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]

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]