsibilities, bookkeeping and accounting are crucial for the financial health and sustainability of your business. While it may seem daunting, effective financial management doesn’t have to be overly complicated. Here are […]
Weighing Your Options: Promoting vs Hiring Externally
It’s a quite common dilemma to figure out if you need to hire externally or promote from within to see improvement with your business. There are benefits to both. We will now go over the pros and cons to each side. Hiring Externally Pros Cons Promoting from Within Pros Cons Overall, consider your employees and […]
Reviving a Declining Business
Business owners should recognize the warning signs that their businesses are in trouble and understand the steps they must take to stabilize and revive their companies. Businesses that end up on the critical list usually show signs that they are ailing long before they need intensive care. By recognizing these signs and making a concerted […]
What Is Your Most Valuable Asset?
Your most valuable asset isn’t your real estate or the tech stocks you bought in the 90s that have done well. It isn’t even your business per se. Your most valuable asset is you — specifically your ability to run a profitable company and make money. Are you protecting that asset from the risk that […]