Tag: business structure

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”

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?”

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”

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”

Employee Count


40 years ago, I moved to a new office in the accounting firm.  A year or so later, I happened to run into a former client whose business had been growing quickly when I left.  I asked, “How many people are working for you… Continue Reading “Employee Count”

What Shape Is Your ORG Chart


If you expect to sell your business one day, the shape of your ORG chart will matter.  The wrong shape is not salable at all. In classic organizational theory an organization chart shows how different functional positions relate to one another and how they… Continue Reading “What Shape Is Your ORG Chart”

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