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Category Archives: Business investment planning

Succession Planning Advice

Succession planning tip #1 :Count the living people as living! In doing succession and estate planning, it is important to work through various scenarios and timing of life events and plan for each of them. Sometimes we make assumptions about certain events that don’t turn out to be true. One example is three brothers who came to see me for bus... Continue reading

Instant or Deferred Gratification?

There can be a tendency to celebrate short term business success too soon. Let’s say your business has a good month and you make a nice profit. Should you take a bonus? Should you reward yourself right away? There is a philosophy out there that says to wait – to defer to the future. This is based on the assumption that when a business does ... Continue reading

Managing Your Interest Rate Risk

It seems 'the crowd' is assuming that interest rates will remain as low as they currently are for a few more years. A year ago this was true also. And since then the rates have actually gone down! Although I can’t predict the future, there is one thing that concerns: Since banks go out and borrow the funds they loan out for fixed rate mortgages,... Continue reading

Lifestyle Business or a Scalable Business?

I have always thought of a 'lifestyle' business as a good thing to have. When I was researching the topic for this blog post, I came across several derogatory comments about lifestyle businesses. There also appears to be some confusion in the definition of a lifestyle business. Wikipedia defines a lifestyle business as: “a business that is set u... Continue reading

Economic Update – Quick and Informal

I am fortunate that my position as a business advisor allows me to observe how business is going across a number of industries. I also always try and get an informal 'pulse' of the region as I go about my business interactions. Many recent events are quite encouraging! The bottom line is things are really looking up for 2012 in the Windsor and ... Continue reading

Improving Business Owner to Banker Communications – 3 Tips

Bankers speak one language – business owners speak a different one – when they get together without a translator, the result is usually frustration. Here are some tips I have accumulated from over 30 years of being a translator. 1) Don’t assume that logic or reason are important to the lender – The most popular argument to a banker when ... Continue reading

Investing in Yourself is the Best Business Investment Plan

With all the turmoil in the financial markets, the big question recently is: Where is the best place to invest your money? The answer I give to help small business, professional service, and agricultural clients is simple: Invest in yourself. There is no dispute that there are risks associated with the investment in your business.  However, you h... Continue reading