BUSINESS OWNER
Six Reasons You May Want To Sell Your Business Now…
Is Now the Time To Sell Your Business? Have you been thinking about selling your business but just can’t decide if now is the best time? Do you find yourself repeatedly analyzing the economic situation and wishing you had a crystal ball? There are positive signs and there are negative signs…. If you’re still up…
The C-word and 7 Others That Entrepreneur’s Should Avoid…
Republished with permission from Built to Sell Inc. The majority of businesses in Canada today started out as service companies. If you want to own a web design firm, you didn’t need a lot of money, just a technical knack. Enterprising professionals who know how to get the media’s attention can start their own pubic relations…
Why do you want to sell your business?
Republished with permission from Built to Sell Inc. Many business owners believe the act of selling their business is similar to passing the baton in a 400 metre relay: once you’re finished running, you get to relax. In reality, buyers will insist that you stay on for a transition period – anywhere from six months…
Why traditional financial planning is killing your business…
Financial planning is critical to a comfortable retirement. But, too many business owners are following the same financial planning strategies that their employees are following and are jeopordizing their ability to retire as a result. Traditional planning from some very successful “barbers” say you should pay yourself first. Take 10% of each paycheque and put…
Scale Your Service Business To Be Less Reliant On You
Republished with permission from Built to Sell Inc. Prevention is better than cure To grow a valuable business – one you can sell – you need to set up your company so that it is no longer reliant on you. Financial Planning for business owners is less about what you can take out of your…
Business Owners: Four Ways To Protect Your Turf…
Republished with permission from Built to Sell Inc. Warren Buffett famously invests in businesses that have what he calls a protective “moat” around them – one that inoculates them from competition and allows them to control their pricing. Big companies lock out their competitors by out-slugging them in capital infrastructure investments, but smaller businesses have…
Business Owners – Where to start, when your growth stops…
By: Scott E. Plaskett, CFP & John Warrillow Why would two companies in the same industry, with the same financial performance, command vastly different valuations? The answer often comes down to how much each business is likely to grow in the future. The problem is that a lot of successful businesses reach a point where their…
Business Owners – 9 Warning Signs You’re a Hub-and-Spoke Owner…
By: Scott E. Plaskett, CFP If you were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of a traditional Christmas-tree-like organizational chart, or are you stuck in the middle of your business, like a hub in a bicycle wheel? As anyone…