Blog

Insights from the Smart Financial team

When Can I Stop Working?

If you are wondering if you can make changes in your work life or in your business, whether you are planning for 5 years’ time, or hoping to stop soon, we can help and support.

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2 minute read
Navigating Life's Journey: A Guide to Wills and Lasting Powers of Attorney

Today, let's delve into a topic that is undeniably crucial for safeguarding your future and the well-being of your loved ones – Wills and Lasting Powers of Attorney (LPA). Now, don't let the seriousness of these legal documents intimidate you; think of them as your trusty companions on life's journey, ensuring that you and your loved ones are taken care of, come what may. 

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3 minute read
An introduction to Capital Gains Tax

Maximise your contributions to ISAs and pensions before the end of the tax year.

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3 minute read
Planning for the End of the Tax Year

Maximise your contributions to ISAs and pensions before the end of the tax year.

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3 minute read
Navigating the Future: A Guide to Planning Your Life and Retirement

Many people think of January as a new start. You may have made resolutions, which may not make it to February. You are probably also thinking about the things you want to achieve and do this year and beyond.

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2 minute read
Are You In Control of Your Business?

Gain control of your business and break free from the owner's trap. Make your business less reliant on you and build a sellable business. Read more.

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1 minute read
What Does Financial Freedom Mean…to You?

Have you ever considered what it would mean to be ‘financially free’? Would you sell your business or leave your job so that you had more time to relax with friends and family, travel, buy that Ferrari you’ve always wanted, or otherwise pursue leisure activities? Would you keep your business or your job, but adopt a role that’s less hands-on … Read More

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2 minute read
How to Value a Business

Do you know how much your business is worth? You should, even if you’re not planning on selling right now. Knowing the value of your business gives you the power to make confident decisions about the future, both yours and that of your business. Your starting point is determining that value. How Much is Your Business Worth? There are a … Read More

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2 minute read
How Do I Exit From My Business?

If you’re asking this question, you’re already on the right path to a successful business sale. A business exit strategy is highly valuable at any stage of your business journey, but even if you appreciate this fact, it can be difficult to identify all exit options and know which one is right for you. Let us outline three practical options … Read More

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2 minute read
What is Financial Planning?

You know it makes sense to create a business plan, giving you a roadmap that will plot your course to success, be that growth and expansion or a seamless sale. But what about your financial plan for everything else? When your business is one of your biggest assets, your personal ambitions are likely to be tied into your desires for … Read More

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2 minute read
Smart Financial

Here’s an opportunity to join one of the North West’s leading Financial Planning firms.  Smart Financial Planning is a highly regarded Lifestyle Financial Planning firm, led by the former Chairman of the Institute of Financial Planning in the North West and director, coach and mentor or the FP Training Academy, Steve Martin.  We are setting new standards of client care, with … Read More

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2 minute read
The Key to Protecting Your Legacy? Business Continuity Planning

Your business is your livelihood, but what would happen if you suddenly couldn’t be there, either temporarily or even permanently? Illness or an accident can happen without warning, affecting not just you but your loved ones, your employees, and the others who count on you. Fortunately, there is a way to protect your legacy and make sure things go on … Read More

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1 minute read
What Our Clients Say

Don’t just take our word for it – find out what our clients say about working with Smart Financial I thought this would be an indulgence, but going through the business planning process with Smart Financial has far exceeded my expectations. It’s helped to clarify and address key challenges in my business and has set me on a path to … Read More

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1 minute read
Can I sell my business?

Can I sell my business?   Client called the office today to ask what we had put in his financial plan as the sale value of his business. He couldn’t remember but had been offered £500,000. Having quickly updated his model we identified that he could sell providing he worked in the new company for 5 years (which he was … Read More

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1 minute read
6 Questions to Ask Your Financial Planner

If you’re considering working with a financial planner, no doubt you’ll have lots of questions about how they work and what’s involved. To find the right person with the best advice for you, it’s worth taking the time to research your potential planners. Asking the following six questions is a great way to find out what you need to know. … Read More

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2 minute read
The Truth About Financial Planning

Why do you work? Why did you start your business? Crucially, what do you want out of life? Your business or job may be your joy and passion, but what else do you want to do besides work? Perhaps you want to pursue other interests, take that month-long holiday every summer, or simply be able to have weekends free to … Read More

