Every successful entrepreneur dreams of building a thriving business, but what about the next step? Preparing for a business exit is a critical phase of your entrepreneurial journey, and it’s never too early to start planning. Whether you’re considering retirement, a new venture, or simply want to ensure a smooth transition, business exit planning strategies… [Read the full article]
Author: Rocco A. Carriero
The keys to the American Dream revealed: From family to business
The American Dream is alive and well for Rocco Carriero. The New York-based entrepreneur comes from a large Italian-American family. His father arrived in the United States from Italy in his 20s and opened a small tailor shop in the Long Island village of Patchogue, where Carriero was raised along with 21 first cousins who… [Read the full article]
How to Raise Financially Savvy Children
Worried about how your children will handle money? Lots of us are. A new study suggests there is a clear correlation between early education in money and future financial success. Thankfully help is available. Financially Educated Children = Financially Successful Adults People who learned about money as children were three times as likely to have… [Read the full article]
Off to College? Do Not Major in Debt
This spring we will likely be congratulating many high school graduates and wishing them well on their college careers. While the high cost of college has received lots of attention, another startling fact is that before a student graduates, he or she often has had several unpleasant financial surprises – many of which they keep… [Read the full article]
Replacing Business Income
So you’ve decided to sell your business. No more long hours away from the family or brief vacations. No more worrying about employees, suppliers or customers. No more filing quarterly taxes, meticulous record keeping, or meeting payroll. And no more salary. What? Meeting income and liquidity needs after the sale of a business can be… [Read the full article]
Maintaining and Defending Your Reputation in the Internet Age
It’s tough watching the evening news when you see a once-prominent person being led away in handcuffs. It seems that hardly a day goes by without a scandal. Such scenes can incite the paranoia in each of us. While most of us try hard each day to… [Read the full article]
Succeeding at Succession Planning
I recently watched a friend prepare for an ocean-going sailing trip. With three others he intended to captain a 35-foot sailboat from New York to Bermuda, an approximately 1,500 mile, roundtrip voyage. While none of the crew had ever before made this exact voyage, each was a seasoned sailor with complementary skills. Further, they packed… [Read the full article]
Identifying and Recovering from ‘Financial Infidelity’
“Financial Infidelity” may sound like something new but it’s been around for a long time. It generally means when one spouse is doing something financially substantial without the other spouse’s knowledge. This typically happens over time as with most couples, one partner generally manages the finances. Consequently, the other partner in the household often becomes… [Read the full article]
Is Your Business Crisis-Ready?
Crisis and disaster planning are now common business-operation terms. Almost every business could be consumed by a nearly endless variety of crises, from a natural disaster such as a flood or hurricane which can devastate a facility to a terrorist strike to a deranged employee or customer bent on revenge to financial turmoil. “A crisis… [Read the full article]
Nothing to Fear: 10 Questions to Mitigate Business Risk
The greatest business risk, what you need to fear the most, is nothing. I do not mean this in a Seinfeld-esque way—I’m talking about actually doing nothing. Doing nothing to grow your business, being content with the status quo, and expecting everything to remain the same are risks no business can afford. For starters, consider that there… [Read the full article]