5 Habits That Can Help You Retire a Millionaire
These five habits can help you retire a millionaire without relying on proceeds from the sale of your business to fund your retirement.
Retirement
Choosing the Right Self-Employed Retirement Account
If you need to select a self-employed retirement account, this guide can help you decide which option is right for you.
How to Value a Niche Business
Valuing a publicly traded company is easy; you simply multiply the company’s stock price by the number of shares outstanding. Unfortunately, determining the value of a privately owned business isn’t always so transparent. And if you operate a niche business, the valuation process can be even more complex.
Can an ESOP Benefit Your Business?
As a business owner, you’re constantly balancing competing objectives. The good news is there’s a solution that can help you achieve multiple business goals concurrently.
Transferring the Family Business to the Next Generation
Balancing your long-term objectives with family relationships can be challenging when transferring the family business. While clear documentation and open communication can make the transition easier, you’ll want to keep a few things in mind as you plan your succession.
The Entrepreneur’s Roadmap to Retirement
Do you want to eventually exit your business and retire? If your answer is yes—or even maybe—you’ll want to ensure you’re financially prepared for your transition from business owner to retiree.
The Seven Step Exit Planning Process
There is a “recipe” for creating a successful intergenerational transfer. It isn’t the only recipe that works, but because it depends on six carefully chosen ingredients, its chances for successful completion are greater than others. If any of the following six ingredients is compromised, or worse still, missing, the result will change. Ingredient 1: Parents must …
Getting the Results You Want
As you consider your business exit, you may find that approaching it alone is prohibitively challenging. You may also find that some of the advisors with whom you’ve worked don’t have all of the skills, tools, and strategies necessary to help you exit on your terms. While planning for your future is the key, you know that results are …
How to Be Sure You Are Leaving Your Business in Good Hands
Most business owners are considering several options for the future of the ownership of their businesses. If you’re keeping your options open, that is typical. But business owners who end up selling their businesses to an outside, unrelated buyer often report that they wish they had known more about what the sale process would be …
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Selling Your Business To A Key Employee
What is a Key Employee? Key employees are those who have a direct and significant impact on business value, meaningfully participate in the business’ strategic future, and whose combination of skills and experience would be exceedingly difficult to replace. Why would you sell to you key employees? One reason you may want to sell to a key …
Can Family Business Transfers Succeed?
In the checkered, but always interesting, history of nepotism (as it relates to business transfer) we find that parents hope a child will take over a business for several reasons: 1. The joy of working together. (At least that’s what some owners claim.) 2. Greater employment and financial opportunities for family members than that available …
Successful Planning Starts Much Earlier Than You Think
Many business owners believe they have plenty of time to create a successful plan for the future of their businesses. Most commonly, owners think that if they give themselves a few years, they can transform their businesses into whatever they need them to be: whether that means bigger, more valuable, or more easily sold/transferred. And …
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