Common Mistakes Small Businesses Make

“Ideas are the beginning points of all fortunes.”Napoleon Hill (American author, 1883-1970)
Carl Raff & David Williams
www.BEAdviceNow.com

Top 10
Common Mistakes Small Businesses Make
Executing a plan to
Grow, Protect & Transfer Wealth

The plan for many business ownersis to grow, protectand transfertheirwealth.
Our goal is to identifycommonfinancialpitfallsthatjeopardizetheir plans for success.
3

Grow
Seed/StartupIgnoringthe financialside…undercharging
Venture CapitalAvoidingPlanning/Research…putting the plan on paper
PrivateEquityIneffective marketing
Initial Public OfferingLackof Capital for Growth
4

Protect
AssetProtectionIf It Looks Like a Duck…
Retirement PlanningDelayingProfessional advice
Key Person InsuranceTryingto do it all yourself
5

Transfer
SuccessionAvoidingdifficultdecisions
Transition/SaleNot respectingemployees
TaxesToo Much, TooSoon, TooLate
6

Business ownersdevote a large part of theirlife—time, energy, and labor—to build and runtheir business.
Theyneed a plan thatacknowledges how much of theirwealth—and theirenergy—isconcentrated in their business.
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