Mark's Articles & Media
6 Questions Every Business Owner Should Ask
Inventor Albert Einstein is famously quoted, “It’s not that I’m so smart, but I stay with the questions much longer.” Companies that are deliberate in asking the right questions, and drilling down on the tough answers, will have greater success in reaching sustainable financial health and long-term business success. You cannot lead what you do…
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Business Exit Strategies Demystified
As a business owner, you may have considered the possibility of exiting your business at some point. Whether it’s due to retirement, a change in career, or other reasons, it’s important to have a plan in place for a smooth and successful exit. In this article, we’ve compiled a comprehensive list of 6 business exit…
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Financial Vigilance: The Business Owner’s Guide to Preventing Embezzlement
Embezzlement is a serious financial crime that occurs when a trusted individual within a business unlawfully misappropriates funds or assets for personal gain. This betrayal of trust not only results in financial losses for the company but also inflicts a deeper wound by breaching the faith placed in the perpetrator. Safeguarding against embezzlement requires robust…
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When to Pass the Baton: Navigating Business Exit Timing
As a business owner, the decision to hand off your beloved enterprise is both momentous and emotional. Whether you’re contemplating retirement, pursuing new ventures, or simply recognizing the need for change, timing plays a critical role in this significant transition. In this article, we explore the considerations for determining the right moment to pass the…
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Demystifying the Employee versus Independent Contractor Rulings
As business owners continue paving the way through 2024, it is important to keep up to date with the latest regulations, including a final ruling recently issued by the US Department of Labor (DOL) that changes the guidance to determine how workers are classified under the Fair Labor Standards Act (FLSA). The FLSA sets the…
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Start Your Year Off Right: Improve Value, Profits, and Scalability in Your Company
As a CEO, you already know that to lead a successful company in today’s marketplace takes resilience. No industry or organization is immune to the turbulent, unpredictable, and rapidly changing factors that demand we shift how we approach strategy, innovation, and competition. That strategy shift is not about the quick profits, but creating scalable business…
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Understanding the Beneficial Ownership Information Reporting Rule: FAQ’s For Business Owners
As part of efforts to curb money laundering, increase transparency of business ownership and to reduce other financial crimes, FinCEN has issued a new rule requiring businesses to report the personal identifiable information of their owners. This is known as beneficial ownership reporting. To comply with this rule, businesses must understand who their beneficial owners…
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What is a Good Gross Profit Margin? Tips to Improve GPM and Drive Profitability
As the year ends, it’s essential to keep your business’s financial health in mind. Whether you’re running a small business or a large enterprise, the fourth quarter can be a make-or-break period for achieving your financial goals. The good news is there are several things you can do to ensure that your business ends the…
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Steps to Storm Proof Your Business When Dark Clouds Gather
It’s impossible to completely eliminate worry in business, but there are steps you can take to avoid common obstacles that can hinder growth and success. In my recent article, I outline the most typical “black clouds” that can hover over any business. These clouds can include everything from cash flow issues to employee turnover to…
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Considering a Sale of Your Business? Follow these Exit Planning Strategies in 2023
Economic conditions such as high market demand for profitable businesses, labor shortages, and economic uncertainty in the year ahead are bringing many business owners to the point of selling their business. Whether a business sale is on the short-term horizon or a consideration in five years, the sale will be one of the most significant…
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