2021 is in the books. If your goal as a business owner is to build a more valuable company in 2022, here are some New Year’s resolutions to consider: 1. STOP CHASING REVENUE. A bigger company is not necessarily a… Read More
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Nonqualified Deferred Compensation (NQDC) Plans: A Primer for Business Owners
A nonqualified deferred compensation (NQDC) plan is an arrangement between an employer and one or more employees to defer the receipt of currently earned compensation. You might want to establish a NQDC plan to provide your employees with benefits in… Read More
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Is Your Business Too Dependent On You? (5 Reasons Why Your Business Is Too Dependent On You)
If you, as a business owner, were to draw a picture that visually represents your role in your business, what would it look like? Are you at the top of an organizational chart, or stuck in the middle of your business… Read More
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Which is Better, a Financial Buyer or a Strategic Buyer?
If you decide to sell your business to an outside acquirer, you’re going to have to decide between a financial and a strategic buyer—understanding the different motivations of these two buyers can be the key to getting a good price… Read More
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The Big Thing Holding Back Small Businesses
Small businesses stay small either by choice, or because they start chasing growth in the wrong places. When you strip away the layers, it all comes down to darts. Imagine a dartboard with a bull’s eye and around it is a… Read More
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How to Protect Your Business from Future Uncertainties
A new decade always comes with a slew of predictions that can be scary for small business owners. Without a crystal ball, you might feel helpless. There are three practical steps you can take to protect yourself from whatever… Read More
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Ownership Has Its Privileges
Walk down Nashville’s Lower Broadway any night of the week, and you can hear aspiring artists belting out cover tunes from Elton John to Garth Brooks. In many cases, these musicians come to Nashville to be discovered but pay their rent… Read More
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Planning for Succession of a Business: Can I Give It Away?
When you develop a succession plan for your business you have two basic choices: you can sell your business, or you can give it away. In the January 2019 Advisor, we focused on options for selling your business. There are… Read More
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Planning for Succession of a Business
BUSINESS SUCCESSION PLANNING — WHAT IS IT? One of the important decisions a business owner must face is when and how to step out of the business — in other words, business succession planning or exit planning. Do you expect… Read More
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Life Insurance for Business Owners
If you own your own business, chances are you’ve at least thought about the conditions under which you will leave the business and who is going to take over after you’re gone. Business continuation is difficult enough under normal circumstances,… Read More