E-discovery Gives New Meaning to Record Retention
The age of technology has brought about many good things. The ability to search, find, save and retrieve information in a flash has made us more efficient in many ways. But, it has also opened us up to risks we may not have anticipated. For years, businesses have dealt with the necessity of record retention….
How to Give Sincere Praise for a Job Well Done
Giving praise that really hits home and is appreciated by employees and volunteers is something of an art. Simply saying “Nice job” is fine for the little things, but when an extra effort has been exerted, it warrants more than that. Here are four steps to giving sincere praise: 1. Be specific. Tell them exactly…
How Discounted Cash Flow Works
Discounted cash flow is a widely used income approach method of valuation. What does it mean to discount? A discount is a deduction made to a sales price or value. With that being said, how is a deduction to value a valuation method? Here’s a brief look at how it works. A potential buyer of…
Would A Former Employee Sabotage Your Company?
It used to be that a disgruntled employee might sabotage the company by damaging equipment or stealing important papers. It was clear what needed to be guarded. But nowadays, the same employee can wreak far more vengeance while sitting quietly at a computer. New threats call for new precautions. Are your company’s sabotage/prevention procedures keeping…
What Fundraising Methods Are Used Most?
How do most nonprofit organizations raise their funds? By a variety of means, of course, but a recent survey shows that approaching corporations and foundations is the No. 1 way charitable groups go about fundraising. A 2011 survey of more than 800 nonprofit groups by The Nonprofit Research Collaborative found that 90 percent of charities…
Clean Up Hidden Liabilities Before Selling Your Business
You are ready to put out feelers for selling your company. Perhaps you have contacted your CPA to have some preliminary due diligence begun. As you prepare to finalize your asking price, issues arise that you hadn’t planned on. Hidden liabilities – those unplanned-for nuisances that can depress the value of your company – can…
Survey: Home Ownership Still Smart
A high percentage of U.S. homeowners still believe that it’s a smart long-term decision to own a home despite the current housing slump, according to a recent survey by the National Association of Realtors. When considering a period of years, 95 percent of current homeowners and 72 percent of renters think it “makes more sense…
Negotiating with Vendors Can Help in Tough Times
It’s a simple fact of business today – customers need a break when they can get it. And if you’re a business owner, you’re most likely a customer, too. You’ve probably dealt with the same vendors for years – and perhaps have grown to take each other for granted. Is it time to start negotiating…
How to Create An Effective RFP
There may be times when your organization needs the expertise of an outside vendor or consultant. Finding the right one isn’t always easy. An RFP – a request for proposal – can help. Writing an RFP is easier than it sounds – and a lot easier than cleaning up later because the vendor you hired…
Changes in Valuation Techniques will Affect Business Owners
Business valuation can seem to be as simple as a multiple paid against your last year’s earnings. But the truth is, valuation is an ever-evolving field, and recent advances continue to affect how valuations are performed. The goals are still to determine “What is the right multiple?” and “What discounts or premiums apply?” Recent changes…