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2 minute read
Financial Planning: ‘Walking the Walk’

At Smart Financial, you may already be aware that our philosophy is ‘investing money is purely for the fulfillment of goals’. Hopefully, you will also be aware that this isn’t just a catchy phrase – we not only mean it, we live by it. Allow us to let Smart Financial CEO Steve Martin to demonstrate how he ‘walks the walk’ as … Read More

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2 minute read
Gain Freedom From Worry in Retirement

As a hard-working professional, the idea of not working can seem like a huge gamble and retirement is an exciting but worrying concept for many in your position. How will you know that you’ve done enough? Will your money run out? Will you be able to enjoy a comfortable lifestyle? The key to preparing for a worry-free retirement is going … Read More

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2 minute read
How to Increase the Value of Your Business

Ask yourself, “What is the value of my business?” If you know what that number is, congratulations! You’ve already done a lot of homework and preparation should you ever decide to sell. If it’s not worth as much as you think it should be, you can increase its value before you sell so that you’ll truly get a fair price, … Read More

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2 minute read
How to Achieve Financial Freedom

Think back to those first early, heady days when you were just starting your business. You didn’t just start it on a whim, did you? Instead, you planned ahead, put solid strategies in place and ultimately developed the business plan that’s taken you to where you are today. At Smart Financial, we believe that money is for the fulfilling of … Read More

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3 minute read
How Much is My Business Worth?

Your business is your life’s blood but there will likely come a time when you’ll want to sell so that you can relax and enjoy life, or move on to another pursuit. To do that, you need to establish a good business exit strategy. An important part of that business exit strategy will be to figure out how much your … Read More

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2 minute read
How to Gain Control of Your Business

Why did you set up your own business? Did you want more control of your business and your life? Did you think you would have more time – not less – to relax and enjoy the rewards of your hard work? If you’ve found that you’re working harder and longer with little time to yourself, then you’re not alone. If … Read More

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2 minute read
Is Your Business Prepared for the Worst?

No one wants to think about the worst, but the unfortunate and unexpected occurs all the time, and in the world of business, it is always better to be safe than sorry. You can’t plan for every calamity out there (and how could you?) but you can give your business and your loved ones some protection with a business continuity … Read More

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1 minute read
Why Time Out From Your Business Isn’t Counter-Productive

For many business owners, their business isn’t just a business – it’s their life. Starting a business requires enormous dedication and perseverance, so it’s no surprise that you may be hesitant to be less-involved after investing so much time, money, and energy to its success. The truth is, taking time away from the day-to-day needs of your business can be … Read More

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2 minute read
The New Rules for Retirement Financial Planning

The old approach to retirement looked at your working life and your retirement as two mutually exclusive things; one busy and active, the other a retreat into passivity. As people now live longer, have improved health and different ambitions for the entirety of their lives, we’re seeing a new world of planning for retirement, with new rules and new ideas. … Read More

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2 minute read
3 Ways Financial Planning Can Help Your Business

Growing, expanding or even selling a business involves specific planning, but they all depend on one thing – healthy business finances. For this, you’ll need a separate plan. Financial planning for your business not only supports its success and growth, but can also help you achieve your personal lifestyle goals. Find out the three key reasons why you should consider … Read More

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2 minute read
How Can I Take a Step Back From My Business?

We understand how important your business is to you. It’s not just what you do, it’s a big part of your life and you’ve devoted hours, months and years to building it up to be the success it is today. Owning your own business is a great experience; putting you in control of your destiny, and giving you the chance … Read More

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2 minute read
What Your Succession Plan Needs

Thinking about your options to exit? You’ll know by now we’re big fans of early exit planning. But selling the business isn’t your only option – you could consider passing your business on to family or trusted partners when the time comes to leave. It’s a great idea if you do it right. To help, we’ve got some tips on … Read More

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3 minute read
7 Ways Business Owners Can Boost Value Creation

A valuable business is a sellable business, but value creation shouldn’t be left until you’re ready to sell – it should be built into your business plan. Work now on building value into the heart of your business and when it’s time to sell, you’ll get the price you need. We’ve got seven ways that can help. Establish Recurring Revenue“Recurring turnover” … Read More

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2 minute read
Why You Should Collaborate with Other Business Owners

Business owners tend to be fiercely independent, hardworking, and self-reliant. These excellent qualities, however, can become difficulties as time goes on. Independence can become very lonely when it feels like the success of your business rests squarely on your shoulders. A hardworking perspective can mean long hours, while self-reliance can mean not asking for help, or feeling unable to ask for fresh … Read More

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2 minute read
What Does Business Freedom Mean?

