Thoughts on Business Transitions
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Minimizing Taxes to Help Maximize Wealth
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor Tax minimization is likely a key part of running your business. When you can position your company to pay only what it must in taxes, it could give you more money to take home or reinvest in your business. But are you preparing how you’ll minimize your taxes…
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How Business Value Affects Your Future
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor An accurate business valuation is one of the more important elements of planning for a successful future. But the journey to determine the true value of your business is full of dead ends and pitfalls. In this newsletter, we will examine four elements of business valuation: Valuation Basics Business valuations are a compilation…
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Why DIY Planning Can Cost More Than You Think
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor Successful business owners have a knack for finding solutions to difficult problems all by themselves. The sense of individualism and self-reliance is often the spark that started the business in the first place. But as a successful business grows, it becomes increasingly difficult, if not impossible, for business…
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Balancing Opportunities With Risks
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor There are a few better feelings for business owners than winning a huge contract or being offered an opportunity to expand the business. But these big opportunities could come with unforeseen risks. How can you determine when to pursue a game-changing but risky opportunity and when to play it safe? Often,…
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Personal Tragedies and Operating a Business
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor Running a business is challenging under even the most perfect conditions. But what happens when you, as a business owner, are confronted with personal tragedies or other events that require you to take time away from your business? Can your business run well without you at the helm…
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Art gallery from local artist Jenny McGee
“Hidden in Plain Sight” Hightower Signature Wealth in St. Louis is proud to showcase local artist Jenny McGee in our office’s gallery space. Jenny works with real pearls, turquoise, and diamonds to give texture to her abstract paintings. These are materials forged under pressure, showing resilience and reminding us that every dark period ends and…
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Finding Talent in a Tight Labor Market
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor In tight labor markets, it can be difficult to hire the quality employees your business needs for continued growth and success. At the same time, your business needs to retain the good employees that you currently have so they don’t leave for greener pastures. What are some things that you can do to entice outsiders to come work for…
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Are You Bottlenecking Your Business?
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor As you grow your business, you will likely make the biggest, most important decisions about the trajectory of your business. But sometimes, this can create bottlenecks. Your business may require you to delegate more responsibility to others for one simple reason: You are only one person. However, when delegating tasks, you may want assurance that…
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The Business Owner’s Balancing Act: Growth vs. Burnout
Neal Furlong, ChFC®, CEPA®, CLU®Senior Wealth Advisor For most business owners, growth is good. But there are situations where growth can position the business to fail and business owners to burn out. Let’s look at a fictional but representative example of when growth can get out of control and why it’s so important to have a written process…
