For the love of your business

Articles to LIFT Your Life and Business

5 Steps to Protect Your Business From a Divorce

With the U.S. divorce rate at around 50% for first marriages and even higher for second marriages, a divorce’s impact on the fate of your business should be cause for concern.  The best thing that business owners can do is take preventive measures to ensure their companies will not suffer from a divorce – either […]

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3 Steps to Maximize Profits When Selling Your Company

If you are planning to sell your company now or sometime in the future, a recent Forbes.com article advises that there are 3 strategies you should use to get as much cash out of your hard work in building the business as possible: Pre-sale planning.  Look for opportunities to increase the sale price of your […]

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Why Every Business Owner Needs an Estate Plan

Most business owners build a business with an endgame in mind: either cashing it out or passing it on.  Whatever your scenario is for what happens to your business when you retire or die, it is not likely to happen without a comprehensive plan that aligns your personal and business objectives. If you plan to […]

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If You Build It, You Best Protect It

Consider all the time you have spent or will spend building your business – and then consider how much energy you have spent on how to protect it or protect your family from it. Unfortunately, many small business owners don’t give much thought to asset protection until it’s too late – when a suit is […]

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How to Build a Business That Endures

If you have built a successful business and plan to leave it to your heirs or business partners, doing so is not a process that just happens naturally after you retire or die.  If you don’t have a buy-sell agreement, a business succession plan, a business transition plan or a business preservation plan in place, […]

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7 Myths About Choosing a Business Entity

New business owners must weigh the pros and cons of the choices they make when it comes to choosing the right business entity for a new enterprise; Entrepreneur recently posted 7 myths that could get in the way of selecting the best business entity: An LLC saves taxes.  The Limited Liability Company (LLC) is designed […]

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What to Do If a Customer Files Bankruptcy

It’s been said that into every life a little rain must fall, and for small business owners, that shower (or storm) can come in the form of a customer or client’s bankruptcy.  Here are some tips on what you need to do to improve your odds of getting paid: Stop contact.  Bankruptcy law prohibits creditors […]

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Don’t Bet the Family Business on No Estate Plan

Being the owner of a family business can complicate your personal estate planning, since no doubt much of the wealth you want to pass on to your heirs is tied up in the business.  Being able to do so in a tax-advantaged way – and in a way that won’t cause a family feud – […]

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Starting a Business? Plan for Your Own Success

According to the Kauffman Index of Entrepreneurial Activity, approximately 300 of every 100,000 U.S. adults started a business in 2012.   The Index found that over 514,000 new firms were started every month in 2012 – but how many will succeed? Of course, in business –as in life – there are no guarantees.  According to the […]

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What the Delay in Obamacare Means for Small Business

The Obama administration unexpectedly announced in late June that it was delaying the implementation of new health law penalties for at least a year, leading many small business owners to wonder what the reprieve will mean for their companies. Firms with more than 50 full-time employees would have been penalized $2,000 per uninsured employee starting […]

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Rupert Murdoch Divorce Wake Up Call for Business Owners

Rupert Murdoch, the 82-year-old media mogul worth over $11 billion, has filed for divorce from his third wife, Wendi Deng, in New York.  Legal experts say that he has chosen the venue for his filing wisely, as New York courts are more likely to uphold a prenuptial agreement than those in his native Australia or […]

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