Think back to when you first started your business. It’s likely you were constantly working, putting all of your time, energy and money into making it a success. Did you say to yourself then, “When I’m making a nice profit and have hired some staff to manage things for me, then I’ll take a break”? Today, has it turned out … Read More

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2 minute read
Selling My Business: Top Tips

Selling your business is one of the most important financial decisions you’ll make as a business owner, something you’re already well aware of. What some business owners may not realise is that selling your business is something you should consider early on, not just when you’re looking to exit. Value creation should be an intrinsic part of your business plan, … Read More

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2 minute read
Have You Got Enough Money?

Got your attention? We thought so – that’s quite a provocative question and the answer is vastly different for everyone. Although we’re big believers in the value of wellbeing and security over building vast personal wealth for its own sake, it’s important to be realistic and ask yourself if you have enough resources to live the lifestyle you want, not … Read More

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2 minute read
How to Get the Most Out of Your Financial Planner

Decided to appoint a financial planner? Good decision! A certified financial planner will help you draw out your lifestyle goals, build value in your business and plan your exit in good time, all to help you live the life you really want. We know it’s a commitment of time and money so here’s our advice to get the most out of … Read More

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1 minute read
The Factor You’re Missing When Valuing Your Business

There are many factors that determine the value of your business. If you’ve started planning an exit strategy that involves selling your business later on, you’ve no doubt considered many of them. A valuable business is essential to a potential buyer. But have you thought of everything? Profitability is a key point when deciding the value of a business. A … Read More

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2 minute read
Why You Need to Figure Out Your Retirement Lifestyle Now

What are your retirement plans? Many business owners find that a daunting question. Maybe you’re at the beginning of your business journey and haven’t considered it, or you’ve been in business so long that you can’t imagine retiring. Either way, we think business owners should always be looking ahead to their post-work life with enthusiasm. What Does Your Retirement Look … Read More

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2 minute read
Funding Long Term Care – what will be the true cost of the Golden Years?

As average life expectancy continues to increase, more and more of us are likely to require some form of long-term care as we get older.  But with places in residential care and nursing homes costing in excess of £25,000 a year, paying for that care is becoming a serious challenge for a growing number of people. Government is making proposal … Read More

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1 minute read
What Is Business Exit Planning?

In the exciting early days of starting your business, many business owners never truly think about leaving it. You may think that you’ll just cross the bridge when you get there, but the truth is that business exit planning helps put you in control of your business and consequently, your personal life. Being in control is much easier when you write … Read More

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2 minute read
How to Enjoy Your Money

Sometimes success is harder to accept than failure. For many successful business owners, their careful and pragmatic approach to running a profitable company is the very trait that prevents them from truly enjoying the fruits of their labour. There is no shame in working hard, and the same applies to getting the most from your success. The key to enjoying … Read More

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2 minute read
Can I Afford to Travel When I Retire?

Retirement can be an exciting but daunting prospect for many business owners. The fear that your retirement won’t be enough to fund your dreams is a valid one but you can confront it. You didn’t create a business with sheer luck, and you won’t retire with sheer luck, either. Having a long and well-deserved retirement requires diligent planning with your goals … Read More

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2 minute read
What You Must Know About Risk Before Making a Financial Plan

Understanding financial risk can be a complex subject mostly because everyone seems to have a different definition. Traditionally risk has been defined by a dry and mathematical term called volatility. Volatility being a measure of the dispersion of returns for an investment. Essentially, the amount of uncertainty we have about how the value of an asset may change. Defining Risk … Read More

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2 minute read
Thinking about selling your business? WHY?

If you are the owner-manager of a small business you probably have a thought somewhere in your mind that one day, at some point, you are going to sell. But, why?! Whatever the reason, this is the first and most important question we always ask our small business owner-manager clients: Why?! Why do you want to sell? Everything else we … Read More

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1 minute read
Exercise isn’t just about feeling good physically.

