Risky business: managing risk in the small business world

Does your bucket have a hole in it?

Once someone knows that you are a reader, they will ultimately ask you, “What’s your favorite book?” Now, this is never an easy question, and it seems that I always have to stop and think before giving an answer. And I usually lay-up by providing a list instead of a definitive title. This list is constantly evolving as I continue to read more books. But one book that always makes the list is Charlotte’s Web by E.B. White. Charlotte’s Web is one of those classic books that requires rereading throughout life. It can be equally enjoyed by a small child and a grown adult. I remember reading this book aloud to my children before they were old enough to read for themselves. I am sure my daughter dreamed of being Fern, rescuing the runt pig from her heartless father. Meanwhile, I was thinking about John Arable, yielding to the pleas ...

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Helpful retirement options for successful entreprenuers

Entrepreneur Retirement Options

I had a great meeting with one of my long-time small business clients last week. The client is a family business established many years ago by Mom and Dad and is currently in a transition period. Mom and Dad are in their seventies and their two sons are beginning to take over daily operations of the company. All four family members are stockholders. The meeting was with the four to discuss the current fiscal year-end. One topic that came up concerned Dad’s ability to continue to receive income from the company. He is looking ahead at either fully retiring or substantially stepping away from daily operations. Dad, who I will refer to as Jerry, has been contributing to the company’s retirement plan. But he is concerned that distributions from the plan will not be adequate for his retirement. More importantly, he wants to receive an income stream from the company ...

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About David

About David

David is an accountant and adviser for small business owners. He also coaches clients on leadership and success. David is an avid reader. He blogs regularly on the books that he is currently reading.

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