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The consequences of being too late for various things in life will vary. Miss the bus? Thatās okay; you can wait for the next one. However, when it comes to exit planning, being too late to build your business into something buyers are interested in can result in the destruction of the value of your […]
Do you stay in contact with your tax professional throughout the year or only reach out come tax time? āRegularly scheduled meetings allow your tax professional to provide valuable advice on managing capital assets, equipment purchases, and other major financial decisions,ā says Peter Thelen Sr., CPA and founder of Thelen Financial. Working Effectively with Tax […]
If you frequently have customer requests for a service you donāt currently offer, you may be tempted to launch a whole new division based on this feedback. While diversification can be beneficial and tap into additional revenue streams when done right, there are some major pitfalls you need to avoid. Mistakes to Avoid The first […]
Just like how no landscape company is exactly the same as another, there is no one right exit strategy. If you are trying to determine which is the best fit for your organization, check out some of the common paths and the monetary implications of each. Types of Exit Strategies Mergers and acquisitions are one […]
Even though your businessās taxes arenāt due until the spring, itās always a good idea to be proactive in your tax planning to maximize deductions and prepare for next year. āA lot of people think about, āHey, what can I do to reduce my taxes this year?ā and a lot of that tax reduction sometimes […]
Your client always has a budget, and you should, too. While you can operate without one, the sooner you start creating an annual budget, the better. Brian Mark, partner and president of Chris Mark and Sons, Inc., based in Pocasset, Massachusetts, says theyāve been budgeting for the last 10 years and over the past five […]
If you have reached the point in your companyās journey where it becomes clear you need the expertise of an advisory board, there are a number of considerations to build your board successfully. Not only do you have to find engaged, knowledgeable individuals but you also have to determine how they will be compensated and […]
Ideally, your company has been budgeting from day one, but many landscape companies have been guilty of not truly budgeting in earnest for years. The good news is your business can benefit from adding a budgeting process no matter how long youāve been operating or how big youāve become. When to Budget If youāve decided […]
As your landscape company grows, the need for a higher level of strategic guidance may be necessary. One of the ways to gain powerful insights is to create an advisory board so you have additional expertise you can tap into. āWhen you grow outside of your skill set as a leader, thatās when I think […]
The question of whether itās the right time to add a new offering to your landscape business or eliminate a service line calls for evaluation of several different factors, including your financial metrics, your staffās capacity and customer demand. When to Diversify Fred Haskett, founder ofĀ TrueWinds Consulting, says itās a good time to consider diversifying […]
