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4 Tips for Efficient Succession Planning
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One of the most common leadership development questions that I hear from executives is, “Why does succession planning feel like such a waste of time?” I do a lot of work on executive coaching and succession with my good friend, Jim Moore. Jim is the former CLO of three…
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Determining the Value of Your Business
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There are many approaches to take in establishing an accurate valuation for your business. Finding the best method for your situation will provide you with the best measure of value. Read more about Exit Strategies/Selling Business » You’ve examined your company’s historical financial statements, thought carefully about your prospects…
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Why You Should Outsource Bookkeeping Services
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Businesses choose to outsource for a variety of reasons, the first of which is to reduce operating costs. Another reason can be to free up internal resources to be used for other purposes, and thus run the business more efficiently. An additional reason for choosing to outsource, is that…
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How do you know if you have a good accountant?
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First, we need to remind ourselves that all accountants are not alike. For example, taxes are so complicated that no one can master them all. In tax prep, knowledge is king. However some accountants are reluctant to claim deductions or credits they KNOW their client is entitled to because…
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This One Equation will Change Your Life
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If there were an eighth wonder of the world, we’d nominate the equation compound interest : Your money x (I + i)^n. (If you’re not a math geek, don’t worry; were going to decipher that for you.) Albert Einstein (or maybe it was Yogi Berra) called this deceptively simple…
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Franchising Your Business
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Bill Nelson, Franchise Development Group, bnelson@franchisedevelopmentgroup.com What is franchising? Franchising is a strategy for the growth and expansion of a business, in which the franchiser licenses to the franchisee, for a period of time, the trademark, operating & business plan and other proprietary information. Why Franchise? In…
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Accelerator vs. Incubator: What’s the Difference?
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The terms sometimes get used interchangeably, but they’re not the same thing. And that matters if you’re thinking of applying. If you’re interested in getting your start-up into an accelerator or incubator there’s no shortage of options. But these terms sometimes get thrown around interchangeably. Do you know the difference…
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Bankruptcy Law Changes
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It has long been suggested that struggling small businesses have little potential to reorganize by virtue of traditional Chapter 11, which was designed more for manufacturing giants than the local diner. Typically, attorney costs, large creditor leverage and the administrative drains on management overwhelm and ultimately doom a small…
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How to Deal with Unacceptable Employee Behavior?
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Is it your job to supervise any of these characters? The Excuse Artist– Misses every deadline and goal, but always seems to be ready with a good excuse or to place blame and point fingers at others. The Short-Changer– Late to work, early to leave, “stretched” lunches, extended brakes…this…
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4 Ways to Fund Your Business on a Bootstrap Budget
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By Alyssa Gregory, About.com Guide One of the most difficult parts of starting a business for many entrepreneurs is figuring out where to get the capital needed to get the business up and running. If you don’t have the money saved up, can’t or don’t want to take out…
