By MarksNelson on November 14, 2017For some business owners, a third-party sale is their best option for a successful business exit. Third-party sales are popular because owners often believe they can get the most money from their businesses in as little time as possible from a third-party buyer. They might be right. But what they may not consider is how little control they have over their businesses, their schedules, and even their futures once the third-party sale process begins.
By MarksNelson on October 25, 2017It’s likely that few people, if any, have ever told you, “You need to make yourself less important,” regarding your business. But sophisticated buyers look for businesses that can operate without their owners. Unless your exit planning goal is to sell or transfer your business, and then stay with the business as a subordinate to assure a smooth transition, you’ll need to train a management staff that can run the business without you.
By MarksNelson on October 20, 2017Since Mark Radetic joined accounting firm MarksNelson LLC in 2003, it has grown from 30 employees generating $3 million a year to a 160-person business generating $23 million. Radetic is managing partner of the Kansas City operation, helping it develop a reputation as a highly skilled, independent accounting firm serving middle-market entrepreneurs. He’s a 34-year industry veteran who helped MarksNelson implement a growth plan that would enable it to avoid getting gobbled up by larger competitors yet buy out a slew of older partners nearing retirement. And it’s working: The company grew more than 40 percent in 2016, with organic growth accounting for 22 percent and the acquisition of Marsh & Co. in Overland Park the rest.
By MarksNelson on October 6, 2017Two new trends are emerging in a program designed to breathe new life into severely distressed neighborhoods. New Market Tax Credits are now being used for manufacturing investments above all else.
By MarksNelson on October 4, 2017Many owners and advisors talk about the importance of growing business value, and there are nearly unlimited options to help business owners do just that. But wouldn’t you agree that growing business value is pointless if you don’t know how to reduce the threats to that growth? As you prepare for an eventual exit from your business, there are several threats to business value that you need to be aware of.
By MarksNelson on September 25, 2017It takes a great leader to run an organization, but without strong leaders a business stands little chance for success. More likely, a business has several “key employees” that contribute overall profitability and long-term success. So when it comes to insurance, it is essential that the business owners looks beyond insuring their business in the event of their own demise, but weigh the risks of losing one of their key employees.
By MarksNelson on September 20, 2017A fundamental aspect of a successful business exit is assuring that your business has enough value to allow you to exit with financial security. This, coupled with wisely invested non-business assets, gives you the best chance to pursue the Exit Path you want on the timeline you want.
By MarksNelson on September 16, 2017Cash flow is one of the most important factors in succession planning. All buyers, whether an outside third party or an insider (family member, co-owner, or key employee), will use cash flow as a way of measuring or confirming the value of the companies they buy.
By MarksNelson on August 29, 2017The destruction in the wake of Hurricane Harvey has shown the devastation that a natural disaster can bring. As a business owner, it is necessary to acknowledge and plan for the potential risks.
By MarksNelson on August 16, 2017Setting goals is critically important to owners who begin Exit Planning. Without goals, even the strongest processes fail, because they have no purpose to work toward. Your goals are what guide your process toward a successful exit, and without them, you’ll find yourself spinning your wheels in the mud of indecision.
There is no substitute for personal attention. It enables us to truly connect, so we can understand your perspective, anticipate your needs and provide the best solutions. That means real conversations, not impersonal emails.
At MarksNelson, we think curiosity is a virtue. After all, any accountant can focus on your numbers. We get down to business by first learning yours, inside and out. Our associates work to understand not only what you do, but why you do it.
The team at MarksNelson believes that the smallest point can be just as important as your biggest line item. Our goal is to deliver a quality product, prepared with great attention to detail and accuracy. Whatever industry you are in.
We work to be vigilant with everything we do. But why? The truth is... every firm says they will put you first. MarksNelson does more, by keeping on track and informed. We want to collaborate with you to provide you with the solutions that you need.
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