How to Build a Succession Plan for Your Business

As a business owner, you already know your company has value. It supports your lifestyle, pays your employees, and provides products or services your clients rely on. But here’s the big question: If someone asked you today what your business is worth, could you give them a confident answer? …

Many business owners assume their exit path will be a sale to a third party. In fact, some entrepreneurs start their businesses with the goal of finding a larger buyer, selling the business, and moving on to their next business idea. A cash sale can definitely draw business owners toward th …

As a small business owner, you may be so immersed in the day-to-day functions of your business that you haven’t yet put much thought into the day you leave it behind. In fact, for many business owners, the thought of bringing their time to a close can be daunting. Yet planning for your depa …

This material is provided by Barrington Wealth Management and written by Rob Garber from Strategic Talent Resources, a non-affiliate of CWM, LLC. Taking the next step. You’ve built a successful business. Assembled a great team. Forged strong relationships with your customers. And now it’s t …

Selling a high-value asset often comes with a significant downside: paying a substantial portion of your proceeds to the IRS. Fortunately, there are strategies that can help you retain more of your hard-earned gains, even after tax season.

Ask yourself this – who will you be, not what will you do. Life is full of changes. I still remember my high school English teacher saying, “The only thing constant in life is change itself.” Selling a business or transitioning it to the next generation is one of these many changes. So what …

The most valuable businesses are always transition ready. When working with closely held businesses, it is common that a business owner plays a central role in the overall functioning of a business. Some common examples that we see: The business owner is the main driver of sales and new cus …

Owning a business can be like parenting. You’ve likely experienced many sleepless nights and spent a countless amount of energy on your “baby.” Like parenting, being a business owner can be an enriching journey and make life worth the trip.

Financial planning for a small business gets more complicated every day. Business owners must navigate tax efficiency (and life under the new Tax Cuts and Jobs Act), retirement preparations for yourself and your employees, and succession planning. Get your financial plan in place today and …

Running a small business involves juggling multiple responsibilities. Managing the business’s finances is one of the most crucial aspects. Proper financial management can be the difference between a thriving business and one that struggles to stay afloat. Here are eight essential financial …