In today's discussion, we delve into the crucial topic of succession planning and its impact on your financial future. The article from The Economic Times emphasizes the necessity of thorough planning to achieve desired outcomes. Rich and I stress the potential consequences of neglecting this important aspect of financial management, urging our audience to take proactive steps towards securing their retirement goals.

The Harsh Reality of Selling a Business: Why 80% Are Sold at a Discount This article delves into the sobering statistic that 80% of businesses are sold at a discount or not sold at all, leaving many owners in a difficult position when it comes to funding their retirement. Despite having decent profits and potential, these companies face obstacles that prevent them from achieving their full value on the market.

Leah Kallas, General Manager at Great Lakes Skilled Trades, brings industry expertise to the discussion on maximizing revenue and retaining talent in successful companies. Her observations will shed light on effective strategies for business growth.

By focusing on the future outlook for business in the coming months, the passage underscores the need for proactive planning and adaptation to changing circumstances. It suggests that businesses should not wait to see how things unfold but rather take steps now to position themselves for success.

In this episode, Shelly Dretzka, owner of aHRrow, discusses the importance of a people-first approach in HR consulting for small businesses. With 25 years of experience in HR, she emphasizes the need for leaders to prioritize hiring and retaining talent in order to build successful performance cultures.

The importance of having a reliable and efficient accountant for your business cannot be overstated. However, it is crucial to stay vigilant and take note of any changes in the services you are receiving from your accounting firm. This includes delays in receiving financial statements, an increase in errors impacting tax filings, and a lack of guidance from CPAs.

As a business owner, it is important to constantly be looking for ways to improve your operation and finances. In this Independence Day edition, we are sharing our top 10 actions that you can take to make a significant impact on your company. By implementing these strategies, you can create your own fireworks and set your business up for success in the second half of the year.

Procrastination is a common behavior that affects everyone at some point in their lives. Whether it's putting off a task until the last minute or delaying important decisions, we all have a tendency to procrastinate. However, when it comes to business, procrastination can be particularly costly. In fact, studies have shown that when we delay taking action, we end up spending 3 - 5 times more than if we had acted promptly.