Blog – Legacy Business Advisors

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What’s “Top of Mind” For Your Business?

Nearly 80% of business owners rely on their business as their largest retirement asset. In spite of this, business owners by and large neglect the need for planning to ultimately receive what they need from the business to secure their retirement income needs. A recent poll found that the majority of business owners don’t have [...]

2019-04-01T20:59:00+00:00

Legacy Advisors Network’s Five Phases of Succession Planning

Are you ready to transition your business? At some point, every business owner will confront the fact that it’s time to selling the company to outsiders or transferring it to insiders. While succession is always on the horizon, a majority of business owners are not only unaware of their company’s value, but they also have [...]

2019-04-01T20:54:40+00:00

Pros & Cons of Selling Your Business to Your Employees

As a business owner, a vital component of your strategic plan is your exit strategy. When it comes time to part ways with your business, many owners face the same dilemma: Who is the best person to sell the business to? While there are several options, owners typically consider selling the business to an employee. [...]

2019-04-01T20:52:54+00:00

5 Mistakes to Avoid During Succession Planning

Business woman hands connecting jigsaw puzzle. Business solutions, success and strategy concept. Businessman hand connecting jigsaw puzzle.Close up photo with selective focus. Forty percent of business owners have no retirement savings. Many business owners have neglected this critical component of financial preparedness in favor of reinvesting into their company and trust that their [...]

2019-04-01T20:50:50+00:00

How to create a phantom stock program that works.

What does an employee’s two-year anniversary look like at your company? At USA Financial, when a full-time team member passes the two-year mark, they celebrate with more than just a note of appreciation or free dessert — they become a member of Team GAS, the company’s phantom stock program. Nine years ago, USA Financial’s CEO Mike Walters brought [...]

2019-04-01T20:48:50+00:00

Are you prepared for your ideal future?

You have toiled for years, or even decades, with plans of hitting the golf course several times per week, traveling the world or moving to a different climate to enjoy your retirement. You may imagine a future spent sleeping in, reading books, catching up on your favorite television show and cooking delicious meals with your [...]

2019-04-01T20:47:54+00:00

Retiring, but not from business: Can you have your cake and eat It, too?

Retirement is not far away—especially for members of the Baby Boomer generation. This may be a threatening reality, as working for or owning a business is an inextricable part of many Americans’ lives. With more than 60 percent of privately held small businesses owned by Baby Boomers, there is expected to be a massive exodus [...]

2019-04-01T20:33:03+00:00

Do you know the value of your business? Here’s why it matters.

At some point, you will leave your business—with or without a well-defined plan. Planning for succession is oftentimes left until the very last moment, as business owners struggle to create a detailed strategy in advance. In fact, only 13 percent of business owners have any succession plan at all. It is a crucial part of [...]

2019-04-01T20:31:58+00:00