According to a survey by the Society of Actuaries of 1600 retired or close-to-retirement investors 45-80, just 35% said they have a detailed retirement road map designed to manage the risk of running out of money. This survey, along with increasing life expectancy, rising health costs, inflation, and a very uncertain economy, should make every business owner very concerned. This survey was conducted with current investors; many small business owners are fully invested in their business … [Read more...]
Mixed Business Signals
April 5, 2012 By Leave a Comment
Just a few thoughts on the current economic climate. The stock market, while it has been up and down this past week, has shown some strength. The stock brokers are coming out of the shadows and are encouraging investors to jump back in. The real estate market, at least in some parts of the country, is making a comeback. In the Phoenix metro area, homes under $250,000, in a clean and updated condition, are hot items. As an example, our real estate division listed a home; and within the first … [Read more...]
Overwhelmed with business but still losing money…
March 22, 2012 By Leave a Comment
A small business that provides services has to be very careful in both the client selection and client retention process. Imagine a service firm with 450 clients; just providing the necessary services takes the majority of time for both the owner and the two person staff. In this, all too common scenario, there is little time for marketing or exceeding client expectations. The bottom line is one of “barely surviving” to pay wages and office overhead. The root of this particular … [Read more...]
Should you buy your own business property?
February 29, 2012 By Leave a Comment
It’s not for everyone, but a well-established business with planned knowledge of their space needs for the next 5 to 7 years should seriously consider a purchase. Yes, cash or financing has to be available, but if that can be overcome, then start looking. There are still some good bargains available, especially with smaller properties. A few tips: Location: Buy in a location that is good both for your business and for future area growth potential. Cities and towns have a definite growth … [Read more...]
Business Owner, can you create an income stream for your retirement?
February 9, 2012 By Leave a Comment
Business owner, can you create an income stream for your retirement? It seems that many of the small business owners I know have created a job for themselves in their business. In other words, they make enough money to pay their home and office bills (most of the time) and if they are really lucky, they set aside a reserve account for emergencies. Retirement is another issue. A funny but perhaps true statement that I hear from small business owners is: “I’m going to work until I die” … [Read more...]
Connect with Us!