Personal Financial Planning for Family Business Owners: Providing for the Future Without Rocki

Personal Financial Planning
for Family Business Owners:
Providing for the Future Without Rocki

How do you plan for retirement when most of your wealth is tied up in the business? That’s the challenge facing many owners of small and mid-size companies.

For owners of family businesses, though, that is just the beginning of the challenge. Because they must not only deal with approaches for generating retirement income, but with delicate family planning issues as well.

If the next generation of family members won’t be involved in the business, personal financial planning could take one course. If some members of the next generation want to be in the business and some don’t, personal financial planning could take another course. And if all members of the next generation expect to be in the business, it could take still another direction. More…

Business Plan Tips That Really Work

Business Plan Tips That Really Work

by David E. Gumpert
NetMarquee Online Services Inc.

Few assignments confronting entrepreneurs are tougher than that of writing a business plan. The assignment typically comes up when businesses must seek financing–and it must be completed quickly, and under pressure.

What follows is an outline of the key practical issues associated with developing a business plan–the length, the key sections, and the writing process.

What Is a Business Plan?

  • A Good Definition: By answering this question, you get a handle on how to handle the tone and direction of your plan. Most fundamentally, a business plan is a document that convincingly demonstrates that your business can sell enough of its product or service to make a satisfactory profit and be attractive to potential backers.It’s a selling document that you write for potential backers. More…