The success of transitioning away from a business depends greatly upon the mental perspective and preparation of an owner during the planning process. Business owners tend to fixate their thoughts only on running and growing their business. There is a tremendous value in seeing the ‘big picture’ of your exit and thinking about where you would like the company and yourself as former owner to be. The owner who sees the big picture will be more likely to execute a successful business transition. Stepping out of a business is an opportunity to move both the owner and the company into …Read More
Financial planner. Broker. Investment adviser. Do you know what each of these financial professionals does? Do you know how they are compensated for their services? Are they fee-based? Fee-only? Commission-based? Does it make a difference?
Financial advising is a field populated by many different types of services and means of compensation, and understanding these differences can help you to choose the right type of financial professional to help you meet your financial life goals.Sorting out the players
- Investment Advisers
These are professionals who give advice on investments, including stocks, bonds, and mutual funds, and oversee these investments on your …Read More
One of the things that we’re looking forward to talking to business owners about at our Eat Toast or be Toast event on May 5th is how do you make an exit plan as a business owner.
There are a couple of key components we always recommend as part of forming a Business Exit Plan.1. A Proven Process
First, you must have a proven process that will define the steps that will lead you through the creation of an appropriate exit plan. Too many times we see exit …Read More
When markets are volatile, people tend to listen more to the various media. CNBC for example, has content on TV and the internet virtually 24/7. But is that content directed towards your goals, or is it more about those who trade constantly? Go to the CNBC.com website and look at the shows to understand their perspective-note daily show names like “Fast Money”, and “Halftime Report” and when reading the descriptions of these shows notice how many times the words “trader” or “trading” are used.
While CNBC and other similar content is interesting and sometimes entertaining, it really is not pointed …Read More