Corporation. It’s a word we’ve all heard many times. But, often, “corporation” is used as a substitute for “business entity.” This leads to confusion among many who aren’t involved in the business world. In fact, “corporation” is only one type of business entity. The primary reason that many business owners use a corporation, limited liability […]
Business Entities 101: The Basic Types and Structures Read More »
Today, a well-maintained and user-friendly website is critical not only to the growth of your business but often to its very survival. Consumers of all demographics find information, check and compare prices, and purchase services and products online. What is more, the ubiquity of smartphones and the explosion of social media platforms in the last
“Wrap” Your Head Around Online Terms of Service Agreements Read More »
Every business owner wants to increase their revenue and grow their business. Unfortunately, most of them assume there’s only one way to do this: Get more customers. It’s true that a larger number of customers might increase sales and revenue, but getting those customers usually means expensive advertising and marketing campaigns, which can have uncertain
Two Ways to Create Exponential Growth for Your Business Read More »
In 1789, Benjamin Franklin famously wrote in a letter to his friend that “in this world nothing can be said to be certain, expect death and taxes.” This adage is profound, but I would politely disagree with Mr. Franklin. I believe there is a third certainty: You will leave your business one day. Now, you
Is Your Buy-Sell Agreement Fatally Flawed? Read More »
When I consult with small business owners, there is one question I always ask: Are you working in the business or on the business? At the beginning of the typical entrepreneurial cycle, the entrepreneur is a jack of all trades—bookkeeper, computer technician, customer service representative. He does everything and anything to make the start-up viable.
How Much Is Your Time Worth? Read More »
From 2008 until 2012, the door was closed for almost all small closely held business exits. Especially in ’08, ’09 and ’10, very few people (and no lenders) were willing to take on the risk of a business purchase. Beginning in 2012, the market began to show signs of life. Since then the market has
How the Wrong Asking Price Can Kill Business Salability Read More »
For most small business owners, day-to-day business operations are their biggest source of stress. They feel like jugglers, always keeping balls in the air and dealing with customer, vendor, and employee issues. You can reduce the stress from your small business by focusing on the answer to this question: Do I own a business or
Do You Own a Business or a Job? or How to Reduce Small Business Stress Read More »
There are many ways to estimate the value of a closely held business, and they all seem complicated. But, in reality, the process isn’t much different than pricing a used car. Figuring out a price for a car is fairly simple. First, keeping in mind the price that was originally paid for the car and
3 Ways to Assess the Value of Your Business Read More »
After you’ve estimated the value of your business, settled on a reasonable price range, and put the sale process in motion, there are proactive steps you can take to make sure that the sale is as successful as possible. From an objective point of view success means simply closing the sale. But from a subjective
How to Leverage the Type of Buyer to Maximize Business Value Read More »
Dave McCarron is the founder and president of McCarron Accounting and Consulting CPAs in Winter Park, Florida. He has been serving the Florida community since 1990. Dave and I recently discussed a very “hot” topic: depreciation. He makes clear that the radical changes to depreciation in the new tax law will have equally radical effects
How Changes to Depreciation in the TCJA Will Affect Your Business Read More »
