Skip to content
Trusted Answers From Licensed Business Professionals
FINANCIAL ADVICE

How To Find A New CEO For Your Company

By The BIDaWIZ Team on November 15th, 2013 at 8:20 am

We're impressed by your ability to recognize that you are not the right person to lead the company. There aren't many entrepreneurs out there that can say they would be able to give up the reins even if it meant a brighter future for the company. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Preparing For Rising Business Costs in 2014

By The BIDaWIZ Team on September 13th, 2013 at 1:53 pm

The upcoming year will yet again be a rising cost environment for most businesses. The economy is expected to grow at a 2.0% rate, which should offset some of the rising costs. What costs can you expect to rise the most in 2014? .
-or-
Share |
No Comments
FINANCIAL ADVICE

Should You Leave Your Job To Start A Business?

By Ryan Himmel, CPA on September 6th, 2013 at 3:04 pm

Budding entrepreneurs working on the next big idea may feel compelled to leave their job to dedicate all of their time to the venture. While we generally agree that you need to take risks when launching a new business, it's recommended to prove your model first and try to maintain a steady stream of cash flow. Here's why. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Updating Your Five Year Strategic Plan

By The BIDaWIZ Team on September 5th, 2013 at 6:25 pm

The 2008 recession brought great change to many businesses. Strategic plans from prior years were changed and in some cases completely scrapped for a greater focus on reducing costs. As a result, many c-level executives are now beginning to question the importance of a five year plan. Despite this sentiment, we believe strategic planning is effective when done properly. .
-or-
Share |
No Comments
FINANCIAL ADVICE, HIRING

Businesses To Benefit From The Delay In The Obama Healthcare Law

By The BIDaWIZ Team on July 4th, 2013 at 12:24 am

Small to mid-sized business owners can breath a sigh of relief or at least until January 1st, 2015. The Obama administration has recently announced that small businesses will have a one year grace period to comply to the new health insurance requirements as part of the Affordable Care Act. What does this mean for your business? Read More.

Share |
No Comments
FINANCIAL ADVICE

Selling Inventory When Closing a Business

By The BIDaWIZ Team on June 6th, 2013 at 10:02 pm

One of the toughest aspects of starting a business is knowing when it's time to call it quits. When that time comes the business owner needs to balance the trade-off for trying to get the most money for the company versus exiting quickly. It's very difficult to achieve both. However, it can be an easy decision if the business can no longer survive on its own. .
-or-
Share |
No Comments
FINANCIAL ADVICE

Should Your Company Have An Employee Stock Ownership Plan?

By The BIDaWIZ Team on April 19th, 2013 at 6:32 pm

Every small business owner will eventually need to think about a succession plan if they don't try to sell their company outright. Recently, a bi-partisan supported bill was introduced to encourage awarding employees partial ownership in your business over time with employee stock ownership plans (ESOPs). The bill specifically intends to remove the barriers for S Corporations to establish ESOPs as well as provides S Corps with similar tax incentives to those offered to C Corporations. Small-business owners who are heavily invested in their companies may want to consider this option. .
-or-
Share |
No Comments
FINANCIAL ADVICE

How Should A Business Owner Set Their Salary?

By The BIDaWIZ Team on March 29th, 2013 at 1:00 am

Business owners are compensated with equity in the company, but they still need a salary to live on. Setting a salary can be tricky as you'll want to be compensated for your work, while also not taking away from the future growth of the company. How should you set your salary? .
-or-
Share |
No Comments
FINANCIAL ADVICE

How Should We Divide Equity Ownership Among Founders?

By The BIDaWIZ Team on March 21st, 2013 at 9:00 pm

There are many different ways to approach equity compensation for the founding team. Thus, there's not necessarily a one-size fits all answer to this question. However, we have some specific recommendations based on our experiences starting a company as well as advising many start-ups. .
-or-
Share |
No Comments
FINANCIAL ADVICE

What Should I Include In My Business Plan?

By The BIDaWIZ Team on March 7th, 2013 at 10:15 am

Naturally, every new business needs to follow a specific plan so that management can set goals and measure performance over time. Yet, new entrepreneurs too often fall into the trap of, "just getting the business started and worrying about everything else later on." Big mistake. .
-or-
Share |
No Comments