“All those years of work are thrown away. To ease your mind is that all you can say? But what about that grandson on your knee? Them railroad songs, Tom would sing to me.” –Robert Plant Many business owners dedicate decades to making their businesses successful. Far fewer owners plan for how they and their businesses will maintain success once …
Change Is OK: How Planning Makes You Focused and Flexible
As a business owner, you manage all sorts of complexity in your work. Goals, expectations, and the people who help you meet them may change. But even though things constantly change, you can still adapt, thanks to smart and focused business planning. After all, if your company couldn’t adapt to change, it likely wouldn’t be as successful as it is …
Is a Family Transfer Right for Your Business?
When planning for the future, you have a wealth of options related to who should continue to run your business. Many business owners’ plans fall short because they are unaware of the many options they have available to them and the pros and cons of each path. One common exit path is a family business transfer. This allows you to …
The Proposed Biden Tax Plan Will Double Taxes When Selling Your Business
The Proposed Biden Tax Plan Will Double Taxes When Selling Your Business If you are thinking about selling your business in the next 4 years this proposed increase in capital gains tax could have a massive impact on the net proceeds from the sale of your business. Currently, when business owners sell their company for more than $1MM they pay …
What Have We Learned?
It is safe to say that this year was full of surprises. Some businesses thrived, while in other areas jobs were lost, companies were forced to go under, and we even lost loved ones along the way. Many businesses were affected by the pandemic in some way or another. According to a survey conducted by the PNAS (Proceedings of the …
Keep Your Family Intact with Proper Estate Planning
It can be difficult to consider what will happen to your business and your family if you die unexpectedly. Without proper planning, you could be leaving your family and/or key stakeholders in a huge mess. Proper planning allows you to keep your business on the right path even after an unexpected tragedy leaves you unable to continue running your business. …
Don’t Let Your Key Employees Jump Ship
Next-level management teams are the drivers behind building business value. But how can you and your advisors attract and keep next-level management teams? The answer lies within incentive plans. When incentive plans are properly designed and implemented, your business has the potential to grow well after you sell. Well-executed incentive plans can motivate each member of your management team to …
If You Don’t Uncover the Skeletons in Your Closet, Your Buyer Will
Starting the preparations to sell your business is never easy. Selling or buying a business comes with mixed emotions and hard decisions. There are a lot of variables to consider. One action item to discuss early is the process of due diligence. In order for you to attract a buyer to your company, you must engage in the pre-sale due …
Ingredients to Jumpstart the Planning Process
Taking on any large project can be manageable when you have a reliable process in place. When deciding to exit your business, for example, you will need a proven process in place to ensure you have covered all the bases. Just like baking, without following the specific process or recipe, you could end up setting off the fire alarms. There …
Affinity Ventures Closes Another Transportation Company Transaction
Affinity Ventures is pleased to announce the completed transaction of Nebraska Salt & Grain Co. (NSG), NSG Transport Inc. (NSGT), and Nebraska Special Grains, Inc. (NSGI) based in Gothenburg, Nebraska. Affinity Ventures along with Murphy Business of South Dakota acted as the exclusive merger & acquisition advisors. The transaction closed on August 21, 2020. This is the second successful transportation/logistics …