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BUSINESS OWNERS RESOURCE NETWORK BLOG

Top 3 Qualities That Every Successful CEO Should Have

“What makes a great leader?” How would you answer that question? As owner/CEO of your company, it’s important that you know how to answer this question. Naturally, you want success for your business; and that success starts with you. No matter how...

5 Tips For A Better Work-Life Balance For Entrepreneurs

When starting your own business, maintaining a balance between work and your social life may seem close to impossible.   Becoming a workaholic when beginning the process of entrepreneurship is inevitable. Keep reading to learn five tips for...

Are Changes Ahead for Retirement Accounts?

A bill now in Congress proposes to alter some longstanding rules. Most Americans are not saving enough for retirement, despite ongoing encouragement to do so (and recurring warnings about what may happen if they do not). This year, lawmakers are...

How New Tax Laws Affect Small Businesses

The Tax Cuts & Jobs Act changed the tax picture for business owners. Whether your company is incorporated or held closely, you must recognize how the recent adjustments to the Internal Revenue Code can potentially affect you and your workers.

Are Entertainment Expenses Still Deductible?

Yes, but only in certain contexts. You may have heard that the Tax Cuts & Jobs Act eliminated nearly all possibilities to write off business entertainment expenses. That is not quite true. You may be able to claim a deduction for such expenses...

Preparing to Sell Your Business

Do you have a strategy to follow? Have you created a company that someone will want to buy? Your children won’t necessarily want to take over your business, so an exit strategy is essential to getting the outcome you want. You must prepare your firm...

ATTN: Business Owners — Questions You NEED to Ask:

If you are a business owner, you must ask yourself these questions:   Are you financially prepared for an exit from your business?   Are you mentally prepared for an exit from your business?

Selling a Business vs. Developing an Exit Strategy

Sell the Business Develop an Exit Strategy > Advisor motives rule > Advisors are “transactional” > Goal is “sale of business” > Process includes “finding buyers” > Sales process at “mercy of market” > Outside party necessary for deal > Company is...

Business Owners Need to Plan an Exit Strategy

70% of private business owners report that their business is their primary source of income; yet, only 20% of small businesses are successfully sold to an outside buyer. Over the next months, I plan to share some thoughts and disciplines around...

Exit Ready -- Or Not?

Someone is sitting in the shade today because someone planted a tree a long time ago. - Warren Buffett  Exit Planning is a process of controlling a retirement strategy. It's about Reducing Risk, Preserving Wealth and Maximizing Value.