Cheshire based Personal Trainer Helen Murray takes a closer look at the positive effects it can have on your mental health As a keen runner and coach, it goes without saying that I like to keep active. In fact, I’m not very good at sitting still at all. But sometimes, just like most other people, I really can’t be bothered … Read More

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2 minute read
Is Your Wholesale Business Built to Grow?

All business owners want to factor growth into their plans. If you’re a wholesaler, you’ll face some unique challenges but should be able to build in parameters that will allow you to grow when you’re ready. Not only will this ensure short term success, but should also get you the price you need when you’re ready to sell. Six Ways for … Read More

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2 minute read
Selling Your Business? Read This First

Selling your business is one of the most important transactions you’re likely to make and yet it’s often a process that is overlooked until the very point you are ready to sell. Although it might sound premature, the truth is you should build value and sellability into the heart of your business as you’re starting out, long before you reach … Read More

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1 minute read
Exit Planning for Your Wholesale Business

While your day-to-day focus is on growing and building your business – taking care of your customers, fulfilling their needs and creating demand for your products, exit planning may seem like a distant requirement. We’d argue that exit planning is actually a vital part of your business plan, helping you work towards a successful sale or legacy. Taking that approach, your … Read More

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1 minute read
A Quick Guide to Business Continuity Planning

Each month, we put your most pressing financial planning questions to our CEO Steve Martin and COO Dr Mark Todman, in our Ask Smart Financial blog series. If you’d like expert advice from Steve or Mark simply tweet us using #AskSmartFinancial, email us or even add your question as a comment below and we’ll blog the answer in a future … Read More

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2 minute read
Can I Sell My Business On My Own?

There’s a short answer to this question – yes, of course. The longer answer is yes…but can you ensure the best selling price, the smoothest transition and the avoidance of legal or tax implications? Prepare Early Firstly, whether you want to sell your business alone or with the help of a specialist, you should plan your exit in good time. … Read More

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2 minute read
3 Compelling Reasons You Need a Business Continuity Plan

Running a business is a very involved process, and can take most of your attention on a day-to-day basis. You may not even have thought about what would happen if you suddenly became incapacitated to the point you couldn’t run your business for a period of time – or permanently. What if, for example, you suddenly became seriously ill and … Read More

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2 minute read
Meeting the Challenge of Succession Planning for Law Firms

The law firm landscape is one of the most rapidly-changing in the UK today. If your firm, like many, is a smaller practice with four or fewer partners, you’re at risk of disappearing as small firms are swallowed up by larger firms with lots of capital available, wanting to grab a bigger slice of the market. What do these challenges … Read More

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2 minute read
Are You Taking a Christmas Break From Your Business?

The Christmas holiday can be a happy but stressful time. With the personal demands of socialising, gift-buying and hosting family, the thought of keeping your business going at the same time might feel daunting. For some business owners, taking a break feels like a luxury you can’t afford, but the truth is, the greatest gift you can give yourself (and your business) … Read More

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2 minute read
What is the Financial Planning Process?

Would you like to get your finances in order, but aren’t sure where to start? Do you struggle with making decisions about how best to spend and save your money so that your future needs are met? Financial planning is the key to ending this indecision but if you haven’t sought lifestyle financial planning advice before, you may wonder exactly … Read More

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3 minute read
Podcast: The Fifth Stage of the Financial Planning Process

Our five-part series of podcasts supporting Financial Planning Week with a look at the financial planning process, finishes today. In our fifth podcast of the week, Smart Financial CEO Steve Martin talks to Andrew Neligan, CFP with Informed Choice about the final stage of the process. Listen to Steve and Andrew talk about what you can expect at this meeting, commonly referred … Read More

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1 minute read
Podcast: The Third Stage of the Financial Planning Process

We’re delighted to be supporting Financial Planning Week, with a five-part series of podcasts based on the five stages of financial planning, to really open up the process and be transparent about what clients can expect. In our third podcast this week, Smart Financial CEO Steve Martin talks to Certified Financial Planner and founder of Navigator FP, David Crozier. The third step in the … Read More

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1 minute read
Exit Planning for Your Family Business

Running your own business can be empowering and liberating, and if you work with family, the sense of shared achievement can be wonderful. Where things can get more difficult, is when it comes to thinking about your exit. If you want to transition ownership to family, the exit planning process may carry additional pitfalls. Communicate, Communicate, Communicate You’ve got a … Read More

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2 minute read
Ask Smart: Is It Time to Redefine Retirement?

