Posts Tagged "goals"

Effective Financial Management for your Family-Owned Business

Posted by on Dec 19, 2014 in Family Business, Financial Freedom, Transition Planning | 0 comments

Effective Financial Management for your Family-Owned Business

Financial management is one of those phrases that can feel irrelevant to your small or family-owned business. What does it actually mean? Does it involve hiring a Chief Financial Officer or holding long board meetings? When we talk about financial management at Henry H Jones, CPA, what we’re helping you understand is far more than knowing what accounting records you should keep, or even the current status of your finances. Good financial management means that you have a clear and up-to-date view on how your business is performing in all the critical areas. This is not something that is left to your bookkeeper, or even to your accountant! It’s your responsibility as...

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Take Your Family Business to the Next Level – Personal

Posted by on Dec 19, 2013 in Family Business, Freedom, Personal Freedom | Comments Off on Take Your Family Business to the Next Level – Personal

Take Your Family Business to the Next Level – Personal

Yesterday we talked about building financial freedom by taking your family business to the next level in 2014. Today we will focus on building personal freedom. So what is personal freedom? It means something different to everybody. For some it’s peace, for some it’s love. Perhaps it’s the freedom to do what you want to do, when you want to do it. Maybe it’s creating time for family and friends, for yourself, to read a book, take a walk, work on your business or commune with nature. In setting your goals for personal freedom in the future, your first step is deciding what personal freedom means to you. After the holiday season many of us focus...

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Take Your Family Business to the Next Level – Financial

Posted by on Dec 18, 2013 in Family Business, Financial Freedom, Freedom | Comments Off on Take Your Family Business to the Next Level – Financial

Take Your Family Business to the Next Level – Financial

As a new year approaches my thoughts often turn to how I can take my family business to the next level. Financial issues come to mind as we work on our business and family budgets for the new year. I’m sure that many of you do the same. I don’t know if it’s the turning of the calendar or the fact that, here in the northern hemisphere, the days will soon be getting longer that inspires us to reconsider our goals for the future and look back on where we’ve been. So what do we need to look at in determining where we’ve been and, more importantly, where we are right now? Your family business is likely your largest asset and your primary source...

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Children in the family business: Do they really want it?

Posted by on Dec 5, 2013 in Family Business, Transition Planning | 0 comments

Here’s another story for you about children in the family business and passing it on to the future generation – and like all good stories, this one is true.  It is the uncle of someone I know, who was a farmer. This man and his brother owned a large and very successful farm. They had taken over the running of the family owned businesses from their father, and he had taken it over from his. Both brothers were highly ambitious and worked extremely hard. They had big plans to grow the business and they regularly worked very long hours starting work early in the morning and working through till late in the evening. Their plans came to fruition. Most of the profits were...

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