Exit Planning Institute North Texas Chapter Social

Date:  June 8, 2017  4:30- 6:30
Place: Nick and Sam's, 8111 Preston Rd, Dallas 75225  (Preston Center SW corner)
Members: $15; Non-Members $20
Register: Here


"Working Capital - What You Don't Know Can Sabotage the Transaction"

Date: July 14, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900 Dallas, TX 75230
Members: $15; Non-Members $20
Speakers:  Monty Walker and Robert Rough

Register: Here


" Could Exit Planning Have Saved This Family and its Business"

Date: August 11, 2017  7:30- 9:00
Place: Salmon Sims Thomas CPAs, 12720 Hillcrest Rd, Suite 900, Dallas, TX 75230
Members: $15; Non-Members $20
Speakers: Doug Box, Interviewed by Mariann Montgomery
Register: Here


"Business Value for Exit Planning-Triggers Drivers Approaches"

Date: September 8, 2017  7:30-9:00
Place: Salmon Sims Thomas CPAs , Suite 900, Dallas 75230
Members: $15  Non-Members- $20
Speakers: Chris Mercer
Register: Here

 


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Taking the road “back to profitability” implies a return to the way you used to do things. However, what made you profitable before might not work this time. Perhaps, in the past, you took short-cuts to boost the bottom line, or, maybe certain ways of running the business that worked in your favor before no longer work. Regardless of what brought you to this point, there are a few basic steps you can take to get you back on the road to profitability.

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Growing a company takes skill, vision, capital, and a lot of energy. Perhaps you have been profitable, even without a formal plan. You have survived. And now you are ready for the next step: creation. You are poised to create the life you have always wanted. Maybe you wish to mentor young people, devote time to your favorite non-profit, attend classes that have nothing to do with earning a living, or live in a foreign country. It’s your dream. You get to write the script and cast yourself in whatever role you wish. Now that you’re ready to live the dream, where do you start?

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“Women owned family businesses are nearly twice as productive as those owned by men” according to research funded by MassMutual Financial Group1. They experience 1.7 times higher profits with fewer employees than men owned businesses. Researchers attribute this to women’s leadership and management styles.

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If your company has been profitable for the last few years or more it would be natural for you to assume that it has a certain level of value. But, profitability is only one benchmark of value for most potential acquirers. While profitability is often the door opener, it is a well-executed plan for sustained long term growth and cash flow that will hold a prospective buyer’s attention and set the stage for an impressive offer.

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Entrepreneurial wealth starts with a vision. Define it. Quantify it. Assess current performance accurately and rapidly. Then project future performance with precision and speed. You now have a goal that is clearly identified, a process to measure your progress, and a method to quickly re-set your course, if necessary. If your business is in danger of getting off course, you will know where the problem lay and can quickly correct your bearing. And, when you spot opportunities, you will have a system to rapidly evaluate if and when to pursue them. That sounds easy enough, but…

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Nearly every business owner we know wants to own the building that houses his business. There are some advantages to owning the real estate. You might get the numbers to pencil out if you enter the right data. But there are several factors to consider before you make a final decision: 1) Will the business own the building or will it be titled in the name of another entity such as a limited partnership, family limited partnership, trust, or a generation skipping trust? 2) What is the fair market rent? 3) What are the advantages or disadvantages of paying over-market or under-market rent? 4) What would the terms of the lease be? 5) How will owning the real estate affect the value of your business? 6) What would you do with the building if you sold the business? 7) What is your time horizon for holding this illiquid asset? These are just a few questions you need to consider before making a decision. From the outset, consult with a few key people including your CPA, attorney, investment advisor, business consultant, and a commercial Realtor®. Although their opinions might differ, each can offer important information so you can make an informed decision.

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Business owners are often faced with the decision to either lease space or purchase a property for their business operations. Market conditions, will dictate the price and available selections of properties for sale or lease. The business owner should evaluate the pros and cons of either alternative. Below are some points to consider when evaluating a lease or purchase:

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Who’s The Boss

Feb 11, 2013

Most founders of privately held companies established their enterprise because they wanted to be in charge. What they were doing before they took command is often a clue as to what drives their leadership style. Some grew up in the family business and were groomed for the position of leadership without ever considering other options. Others came from the corporate world. Some were born with the entrepreneurial gene and never really fit well in the corporate world. Some are truly visionaries and can clearly see what they wish to create. Regardless of where they came from or why they established their own company, all need to develop quality leadership skills in order to create and sustain an enterprise with real lasting value.

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Like most business owners you have probably developed your own tax reduction strategies and your CPA has gone along, even if he or she did not entirely agree with your aggressive approach. Legitimate tax reduction strategies are a good thing, but not at the expense of creating value. Let me explain. Your operating expenses might include a few personal perq’s that are questionable business expenses. When we talk about personal perq’s, we are referring to writing off a speed boat because it has your company name on the side which you call advertising, or an airplane because you sometimes use it to visit with clients or to take clients on trips. While these goodies are sometimes used for business, they really do not add value to your enterprise. Legitimate tax reduction strategies that add value to your business would be better use of your company dollars.

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Are You Set for Life

Feb 11, 2013

That depends upon what you mean by “set”. For some it means that you know what you want to do with for the rest of your life. For others it means you know what you want to do and you have the financial means to carry out those wishes. While you might think you are set for life, you really aren’t unless you have quantified your goals and have a solid plan to achieve them.

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