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Becoming More Recession Resistant Through Planning by Dallas Romanowski

The last two-and-a-half years have been tumultuous, and owners of small to mid-sized businesses have borne the brunt of the pain. Though few people could have predicted the effects of the pandemic, business owners with plans for a successful future tended to feel more comfortable confronting the challenges they faced. Now, as whispers about a recession grow louder, business owners are taking stock of what to do next. Let’s look at how planning for a successful future can make you more recession-resistant. Handcuffing the Great Resignation One of the most intriguing narratives surrounding the current market is the Great Resignation. More employees have resigned their positions for greener pastures, putting the onus on employers to more readily meet their demands. This is a challenge under normal circumstances. But finding and retaining talent is even more challenging in the midst of a potential recession. However, business owners who have begun planning for a successful future

Exit planning

How to Remove I Can t Retire From Your Planning Mindset by Dallas Romanowski

There’s a big difference between not wanting to retire and not being able to retire. Even business owners who intend to die at their desks can appreciate the safety net of financial independence should something unexpected occur. But many business owners look forward to an ideal future without implementing the proper planning to achieve it. Today, we’ll discuss ways to mitigate the risk of not having enough money to retire on your terms. Start by understanding the Asset Gap A common mistake successful business owners make is assuming they have more than they need, while assuming they need less than they do. The difference between what you currently have and what you must have to achieve financial independence is called the Asset Gap. Understanding your Asset Gap is critical to mitigating the likelihood that you won’t have enough money to retire. (And even if you intend to work until you die, knowing your Asset Gap

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Love Can t Be Blind: Preparing for a Business Transfer to Children or Insiders by Dallas Romanowski

Successful business owners do a lot of things well, and they make it look easy. This is often a sign of well-running processes and years of discipline. However, it can also be a trap for successful business owners who intend to pass their businesses onto their children or business insiders. While you may love the idea of keeping the business with someone close to you, you cannot let that love blind you to the realities of insider transfers. Today, we’ll examine three things you should consider if you intend to pass the business to your children or insiders. 1. Financial independence must come first Financial independence is the most important consideration for business owners as they plan for a successful future. However, it can also force you to make tough decisions about your business's future. If you’re thinking about one day selling or gifting your business to a child or insider, it’s prudent to ponder how this decision can af

Exit planning

3 Value Drivers You Can Start Installing Right Now by Dallas Romanowski

3 Value Drivers You Can Start Installing Right Now by Dallas Romanowski
wilmingtonbiz.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from wilmingtonbiz.com Daily Mail and Mail on Sunday newspapers.

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BBCNEWS Breakfast June 4, 2024 05:07:00

with him yesterday, that was still his message. he thinks he is face down. he has called the bluff of the cabinet ministers urging him to go. he still believes that election two and a half years ago in 2019 is enough for him to stay in office. unless something dramatic changes this morning, and who would rule out more dramatic developments, he is going to try to stay in there as long as he can. perhaps the more interesting going yesterday was what was going on in parliament. i spoke to dozens of tory mps yesterday. i can say with a high degree of confidence, the party has turned against the prime minister. for the majority of them, they think it is a matter of time about when they can for him from office, many are planning to do it next week. is it planning to do it next week. is it ossible planning to do it next week. is it possible to planning to do it next week. is it possible to run planning to do it next week. is it possible to run a planning to do it next week. is it possib

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