Business Advice

By Tim Kolacz “I need you to provide me a solution to the problem you have brought me, not just the problem!” In the past year, how many times as a business owner, CFO, or parent, have you said that to the person in front of you? They bring you …

As a business owner and entrepreneur, I am often asked to speak and write about opportunity cost and how businesses can minimize missed revenue opportunities. While I find great value in helping businesses to maximize marketing budgets and operational systems, I also have had a variety of recent wake-up calls. These …

I’ve created a checklist of twenty-five terms commonly found in a detailed contract for the international sale of goods.  The previous terms can be found here https://iebusinessdaily.com/?s=John+Tulac Here are the final ten terms: Breach, Default and Termination: Specifying the conditions of breach and default is sometimes valuable in and of itself, …

By Edward L. Fixen There are many potential strategies to reduce and minimize tax liability when selling a business. One strategy that is often overlooked is the use of “personal” goodwill for the benefit of both parties in an acquisition. Personal goodwill is distinct from conventional corporate goodwill which is …

By Tim Kolacz When you buy a building, what are you really doing? Are you buying it for the value it gives your company? Is it for the, hopefully, increase in its value over the coming years so that you can sell it at a profit? Or are you buying …

By Michael K. Menerey, Partner, CFO Edge, LLC There is often uncertainty among business owners and entrepreneurs when it comes to determining whether they need the skills of a controller or a CFO. These are critical, high-level financial positions in a small or mid-sized business, so it’s important to make …