moneyFYI
Financial Freedom Is Merely Organized Common Sense
Tag: business structure
For Advisers – Be A Good Neighbor
I have spent five hours reviewing a shareholder agreement for a valuable group of companies. It is rather ingenious in the way it allocates equity value, control and day-to-day income distributions. It is tax efficient and probably durable. People have spent a lot of… Continue Reading “For Advisers – Be A Good Neighbor”
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The Middle Ground Is Where Businesses Fail
As a manager, avoiding and/or solving the middle game problems is the important skill. Ideas, even good ideas, are about 50 cents a dozen and dreams don’t matter until they are fulfilled. In the beginning there is an idea or an insight or the… Continue Reading “The Middle Ground Is Where Businesses Fail”
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Is Your Business Priceless?
The World English dictionary says that priceless means, “of inestimable value, beyond valuation, invaluable”. For most businesses, especially complicated ones, priceless is an adequate description of their worth. Sadly though, priceless does not work well when it comes time to sell. You cannot take… Continue Reading “Is Your Business Priceless?”
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I Could Teach A Monkey
Some time ago, my daughter had to do some trivial task at work. She was not happy. According to her, “I could teach (her nephew, then 14) to do it in 5 minutes. I could teach a monkey to do it in an hour.… Continue Reading “I Could Teach A Monkey”
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Protect What You Have Earned
If you follow hockey, you will notice that many injuries result from late hits. Some might say dirty hits. A player cannot risk being in a vulnerable position. In simple terms, protect yourself because you cannot expect others to do it for you. In… Continue Reading “Protect What You Have Earned”
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You Cannot Be A Specialist In Everything
I am amazed at financial advisers who list twenty or more specialties on their websites, letterhead and even on their business card. I suppose they think breadth is important. It might be, but it is very difficult to keep up to one field, never… Continue Reading “You Cannot Be A Specialist In Everything”
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Business Owners and Life Insurance
Let us suppose you have a business worth $3,000,000 and other assets worth $1,000,000. Everything is looking good. I approach you about life insurance. You suggest that the business is your estate. The wife and children will have $4,000,000 in the event of your… Continue Reading “Business Owners and Life Insurance”
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Building Your Practice – Part 2 – How Big?
Yesterday we talked about customer service and how disappointed clients will eventually inform 235 people about their disappointment. Today is about how big to build a practice so as to minimize the disappointments. A recent article in Bloomberg Businessweek on “Dunbar’s Number” deals with… Continue Reading “Building Your Practice – Part 2 – How Big?”
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Building Your Practice – Part 1 – Customer Service
Financial Services is a relationship intense business. If you handle relationships poorly or even just adequately, you may get seriously adverse blow-back. Here a few things to think about as you build your practice, your systems and your methods. Tomorrow we will talk about… Continue Reading “Building Your Practice – Part 1 – Customer Service”
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How Institutions Survive
Never give a problem to someone who will be harmed if they solve it. If you do this, the organization or department tasked with solving the problem, will make the problem bigger and harder to measure. That is how they can justify their continued… Continue Reading “How Institutions Survive”
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