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What’s My Business Worth?

People start a business for all kinds of different reasons.  Some people start a business because they are fulfilling a lifelong passion to create a new product or service.   Others see a new business as a getaway from the grit and grind of corporate America to become their own boss.   There is also a group of people that look at a business as an engine to create cash flow, create a family legacy, and build substantial wealth.   Whatever reason tickles your fancy to start a business, at some juncture if the business has some success most owners ponder the question about what is the value of their business if they were to sell it to another individual.  Here are some smart money moves guidelines in thinking about how to value your business. Like any piece of real estate including your home, the valuation of a business in my opinion is part objective and part subjective.  At the end of the ...

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Stop Trying To Impress People With Your Money

If you are really trying to get wealthy, there are important life lessons to learn that will make you a smart money moves person.   It’s very difficult to pull down your guard when it comes to money.  You might be ashamed or embarrassed around poor financial decisions you made, and then tend to overcompensate by spending too much money just to prove that you can keep up with your friends or neighbors.  Here is a great post on how to build up your bank account and leave the right impression on others. You don’t have to dress for success anymore– Has anyone seen Mark Zuckerburg as of late?   Jeans and a hoodie will do just fine.  Don’t worry about the label on your clothes or your pocketbook. It just doesn’t matter. Be a leader– Perhaps you can be the one to suggest walking around a local fair or flea market, or even going to a free park to throw a ...

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Personal Finance 101 – How To Value Your Business

One of the trickiest details of a good Buy-Sell Agreement is determining the purchase price to be paid for a departing owner’s interest in the business.  Most Buy-Sell Agreements create a formula to estimate the business’s actual “fair market value” and then derive a purchase price for an owner’s pro-rata share of the business.  Sometimes the Buy-Sell Agreement requires the business to be appraised by an independent qualified appraiser with special certifications.  Whether there is a formula in the agreement or an appraiser will be involved, the goal is identifying “fair market value” of the business and the interest to be transferred.  “Fair market value” is often defined as the price that would be paid between willing and independent buyers and sellers, assuming neither is being forced to buy or sell and both have good knowledge of the facts.  If a minority owner’s interest is being acquired or there are restrictions on subsequent transfers of an ownership interest (e.g. in ...

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Top Ten Reasons To Buy A Used Car vs. A New Car

Top Ten Reasons To Buy A Used Car vs. A New Car Someone else pays for your depreciation Auto insurance is cheaper Monthly payments are lower You could buy a car for cash Less worry about having to buy extras Dealer “certification” programs Financing is cheap right now There are used car warranty programs Cars have a longer more reliable shelf life now No new car smell Ted Jenkin, CFP® 11680 Great Oaks Way, Suite 175 | Alpharetta, GA 30022 Phone 1.800.355.9318 or 770.777.0427 Securities and Investment Advisory Services offered through NFP Advisor Services, LLC (NFPAS), Member FINRA/SIPC. Oxygen Financial is not affiliated with NFPAS. NFPAS does not provide tax or legal advice. This site is published for residents of the United States only. Registered Representatives and Investment Advisor Representatives of NFP Advisor Services, LLC (NFPAS) may only conduct business with residents of the states and jurisdictions in which they are properly registered. Therefore, a response to a request for ...

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