by Leif Jensen | Jul 23, 2018 | General |
We were reviewing a practice that was up for sale. There were a tremendous amount of positives associated with the firm such as the number of clients, the initial location and movability of the base. But, the average tax return fees were at a commodity levels, less...
by Leif Jensen | Jul 18, 2018 | General |
I took my wife to see a Q&A session with Patton Oswald, she is a fan. I found points of the dissuasion to be very relevant to potential entrepreneurs. Repeatedly people would come up and ask how to get into the industry or be discovered. I thought his response...
by Leif Jensen | Jul 17, 2018 | General |
Companies are being creative in how they strive to remain relevant in our rapidly changing world. When behemoths like Bank of America and UPS are in reality multiple businesses, small businesses need to be on guard constantly, looking for ways to be innovative and...
by Leif Jensen | Jul 16, 2018 | General |
You are no longer a start-up you have been in business for a number of years and the business has grown nicely. But it is also getting to the point where you are spending more time than you wish on the administrative side of the business, which you do not enjoy nor...
by Leif Jensen | Jul 11, 2018 | General |
When we are meeting with a potential new client, we find that they have already taken some steps in starting a business without asking or being asked any questions, let alone the right questions. They have created an LLC or a Corporation already in place. We believe...
by Leif Jensen | Jul 10, 2018 | General |
ROI can be defined a number of ways, the two that I am referring to are: · Return on investment · Reliability of income When running a small business both of these definitions can be key influencers are most likely ignored. Return on investment, small...
by Leif Jensen | Jul 9, 2018 | General |
I find it interesting when public or private companies have two classes of stock. The purpose it always for the same reason, for the power of the company to be under the control of just a few. I have worked with clients of Wrigley stock, the employees were issued...
by Leif Jensen | Jul 3, 2018 | General |
When I am talking to prospective clients they are sometimes surprised when they ask about our other clients. We work with a wide variety of clients some are start-ups and others are multi-generational companies. They all need to be flexible and need to change with...
by Leif Jensen | Jul 2, 2018 | General |
I was introduced to a small business owner a while ago who seemingly was approaching their start-up from a completely academic manner, or in other words they read some books on how to start a business and then started a business. What was odd is that this is not...
by Leif Jensen | Jun 27, 2018 | General |
When I have someone coming in explaining that they want to start a business, I like to meet the prospective entrepreneur along with their spouse. If I am lucky and they both come in, when I am asking questions of the would be entrepreneur I am looking at the spouses...
by Leif Jensen | Jun 26, 2018 | General |
Does your business have a value statement? Should your business have a one? The broad definition is: A declaration that informs the customers and staff of a business about the firm’s top priorities and what its core beliefs are. Companies often use a value...
by Leif Jensen | Jun 25, 2018 | General |
I was meeting with a client and they brought up the ZTE problem. Their take on the issue was slightly different from the news. They believe that any and all information and data from an ZTE device was collected and is now in the possession of the Chinese government....
by Leif Jensen | Jun 20, 2018 | General |
Have you thought of having your IRA lend money to your father? If so know that this is a prohibited transaction. In 2013, a woman attempted to roll over her IRA assets into a new retirement account (probably a self-directed IRA). The assets of the IRA consisted of...
by Leif Jensen | Jun 19, 2018 | General |
I have a client that was looking to the outside for their first non-family member for their C-Suite. I had a small part of the process during the interview process; it was interesting seeing the process from my viewpoint. I challenged the applicants on their require...
by Leif Jensen | Jun 18, 2018 | General |
In 2018 loans to small businesses backed by the SBA have risen 4% this year and are on pace to beat the tally from 2017. Personally I am not a fan of the SBA, the costs are huge and they are designed to protect the banks not the borrowers. The SBA’s flagship loan...
by Leif Jensen | Jun 13, 2018 | General |
I was having lunch with a banker and they were telling me about the problems they were having with a nameless client. It seems that their client works in a perceived specialized field; it’s actually not, its retail with a small educational component. So they were...
by Leif Jensen | Jun 12, 2018 | General |
Do you know how active is that “actively managed” mutual fund you’re invested in? Probably not, and yes that is typically a rhetorical question. But in the not too distant future you should have a clearer picture for many funds. Large asset managers, including T....
by Leif Jensen | Jun 11, 2018 | General |
When I am working with my client’s and I let them know that they are in the top 10% of the country they typically are aghast. The threshold for the top 10% of earners is just over $138,000. That could easily be a married couple both making $70,000, with a mortgage,...
by Leif Jensen | Jun 6, 2018 | General |
Size does matter to some. There are those who become entrepreneurs to be world class, the best of the best, leaving all others in the dust. Then there are those who want to basically create a job for themselves to cover their bills and provide for their families. ...
by Leif Jensen | Jun 5, 2018 | General |
I am approached by financial advisors regularly; they are prowling only for high net worth clients. Now every high net worth client that I have, has at least one financial advisor and a few have a couple. Some even run their own investment accounts as well. Now,...
