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]
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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]
Having the ‘Couples Money Talk’
For better or worse, money frequently is a key part of a long-term relationship. Whether someone you love loves to talk about money, would rather avoid the issue or let someone else handle it, waiting until after the knot is tied to see that the two of you do not see financially eye-to-eye however, can… [Read the full article]
Feeling Really Wealthy? Then Why Not Give Back?
Like the businessperson who financed the new hospital wing or the charity worker who devoted their life to building health clinics in a third-world country, each of us has the opportunity to leave a legacy. We each also have the opportunity to create a legacy to benefit our family or society. It does not have… [Read the full article]
Managing Wealth across Generations
The Baby Boomers, our biggest generation, have had an impact on almost every aspect of American society and financial planning has been no exception. While many of them are better educated than previous generations, when it comes to financial matters, differences between the family members can become apparent and potentially problematic. Boomers can be more… [Read the full article]
Planning Your Exit? Read This First
Exiting your business is often about a lot more than exiting your business. For one thing, it’s about helping you obtain maximum value at the time of sale. Comprehensive wealth-planning factors such as cash flow analysis, stock options, tax minimization, and retirement planning should be part of your exit plan. Where’s the Money? When most small- to mid-sized business owners begin to seriously… [Read the full article]