Business Owners
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The key to business growth often lies in the installation of value drivers. Value drivers are elements that can help you make your business attractive to potential buyers as you approach your inevitable business exit…
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Selling your business is like watching a child you’ve nurtured grow up and venture into the world. It’s deeply personal. You’ve poured your heart, soul, and countless hours into building something truly remarkable. Your company…
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A recent Supreme Court case, Connelly v. United States, made an important ruling related to succession planning for closely held businesses. We’ll look at what the ruling says, how it could affect you, and steps…
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By Michael Torney, J.D., CFP®, LL.M., CEPA Business owners are not usually focused on selling their company. They are focused on running the business. This makes sense – why worry about selling the company when that’s years…
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Writing things down is an important part of achieving your goals, both while you’re running your business and after you leave. However, many business owners feel overwhelmed by the idea of writing down their post-exit…
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Many business owners have a fuzzy idea of what life looks like after they’re done working. But fewer business owners have a plan for how they’ll reach that life they want. Running a successful business…
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One of the most important decisions Partners will face is how and when to sell their ownership stake. Moving on from your role is a complex process that requires careful planning and execution. While everyone…
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As a business owner, the decision to sell your company is monumental – especially for your employees. They are the backbone of your operations, the ones who have helped elevate your business to where it…
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By Michael Torney, J.D., CFP®, LL.M., CEPA Every few years an owner faces a key decision. Do I want to harvest the value of my business or continue to build? For those considering a transition, there are…
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By Michael Torney, J.D., CFP®, LL.M., CEPA What got you here won’t get you there. No, not the famous book by Marshall Goldsmith. The idea is the tactics and strategy you used to build your business to…
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The decision to sell your business is not just a transaction—it’s a transition. You’ve poured your heart and soul into building something truly unique. It’s the culmination of your hard work, dedication, and vision. Now,…
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Your business is likely a large part of your financial success. Even after you eventually leave your business, you may still rely on your business to achieve financial security. This often means that you need…
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By Michael Torney, J.D., CFP®, LL.M., CEPA After a business owner has completed an enterprise value assessment and gone through the protect stage, it’s time to evaluate whether to build the business. Two ways an owner can…
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By Michael Torney, J.D., CFP®, LL.M., CEPA After a business owner has completed an enterprise value assessment, it’s time for action. One of the first steps to increasing value is to protect what you have already built…
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A guide for business owners who want to get the value they deserve when selling their company. It’s the (hopefully) multi-million-dollar question for business owners looking to sell their business – “How much is your…
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By Michael Torney, J.D., CFP®, LL.M., CEPA Business owners face a unique challenge that most employees or sales contractors do not. Their lifestyle is funded by their business yet most of their net worth is tied up…
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Planning for a successful future often takes years. And even the most forward-thinking plans often encounter unexpected obstacles that can add more time to achieving your goals—perhaps more time than you’re comfortable with. How can…
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Revenue and profitability are generally good indicators of your company’s strength. However, when it comes to planning for a successful future, they are far from the only things that determine your company’s strength. As you…
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By Michael Torney, J.D., CFP®, LL.M., CEPA When people start a company, it’s impossible to predict events that could affect it 10 or 15 years in the future. But after working together many years to…
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By Michael Torney, CFP, J.D., LL.M. I have advised many business owners on the tax implications of various financial planning areas. The area that has the single largest impact on the financial success of an entrepreneur is…
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A common tragedy for business owners is facing a life-changing event, such as a sudden death or illness that devastates the business, without a plan. While these events may seem uncontrollable in the moment, the…
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Building a business that’s attractive to buyers is both a powerful way to pursue a successful future and a sign of its value. There’s generally one trait that makes businesses most attractive to buyers: self-sufficiency…
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By Michael Torney, CFP, J.D., LL.M. Founders of small businesses have many tax benefits while running their business. They also may qualify for some tax advantages when selling the business. Certain kinds of company stock have…
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When business owners think about planning for a successful future, they sometimes believe that it will take years to reap what they sow. This can make it tempting to push such planning off to an…