As a business owner, you are probably facing many issues that fellow business owners have dealt with. Read on to learn how financial advisors specializing in business financial planning would answer these questions.
Two future entrepreneurs?
“Entrepreneurship is the last refuge of the trouble making individual.”–Natalie Clifford Barney
When I started my business, I had a rather naïve idea of what it would be like. One of the ...(more)
You’re sitting at your desk, debating whether to order Chinese or a pizza for lunch, when the call comes. A private equity firm has your company in its cross-hairs, and the caller wants to chat. It’s not a mistake. ...(more)
Deciding if, when and on what terms to sell your business may be among the most important – and difficult – decisions you will make as you near retirement. That’s why it’s crucial to understand your company’s current ...(more)
What you’d like your company to be worth.
“Control your destiny or somebody else will.”–Jack Welch
You’ve probably heard the stories of how random secretaries from Microsoft or Facebook became gazillionaires because ...(more)
Self-employed people have several special retirement plans from which to choose, including a Simplified Employee Pension (SEP), a Keogh, a SIMPLE, or an individual 401(k). All of the plans allow you to deduct your ...(more)
Pull yourself up by these!
“I am a bootstrapper. I have initiative and insight and guts, but not much money. I will succeed because my efforts and my focus will defeat bigger and better-funded competitors. I am ...(more)
“I am a bootstrapper. I have initiative and insight and guts, but not much money. I will succeed because my efforts and my focus will defeat bigger and better-funded competitors. I am fearless.”
No one will claim that the tax code is simple or easy to understand. This is even more true for the self employed. If you work for yourself it’s likely that you wear many hats. Switching between the IT guru, the ...(more)
Mental accounting in a picture
“I try not to be surprised. Surprise is the public face of a mind that has been closed.”–Bernard Beckett
In my previous company, when we started out, we flew by the seats of our pants. ...(more)
Blood and tears too.
“By working faithfully eight hours a day you may eventually get to be boss and work twelve hours a day.”–Robert Frost
I was fortunate enough to be able to cofound a company which, seven years ...(more)
“If it really was a no-brainer to make it on your own in business there’d be millions of no-brained, harebrained, and otherwise dubiously brained individuals quitting their day jobs and hanging out their ...(more)
This is always in your shop window
“Art is making something out of nothing and selling it.”–Frank Zappa
“Everybody has a price.”–Ted “The Million Dollar Man” DiBiase
When the founders of our company had our first ...(more)
If you are considering selling your business – or if the sale is already in progress – you may need to think fast to ensure that the transaction’s structure will benefit you in the long term.
If you have not yet ...(more)
Family-owned businesses make up 90% of all business in the United States. What’s more, 70% of them are managed by the ownership family, and they employ nearly 60% of the U.S. workforce to produce about 50% of GDP. ...(more)
A lot of hard work and planning go into building a business. And when the time comes to sell it, planning is just as important to help ensure things go as smoothly and as profitably as possible. You’ll need to enlist ...(more)
“Secrecy is the enemy of efficiency, but don’t let anyone know it.”–Ric Ocasek
In my last company, I signed NDAs all of the time. There were a couple of reasons that I did so. Firstly, we were in a competitive ...(more)
“‘Someday’ is a disease that will take your dreams to the grave with you.”–Tim Ferriss
Tim Ferriss recently appeared on the Hulu show A Day in the Life, and one of the snippets of his day was advising a startup which ...(more)
“The money’s the same, whether you earn it or scam it.”–Bobby “The Brain” Heenan
Recently, Microsoft conducted a study of Nigerian scam e-mails to determine why the e-mails are so blatantly, obviously illegitimate. If ...(more)
“It’s one of those things; you just get a very nice stroke from being included in the next thing.”–Andreas Katsulas
In my previous startup, when we started it took many months before we got our first big break. Then, ...(more)
When most people think about selling a business, the most obvious way is to sell the stock to a buyer, then invest the proceeds to produce income for the seller. But there are capital gains to consider – which ...(more)
Information is provided 'as is' and solely for informational purposes, not for investment purposes or advice. BrightScope is not a fiduciary under ERISA. BrightScope is not endorsed by or affiliated with FINRA.