preferential-lite
shadow

Will Your Small Business Have A Happy Ending?

Related eBooks

There is no question that as a small business owner you have persevered and worked hard, dedicating your life to the success of your company. That being said, don’t you think a company you put all of your energies into, deserves the chance at having a happy ending? Have you considered the impact your death, disability, retirement, or even divorce could have on your small business ?

If you are the owner of a small business it is time for you to stop thinking of only what is happening now, and start focusing on what could happen in the future. Therefore, you need to put your priorities into perspective by protecting yourself and your business with a succession plan. A business succession plan is what you need to ensure that your business has a happy ending by remaining secure, regardless of what may happen in the future.

In particular, a succession plan allows your business the chance to be able to stand up to any challenges that may occur along the way. For instance, certain setbacks that you might experience may be entirely beyond your control such as divorce, disability, departure and death. But with a business succession plan you have the chance, as a small business owner, to ensure that regardless of what may happen to you, your business will be protected.

The following are a few aspects you should to take into consideration when creating a business succession plan for you small business:

How to Begin the Succession Planning – Since you need to make choices before you can really begin achieving your succession planning goal, you must first think about your long term business objectives and ask yourself important questions such as –

– Will I sell my small business?
– Should I set up a plan that allows me to transfer my business to one of my business associates or a family member?
– Does my business have public potential?

Of course, business succession planning begins with much more than simply deciding who you will be giving your business to in the event that you can no longer run your company, or wish to sell it. Additionally, succession planning is about keeping your small business afloat and successful to ensure that your absence will not devastate your company. Therefore, in order to maintain future control of your business, you will need to begin your succession planning by making choices that will concern things such as:

– ownership objectives
– asset protection planning
– taxation and transaction planning
– estate planning

You will want to keep in mind, however, that due to the fact that every action you take with succession planning will result in a reaction, you will require the assistance of experienced experts when developing your plan.

Understand the Dollars and “Sense” of Business Succession Planning – Like any type of business preparation, your business succession plan needs to be orderly and handled carefully if you don’t want to suffer the consequences of financial losses – or worse – the loss of your small business. That being the case, you need to know exactly what you are dealing with, and how you can achieve the most of your planning.

The one mistake you will not want to make is to overlook your business finances. You can help keep your business secure by properly using the following, and more, in your succession planning before problems occur:

– Life insurance
– Disability insurance
– Annuities

Furthermore, you will find that with an orderly succession plan, you will be avoiding the possibility of your business having to be sold to pay off the estate tax, in the event of yours or (if you have one) your partner’s death. It is no secret that estate taxes can claim up to 55% of an estate that is taxable, which is no mystery why so many businesses fall into debt, become bankrupt, or are sold due to the death of the owner or partner.

In addition, another aspect that needs to be considered is that clients are most likely to do business with other businesses after the owner or partner is deceased. However with the proper succession plan, your business should be able to maintain any regular clients – or if not – it will be better equipped to survive the possible drop in assets if a slow period should follow.

Know How to Write Your Happy Ending – Remember, when all is said and done, the outcome of your succession plan depends entirely on the choices you make regarding the future of your small business. It is imperative that you take the time to make the best choices that will allow you to implement a succession plan, which keeps you in control of the outcome that involves the transfer of your company. By knowing how to ensure the prosperity of your business future with a succession plan, is how you will write your happy ending.

What Does Blog Marketing Entail?

Blog marketing is something that many do every day. Some make a full time living just from blog marketing and others do it as a hobby. Depending on just how serious you are about marketing your blog, you may find that some aspects of blog marketing are just something more that you are not interested in doing. For example, if you have a blog that you update and just have as a hobby, you are not hardly going to be worried about how many readers you have, as well as how many sales you make from your blog. But, if your blog were more than just a hobby, and how you make an income, you would be wanting to know all of these things and more.

Blog marketing is a technique that many use. While not everyone that has a blog markets it the same way, they all generally have the same goal. Which is more traffic, sales, and readers. When you have all of these things you were successful in marketing your blog. But you should know that just because you have all of these things does not mean that you are done marketing. Actually blog marketing is a never ending task. There will always be something more that needs to be done, and you will never actually be done.

Marketing your blog consists of many things all used together to get the same end result. Such as getting links to your blog or leaving comments on other’s blogs. Using SEO which is search engine optimization is another thing that is important in the world of blog marketing. You should use SEO on your blog just as you would a website. Doing so will get you higher in the search engine results and will result in a blog that anyone can find that is looking for the products or information that you have.

Make sure that your blog has the RSS feeds. Having these feeds will allow others to be able to link to you blog. Having many links a huge part of blog marketing that you want to take advantage of as well. When someone uses the RSS feeds from your blog, they are able to get the posts that you make, and will give you a link back from their blog, or website, whichever they posted it on. This is another excellent way to market your blog and will get you the results that you are looking for. You can also use RSS feeds from someone else’s blog on your blog, and return the favor.

Blog marketing entails many things as you can see, whether you are blogging for a hobby, or an income is going to make a huge difference in the techniques that you choose to use, as well as the outcome. Be sure that you are using the best techniques that will get you the results that you want and that you are looking for. If you are not sure what that is, just wait before you actually start marketing your blog so that you wont be wasting any time. Wasting time on something that you are not sure about is almost as bad as wasting your hard earned money on it. Make sure that you are interested in everything that blog marketing entails is a great idea before you start marketing your blog heavily.