Succession Planning for Business Owners

How to Focus your Succession Planning for your Hard-Earned Business?

“Succession Planning” is a term that is being used a lot in today’s business world. It refers to the process of exploring your options so that you can protect the value of your hard-earned business investment and choose the right exit strategy that makes sense for you, your business, and your family. This process takes thought, planning and time to arrange and implement. Who should you include in your Succession Planning? Statistics show that most …

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Building Value before you Sell your Business

Building Value Before you Sell your Business

Whether you started your business from scratch or bought an existing business, it represents a significant asset into which  you have invested a lot of time, money, and effort. Owners want their business to be as profitable as possible, and to one day sell it and use the proceeds to help fund their retirement. As a business owner, you want to make your business look as appealing to potential buyers as possible. The first step …

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Cash Flow Tips for the Small Business Owner

Cash Flow Management Tips for the Small Business Owner

Are you struggling to meet your business’ obligations even though your business is profitable? When it comes to managing a business, cash is king. A business can be very busy with high sales volumes and healthy profit margins, but if cash is not managed correctly, it can be the beginning of the end for a small business. To run a successful business, you need to pay close attention to managing cash flow. Here are some …

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Small business owners increasing profit

As a Small Business Owner do You Struggle with How to Increase your Profits?

As an accountant, one of the most enjoyable aspects of my job is meeting with my clients to talk about their businesses. When I ask them how business is going, a typical response is “things are really busy.” While being busy is often a good thing, it is important to remember that it does not necessarily mean that the business is profitable. Owners often get wrapped up in the day to day activities of their …

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Accounts Receivable - Bill early, Bill often, Be vigilant

Accounts Receivable – Bill Early, Bill Often, Be Vigilant

Not every business owner has the luxury of owning a business where customers/clients pay at the same time that the service/product is delivered. While this may be the case for restaurants, retail stores, auto repair shops and so forth, the majority of businesses have to wait for payment. Managing credit risk and collections is a critical aspect of running their business successfully. A key thing to remember is that a sale is not a sale …

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