When you own a business, you need to be thinking about the future. The truth is that one day you are going to want to retire; you need to know who is going to take over when that time comes. If you have partners, you need to plan for anything that may happen. One person may want out. A buy-sell arrangement will also protect your business if you end up getting divorced. Since coming up with a buy-sell arrangement can be complicated, it is important that you take your time so that you are completely happy with the results. Here … Continue reading Tips to Design a Buy-Sell Arrangement →
Whenever the topic of website system integration (SI) comes up, many CTO’s will reach for the Pepto Bismol. Just the thought of the subject stirs thoughts of their venerable site strewn in pieces on the ground like a plane wreck. Yet, the truth is if your site is not fully integrated, you may be siphoning profits from your bottom line. A truly integrated website lets the left hand know what the right hand is doing. The result is fewer snafus in inter-departmental communications, a more cohesive portal that disseminates information in a user-friendly environment, and fewer lost opportunities. Integration Complexity is … Continue reading Website Integration Benefits the Bottom line
If you are a business owner, you are going to need to have a buy-sell agreement ready. Also known as a buyout agreement, this is a plan for determining the future of a business should you retire. If you have multiple owners, it can also determine the future of the business if someone wants out. Since there are many small businesses, you might not think that you even need to have a buy-sell agreement. However, that would be a big mistake. Here are some reasons to have a buy-sell agreement for your business. You don’t want your business to wind … Continue reading Business Law: Reasons You Need a Buy-Sell Agreement →
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Whether you are planning for the future or your retirement is looming near, you might be trying to figure out what is going to happen when you are ready to retire from your business. There are several choices. You might decide to sell it, let your children continue to run it, or dissolve it. It is not always an easy decision to figure out what you want to do with your business when you retire. Here are some tips to help you decide. You need to know how much your business is worth. The first step to retiring, no matter … Continue reading Tips to Plan to Retire From Your Business →