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TAG: Business Basics

Prep your family biz for the next gen

December 13, 2018By
Team meeting (Photo: Manustrong)

It’s estimated that family-owned businesses comprise up to 90 percent of all businesses in North America. Many are not adequately preparing to transition leadership to the next generation. According to a recent survey conducted by professional services firm PwC, 43 percent of family businesses had no succession plans in place. This may explain why only one-third of all family businesses... read more

What a banker looks for in a borrower

November 29, 2018By
Credit score app (Photo:

As your company grows, you may look for money to buy vehicles, equipment and inventory. Applying for credit can be frustrating. The first place you’ll probably look is a bank. Bankers’ first priority is to protect their loan portfolios and earn a competitive return on their loans, so you need to give them many reasons to feel comfortable with you... read more

How to hire winning hourly employees

October 16, 2018By
Help wanted sign (Photo:

Few people understand the daily pressures faced by landscape management business owners and managers. And fewer still realize that it’s people—both clients and employees—who are usually the source of these stresses. A mower may malfunction, but you can fix it and count on it to be there every day and on time, too. The handheld trimmer or brushcutter may be... read more

Sometimes it is about the money

September 28, 2018By
Money; Photo:

My (fictitious) operations manager, Tom, just informed me he is leaving the company. I’m shocked. Tom is a good guy, and we have been investing in his development and going out of our way to make him feel appreciated. He recently received a 12 percent raise, and, earlier this spring, we bought him a new truck. His announcement was completely... read more

When the IRS comes knocking for a tax audit

August 23, 2018By

Nothing strikes an emotional chord with small business owners like the prospect of a tax audit. If you practice accurate bookkeeping and obey the tax laws, there’s little to worry about. It’s a matter of proving your company is in compliance. While the audit process may be intrusive, it’s within the IRS’s right to audit your tax returns. When it... read more

How to be a ‘magnetic’ employer

August 1, 2018By
Magnet attracting marbles. Illustration:

Unemployment is at record lows, and there are more jobs available than there are people to fill them. Given this scenario, it’s no surprise that the most pressing concern for business owners and managers nationwide right now is how to find the new hires they need and keep the good people they have. So, how can forward-thinking employers successfully compete... read more