Every business owner has a big dream for their business and wants to make it happen. The problem is many business owners think they can stop working without transitioning ownership. This belief says that these owners believe that their businesses are an asset that can produce returns without their involvement. To most people however, the…
Hear The Profitability Coach in action and get answers to some of the most common questions asked by business owners!
What’s my business worth? In a recent study, business owners were asked what they estimate the value of their business to be. 10% didn’t have a clue. The other 90% answered in a wide range between $500,000 and $100 million. Further when asked how they arrived at that valuation, 2/3 answered that they had no…
Every business owner has a big dream of selling their business and heading off to see the world. The problem is there’s very little planning that’s been done, leaving the business owner uncertain about the future. Many business owners fall into the trap of the “rolling five years” saying, “I’m planning to retire five years…
Every business owner has a big dream for their business and wants to make it happen. The problem is many business owners don’t have a clear strategy of how we’re going to transition the ownership and management of the business to another party because we’ve done no planning. We have our heads down working in the business…
Chris Caldwell, Partner at Highland Trust Partners, and Aaron Wynn, President of Hunter Recruitment Advisors, were guests on this episode of ProfitSense with Bill McDermott. Chris discussed how he got into financial planning, who they most often work with, the business owner’s level of preparedness for the future, how business planning unfolds, and much more. Aaron began…
Every business owner has a big dream for their company and wants to make it happen. They’re constantly working on improving their business, tweaking their strategy and efficiency, and are never satisfied. When it comes time to exit, this can lead to being frustrated or anxious because they didn’t spend enough time working on the…
Every business owner has a big dream for their business and wants to make it happen. But, the economy, industry trends, and taxes can all make it difficult to exit a business. Many business owners are already tired from the Great Recession and Covid, and navigating these external factors leaves them confused and frustrated. We…
Every business owner has a big dream to sell their business, achieve financial freedom, and live life on their terms. But many don’t know where to start or what to do. Recent studies show that business owners have a concept of the value of their business, but less than half of those have obtained an…
When it comes to exiting their business, many owners get confused and frustrated because no planning has taken place and they’re ready to exit now. If they’ve been the through the Great Recession and then Covid, they’re especially ready because they’re tired. I have several clients that are Baby Boomers and are beginning to receive…
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