Owners’ Academy

Effective March 12, 2024, New York Labor Law prohibits employers from requiring employees and job applicants to provide information about their personal accounts. If you think this sounds familiar, you are right. This idea has been in place in various states for years; now New York is joining in! Under the new legislation, “personal accounts”…

Unlocking Retirement Savings to Fund a New Business Many people have dreams of starting a business but lack the capital or funding needed to launch their new business ideas. It’s true: It costs money to start a business. The US Small Business Administration (SBA) says that how to fund a business is one of the…

In order for your family business to outlive its founder, careful succession planning is a must. That means finding the most frictionless way to pass both leadership and ownership from one generation to the next. While some family business dynamics lend themselves to smooth and simple succession, others hit bumps in the road. One of…

Accurate Asset Assessment for Fair Distribution: When planning an estate, one of the primary concerns is ensuring a fair and equitable distribution of assets among beneficiaries. A professional valuation provides an accurate and unbiased assessment of the true value of all assets, including real estate, investments, businesses, and personal property. This is essential to avoid disputes…

Attention all Paycheck Protection Program (“PPP”) loan borrowers, the Federal Bureau of Investigation is combing through PPP loan records to identify borrowers who committed fraud related to the program, and they are not alone.  The U.S. Small Business Administration (the “SBA”) is auditing all PPP loans of $2 million or more, and the Department of…

Business owners, advisors, and buyers frequently have widely different impressions of value when it comes to a business. The Pepperdine Private Capital Markets Survey canvasses intermediaries who sell privately held Main Street and mid-market companies. One question is about the obstacles that prevented the sale of a business. The number one response is “Owners’ unreasonable…

Whistleblowers can blow their whistles a little louder tonight. The Supreme Court’s recent ruling, Murray v. UBS Securities, LLC, decided that an employee may prove a whistleblower retaliation claim without showing that their employer acted with retaliatory intent. As a result, it is now easier for employees to succeed on whistleblower retaliation claims under the…

In the competitive world of business, marketing plays a pivotal role to drive revenue generation, brand equity, and overall business valuation. Companies that view branding and advertising as a growth strategy are twice as likely to see revenue growth of 5% or more than those that don’t (source: “Put Marketing at the Core of Your…

Unleashing the Power of Collaboration Today, we’re diving deep into a powerful quote by Jim Stovall that packs a serious punch: “You need to be aware of what others are doing, applaud their efforts, acknowledge their successes, and encourage them in their pursuits. When we all help one another, everybody wins.” Are you ready for…

Do You Need a Virtual CFO? Every company must find an efficient way of handling accounting and bookkeeping functions. For many businesses, an outsourced accounting solution makes good business sense and provides much needed support with financial management. Some businesses and high net worth individuals will want to take their financial operations to another level…

On January 9, 2024, the Department of Labor (“DOL”) announced a six-factor test for determining whether a worker is an independent contractor or an employee under the Fair Labor Standards Act (“FLSA”). This new rule takes effect on March 11, 2024. Classifying workers as independent contractors or employees is extremely important—independent contractors do not receive…

Purpose after the sale is one of the biggest challenges for an exiting owner. Purpose – “Having as one’s intention or objective.” Many exit planning advisors discuss the three legs of the exit planning stool – business readiness, financial readiness and personal readiness. In our previous two articles, we focused on two of the “big…

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“I should demote myself!” joked the head of sales. “It looks like I am better at selling than at managing a sales team.” We were looking at his team’s individual sales numbers. He was selling more when he was a regular salesperson than his whole team today. We too often promote the wrong person into…

Effective March 12, 2024, New York Labor Law prohibits employers from requiring employees and job applicants to provide information about their personal accounts. If you think this sounds familiar, you are right. This idea has been in place in various states for years; now New York is joining in! Under the new legislation, “personal accounts”…

Unlocking Retirement Savings to Fund a New Business Many people have dreams of starting a business but lack the capital or funding needed to launch their new business ideas. It’s true: It costs money to start a business. The US Small Business Administration (SBA) says that how to fund a business is one of the…

In order for your family business to outlive its founder, careful succession planning is a must. That means finding the most frictionless way to pass both leadership and ownership from one generation to the next. While some family business dynamics lend themselves to smooth and simple succession, others hit bumps in the road. One of…

Accurate Asset Assessment for Fair Distribution: When planning an estate, one of the primary concerns is ensuring a fair and equitable distribution of assets among beneficiaries. A professional valuation provides an accurate and unbiased assessment of the true value of all assets, including real estate, investments, businesses, and personal property. This is essential to avoid disputes…

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