I was recently listening to the song “Circle of Life” from the movie Lion King, which got me thinking about the parallels between this concept in the natural world and the business world. The song stays in the happy zone for the benefit of the audience and celebrates new beginnings and unlimited potential as a[ … ]
Category: SOAR
Five Critical Elements of a Successful Exit Plan
Target Departure Date You simply cannot create a roadmap for your successful exit without a stated departure date. We suggest that you set that date by asking yourself questions designed to help you establish a time frame for your departure. You can design your own departure in terms of when it occurs and how your[ … ]
Death and Taxes vs. Preserving Wealth – The Final Exit Planning Contest
Full disclosure: Wealth preservation planning can’t help any of us cheat death, but it can help business owners to avoid taxes and achieve financial security. Read on. The ideal Exit Plan (one that provides the business exit you desire) includes a strategy to help you preserve your hard-earned wealth from unnecessary taxation when it is[ … ]
What To Expect From A Buyer
Assume that all business owners (except for those forced to liquidate) will eventually sell or transfer their companies, we often focus on what it takes to be a well-prepared seller. Setting exit objectives, planning to minimize the income taxes on the ownership transfer, building business value and selecting a skilled Team of Advisors are some[ … ]
Preparing for Arizona’s New Mandatory Sick Leave Under Prop 206
On November 8, 2016, Proposition 206: The Fair Wages and Healthy Families Act passed, receiving nearly 60% of votes. There are two parts to Prop 206; the first is a minimum wage increase, and the second is mandatory employer-provided sick leave. Minimum Wage Increase On January 1, Arizona’s minimum wage increased to $10.00 an hour,[ … ]
Smart Strategies to Handle the “Downfall” Problem 1 in 4 New Businesses Experience
One of the most (if not the most) important indicators of business health is its cash flow. Even if your business is profitable and growing, if you don’t have a consistent stream of cash coming in, you’ll run into financial trouble. Lack of cash flow is the primary reason that more than one quarter of[ … ]
Performance Reviews: Tips for Giving Feedback
Conducting performance evaluations is an integral part of a staff member’s professional development and helps to define a company’s culture of communication and learning. When preparing to provide performance evaluations, it’s important to have a plan that ensures evaluations are provided in a respectful manner that allows staff members to learn which parts of their[ … ]
