As a business owner, you’re going to have to decide when will be the right time to step out of the family business and how you’ll do it. There are many estate planning tools you can use to transfer your business. Selecting the right one will depend on whether you plan to retire from the […]
-
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 for your business. A financial buyer is acquiring your future profit stream, so they will […]
-
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 the coming years will bring: Strategy #1: STOP TRYING TO TIME THE MARKET Many founders […]
-
Health Insurance in Retirement
At any age, health care is a priority. When you retire, however, you will probably focus more on health care than ever before. Staying healthy is your goal, and this can mean more visits to the doctor for preventive tests and routine checkups. There’s also a chance that your health will decline as you grow […]
-
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 various strategies that can be used to accomplish this outcome, including selling via a buy-sell […]