This month, we’ve got an interesting look at redefining retirement in our Ask Smart Financial blog series, where Smart Financial CEO Steve Martin or COO Dr Mark Todman answer your financial planning questions. Remember Mark or Steve could be answering your question next month. Simply tweet us using the hashtag #AskSmartFinancial or email us and we could be answering your … Read More

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2 minute read
Small Business Survival Rates Fall – Don’t Become a Statistic

Starting your own business can be empowering, exciting and put you firmly in control of your ambitions. Unfortunately, no small business operates without risk and startling new research by commercial insurers RSA has revealed that more than 50% of small businesses fail to make it to the five-year mark. The research, published on Insider Media, that 63% of small business owners … Read More

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2 minute read
How to Sell Your Business

Deciding how to sell your business may be one of the most important decisions you’ll ever make. Selling at the right time, to the right buyer for the right price could bring you financial freedom and future security. Equally, it can be a difficult process with no guarantees of getting the outcome you want. We can help with some practical … Read More

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2 minute read
What Do You Want From Your Retirement Lifestyle?

Are you thinking ahead to retirement and looking forward to what comes next? We know you’re not about to let your retirement years just slip by and that you have ambitions you still want to achieve. You’re certainly not alone in this respect. Recent research by YouGov surveyed a group of 65 year-olds and revealed a ‘top 40’ wish list full … Read More

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2 minute read
How You Can Achieve Financial Freedom

We all look forward to the day when we can do what we want with our time – no need to rise and shine with the sun, working long hours. Instead, we can spend our time doing what we want to, when we want to. For that to happen, though, you have to have a plan – a plan to … Read More

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2 minute read
When Do I Need to Start Thinking About Selling My Business?

We’re continuing with our brand new blog series, Ask Smart Financial, where we put your questions to Smart Financial CEO Steve Martin and COO Dr Mark Todman. This week, it’s the turn of Mark, discussing the sellability of your business. Remember Mark or Steve could be answering your question next month. Simply tweet us using the hashtag #AskSmartFinancial or email … Read More

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2 minute read
The Importance of Business Exit Planning – At Any Stage

Being a successful business owner means looking to the future at all times. While no one starts a company with the intentions of leaving it, your success also hinges on a thoughtful business exit strategy. Laying the framework for a successful exit strategy as early as possible ensures the future longevity of your business, and having a plan in place … Read More

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2 minute read
5 Reasons You Should Get Ready to Sell Your Business

Do you know how sellable your business is right now? You should, even if you think selling your business isn’t something you want to do right now. Sellability should be built into your business at the earliest stages to give you more options in the future. We’ve got five reasons you should get ready to sell your business. 1. Options … Read More

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2 minute read
Can I Sell My Business?

The real question is, can you charge – and get – what it’s really worth to you? Even if you’re not ready to sell yet, it’s wise to prepare now so that you’ll fully reap the profits of your success. Start establishing your business’ value now and boosting its sellability as needed so that you get a truly fair price … Read More

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2 minute read
Why You Need an Exit Strategy from Your Business

When you started your business, you probably thought you’d never leave it. Maybe you still don’t. But even if you’re perfectly comfortable where you are, business exit planning should be a serious consideration for you. Having a business exit strategy puts you in control, so that you can plan your exit just as carefully as you planned your business at … Read More

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2 minute read
Are You Ready for Your Retirement Lifestyle?

You’ve worked hard to make your business a success, but have you thought about what your life will look like after you retire? It’s likely your retirement lifestyle will be much different from your business lifestyle, but what does that mean? How would you like your retirement to be different and how much would you like it to remain the … Read More

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2 minute read
How to plan your business exit strategy

If you’ve ever longed to gain freedom from your business you are not alone – this is one of the most common aspirations for business owners. The great news is however, that you can begin planning today to get your freedom back. Common Constraints Business owners can feel trapped because: • They know more than anyone else in the company about … Read More

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1 minute read
Why?

Why does any business do what it does? The easy answer is to make money but is that a sustainable objective in the long term? Is that an objective that clients of a business can share in? Is that an objective that inspires individuals to take positive actions? I would argue that the answer is no. Clearly all businesses need … Read More

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1 minute read