Today, consumers are increasingly motivated to do business with companies that are environmentally conscious. That means they not only comply with local and federal regulations, but they go beyond what is required in order to protect the environment. That means that business buyers are also looking for businesses that are environmentally conscious, especially Millennial buyers. […]
We’ve talked before on this site about the first step in selling your business is business valuation. We have also mentioned that one of the first steps in a business valuation is recasting your books. But what does this mean, how do you do it, when, and why? The truth about most businesses and business […]
What business financing options are out there for entrepreneurs? You’re ready to sell your business, but how will you find a buyer who can pay for it? Or are you ready to buy a business? There is a lot of money involved, and costs you might not even think of at first. How will you […]
What is Due Diligence? Due diligence is simply the homework that one does when they are contemplating the purchase of a business. It’s the detailed research and analysis of a business and its related factors that are conducted in preparation for the sale by the buyers. If you are considering buying a Sacramento business, you’ll […]
Asset Preservation by Deferring Capital Gains Tax Asset preservation by deferring capital gains tax is what Bill Angove is all about. Bill was my guest on Money 2.0 to talk about the work he does at Asset Preservation, Inc. where Bill is the Vice President. Asset Preservation specializes in helping clients defer capital gains tax […]
How quickly can I sell my business? This is one of the questions that comes up in every meeting with every seller and it’s almost without exception in the first meeting. Once a business owner decides it’s time to sell their business they generally want to start the process and get the business sold as […]
Employment Training Panel grants are job training funds providing reimbursements for employee training costs. Grants range from $15/hour to $26/hour per employee, depending on the business size and type. Since the Employment Training Panel program began in 1982, California employers have been reimbursed in excess of $1 billion for training workers in more than 80,000 […]
Hal Johnson, from LeadershipOne based in Sacramento, joins me as my guest on 105.5FM and Money 2.0. Hal talks about the work he does at LeadershipOne and his new book entitled ‘The Game Changer.’ LeadershipOne is a consulting firm that deals with the business transition needs of family businesses when the original or older key […]
Steve Zeller is a co-owner of Zeller Kern Private Wealth Management, Inc. and I am delighted to have him as my guest on Money 2.0. Zeller Kern is a fee-based, independent financial advisory firm based in Gold River, California. Steve talks about the firm’s background and what they look for in clients. He explains that […]
Some companies consider customer service as a necessary evil, forced because of either a problem in the production system or from the inabilities of the consumer. These companies believe that a perfect world would not need customer care. But smart businesses know that a customer service department is an investment in marketing, brand loyalty, and […]
One of the hazards in today’s society is becoming a victim of credit card fraud, here is how to prevent fraud from damaging your business. It can happen in many ways. Here are some popular scams identified by the banking industry: Data Breach Credit Card Scam You get a text message, claiming to be from […]
Buying a business has many complexities. How to determine working capital needs? Understanding the business value, negotiating with the seller, obtaining finance, conducting due diligence, working with attorneys, accountants, tax advisors, government agencies, and more. With so many areas to review, negotiate and decide on, there is one area that is easy to forget. This […]
Most people are familiar with the life coach Tony Robbins. I was listening to one of his short videos when he made a simple statement that caught my attention. His statement was “business is a spiritual journey.”
How to prevent fraud from damaging your business? Fraud costs many businesses more than it should, can threaten the very survival of the business and ties up its owner in emotional knots. Mike Ueltzen is a partner in the firm he founded some 16 years ago called Ueltzen and Co.
There has to be a purpose to the things we do in life or it’s a waste of time. At the end of the day, time is all we have. Better still, it’s a waste of an opportunity. Life to me is all about opportunities.
The power of marketing made 2012 Entrepreneur of the Year. This is pure and simple a business success story and how true entrepreneurs focus no more and no less on simply getting it done. No excuses, no fear, no procrastinating.
Terms of the deal are more important than price. There is a saying in business brokerage we share equally with buyers and sellers and it is “Get the other party to name the price and you name the terms.”
A good credit score is critical in business and this seems simple enough. However it plays out in many different ways. When a new business starts out, it makes sense to keep costs low and save time by simply operating the business as a Sole Proprietorship.
Do you own a business and know about the Law of Two Feet? So we have all heard of the Law of Attraction and Einstein’s Law of gravity
It is important to know what tangible and intangible assets are in business. Knowing the difference and examples of each can help you with your taxes and the transaction of buying or selling a business. Assets can also be a legal matter, in which case it is important to know about legal protection and how they can help you in any business transaction.
Is it time for an insurance tune-up for your business? The theme of the articles this month are about change and protecting the business. We’ve touched on globalization and technology and how they impact a business. We’ve also talked about disasters and how we have little control if and when they happen. A natural extension […]
New business models are emerging that challenge the old assumptions about how to operate a business for profitability.
In the book “Firms of Endearment – How World Class Companies Profit from Passion and Purpose”(Wharton School Publishing), the authors, Sisodia, Sheth and Wolfe, provide many examples of how companies that take care of all the stakeholders – not just the shareholders – achieve significantly higher profits.
SPICE is their acronym for all the stakeholders:
To understand your financial statement, you might consider an assessment of where you are right now with your business in terms of sales and goals. A Profit and Loss statement is useful when trying to understand what’s happening with your business and a balance sheet ensures you stay on track with all things going on with your business. These small steps help business owners understand where they are in terms of their financial statements.
If you are selling your business what is your tax position? If you own a business and wish to sell, do you need to understand your tax position before you sell? You are a business owner who is thinking about selling your business.
The process to sell a business is not a quick and easy matter. At the moment it is taking about 8 months to sell a business, if it sells. This means the business sits on the market for about 6 months before finally getting an offer from a buyer. Once the negotiations finish, due diligence commences and closes and escrow opens and closes we arrive at the 8 month period. And this applies if the business sells.
A business should be a constant ball of energy moving in different directions as the economy changes, new tools and innovations come to the market, the stress and strain from competitors and the ever changing demands of customers.
Everyone hates to fail. Everyone hates to fail at anything. Sometimes it is difficult to find out if and when you are failing. It’s like falling over when you trip. Often you don’t even know you have tripped and fallen until you hit the ground. Owning and running a failing business can be the same.
Many business owners that run as a C Corporation consider converting to an S Corporation so they can avoid the double taxation that a C Corp brings. While this sounds good in theory, there are tax consequences that need to be considered and understood before making that final decision. Below are some questions and answers to help with the decision.