Investing in an existing business is a great way to become an entrepreneur and reap the benefit of immediate profit without having to start something from scratch. When you start a new business, there are a lot of growing pains that you have to endure before you start...
For anyone who dreams of becoming a business owner, there are two primary options: buy an existing business or start one from scratch. Buying a successful, proven business has some clear benefits over starting from the ground up. These include having an established...
Starting a new business can be very exciting, and for many people it is a lifetime dream. Unfortunately, it can also be daunting, time consuming, expensive and a very risky endeavor. The reality is that 20% of all businesses fail within their first year, and 50%...
Taking a step back and allowing your business to run itself can be a big challenge, especially if you’re used to making all of your company’s decisions and solving all of its problems. In the first two parts of our “Getting Your Business to Run Without You” series, we...
Most entrepreneurs who start their own business or purchase one, do so with the full intention of having more freedom and independence. Unfortunately, many of these business owners get too caught up in the daily grind and trying to be involved in every aspect of their...
When a business is running smoothly, it can be incredibly satisfying. Not only is it profitable, but you can choose your own hours, who you do business with and the direction of your career. On the other hand, if it’s not running smoothly, you can find yourself at the...
Running a business can be difficult enough, without also having to track and prioritize your company’s financial metrics. While you may have a CPA or a bookkeeper tracking these things, it is important to understand which metrics are the most important, so you have a...
Selling a business is never easy, especially when you’ve spent several years, or even decades building it. This is not only due to the huge amount of preparation required to get it on the market, but also the personal connection you’ve developed with it over the...
As a business owner, you know how hard it is to build, grow and run a company. Why would you invest all that time and effort and then risk selling your business for less than it’s worth, or not realize its full potential? Nobody wants to do that, and yet many business...
Most business owners want to do whatever they can to reduce their tax liability. To achieve that, they do whatever they can to reduce their company’s cash profits including deducting several additional expenses. If you use this strategy, it is a perfectly legal and...
