Posts tagged with "business succession plan"



Business · April 15, 2024
Effective Communication for Effective Leadership: A Guide for Entrepreneurs
In the fast-paced entrepreneurial world, effective communication is crucial but often overlooked. As a leader, your ability to articulate ideas clearly, inspire action, and persuade stakeholders is essential. Our guide breaks down the art of communication for entrepreneurs, focusing on understanding your audience, crafting impactful messages, and mastering nonverbal cues. Whether it's a pitch, a team meeting, or customer engagement, every interaction is a chance to lead.
Business · April 08, 2024
Clash of Cash: Small Business Loans vs. Lines of Credit
Starting or expanding a small business brings critical financial decisions, notably choosing between a business line of credit and a bank loan. Each option serves different needs: lines of credit offer flexibility and repeated access to funds, ideal for managing cash flow or unexpected expenses, but often come with higher interest rates. On the other hand, bank loans provide a lump sum with lower interest rates, suitable for significant, one-time investments but lack borrowing flexibility.
Business · March 22, 2024
Avoid These 3 Mistakes When Choosing a Successor for Your Business
Selecting your business successor is more than a choice—it's a future-defining moment. Ensure your legacy flourishes by steering clear of common yet critical mistakes in the process. It's not just about replicating your leadership style but finding someone with the right vision, adaptability, and ability to connect with your team. Dive deeper into how to make this pivotal decision without compromising your business's future. As your trusted LIFTed Business Advisor, let me guide you through a sea
Business · March 15, 2024
3 Business Tax Mistakes to Avoid This Tax Season
As tax season rolls in, it’s crucial for small business owners to navigate the complexities of tax filing with precision. This blog highlights three common tax mistakes to avoid: miscalculating payroll taxes, misclassifying employees as contractors, and improperly deducting personal expenses as business expenses. With detailed examples and solutions, including the importance of clear payment policies and maintaining separate financial accounts, it provides actionable advice to ensure compli
Estate Planning · March 01, 2024
4 Reasons Why Estate Planning Is So Essential For Business Owners
It's easy to prioritize other business matters over estate planning when you're running a business. But, in reality, one of your most pressing responsibilities is to consider what would happen to your business if you became incapacitated or died. Although estate planning and business planning may be two distinct tasks, they're inevitably linked. And, because your company is likely your family's most valuable asset, estate planning is critical not only for your company, but also for your family.
Business · February 12, 2024
Love Your Business? Love Your Family? Then You Need A Succession Plan
Building a business is a journey filled with passion and dedication, mirroring the love you have for your family. But have you pondered the future of your enterprise and the well-being of your loved ones in your absence? Our latest blog delves into the essence of succession planning, a crucial step not just for the longevity of your business but as a profound gesture of care for your family. It outlines the necessity of a clear strategy to ensure smooth transitions, safeguarding your legacy and
Business · September 29, 2023
Understanding Business Interruption Insurance
When unexpected calamities strike, from natural disasters to global pandemics, how can businesses safeguard their income and operations? Business Interruption Insurance, similar to personal long-term disability insurance, acts as a protective shield, ensuring businesses aren't left in the lurch. Dive into this article to understand its intricacies, from trigger events and waiting periods to the specifics of what's covered. Because in the unpredictable world of business, being prepared is not jus
Business · September 12, 2023
Would Your Business Pass Our 20-Point LIFT Business Assessment?
As an entrepreneur, your business is personal. It's an extension of your vision, ambition, and hard work. But how solid is its foundation? Introducing the LIFT Business Assessment, an educational deep dive into the essential pillars: Legal, Insurance, Financial, and Tax. With this, not only will you gain clarity on where your enterprise stands but also discover strategies to strengthen its core. Ready to elevate your business insights? Let LIFT be your guide.
Business · September 05, 2023
Rethink Your Relationship With Legal Agreements: Deal With Change And Conflict In A Clear And Healthy Way
Navigating the business world, have you ever faced legal documents bursting with terms that felt alien? It's easy to feel overwhelmed and just sign without understanding. You're not alone in this. But here's a thought: these agreements are our chance to gain clarity on our relationships, policies, and services. Instead of letting them intimidate us, let's take them as opportunities to better understand our business dealings.
Business · October 21, 2022
How An Estate Plan Can Protect Your Business & Family
When it comes to estate planning, most people think of a will. There is nothing wrong with it, yet, a will is far from the best solution. This is because, upon your death, all of your assets are subject to the judicial process known as probate. And probate implies more money, more time, and a higher level of complexity. We know you don't want that. Do you? Click here if you want to learn more.

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