Hello world!

Welcome to our  blog! This blog is for entrepreneurs who are trying to grow their business & assets in order to have more to retire on than they would if they worked for a large company for 30 years & retired. Besides, who does that anymore? The goal is to get the most out of your life’s work, for you & the people you care about most. It is about setting goals, devising a plan & selling (for example) a $3mm company & retiring, instead of a $1mm company. OR…a $10mm company instead of a $5mm one. No, this is not a blog about “goal setting”, but it is about exchanging ideas & information with other business owners who are, like you, concerned about having at least the same standard of living in retirement as when they are in the latter part of their working life. Running a business for 30 years & retiring on S.S. is not the plan, but many business owners end up that way. If we all put our heads together, we can all end up better off at retirement time. This is especially true for young entrepreneurs because you have much more time to plan & accumulate, & more time to make expensive mistakes. Small mistakes as well as small strategic moves now, will grow many times, over the years. So, for young entrepreneurs as well as boomers nearing retirement, this should be a valuable site. The current economic environment dictates the need to be resilient, strategically smart & very stingy with assets, resources & time & very efficient in their use. As always, cash is king & marketing drives cash flow; it’s about making more, using it wisely & keeping more. When building a business over the years, all planning should be done with an eye to the final goal. For example, an owner in his late 50′s sold his company to his son. After paying five years of rent to the father for the building the company was in, the son discovered that the building was owned by the corporation the father sold to the son. Dad forgot that he had put the deed in the company’s name, many years ago when he incorporated the sole proprietership. If he had been working from a strategic plan written when the company was started, & monitored  as the company grew, that oversight may not have happened. As it was, he had a big tax can of worms to fix. Business brokers & M&A people see these things often. Retirement time is not when you want to find this kind of problem.  These are some of the things we can learn form each other & we are looking forward to meeting some interesting people.   Welcome!