andreweverett360 Book Review, Finance

HBR Guide to Buying a Small Business


HBR Guide to Buying a Small Business: Think big, buy small, own your own company
by Richard S. Ruback and Royce Yudkoff

This book provides a methodology to find, evaluate, finance, and acquire a small business. The autonomy of entrepreneurship is compelling to many, but the failure rate of start-ups is high—more than two-thirds of them never deliver a positive return to investors. In contrast, this approach seeks to buy and manage an existing “enduringly profitable” business. The authors teach a course in entrepreneurship through acquisition at Harvard Business School.

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andreweverett360 Book Review, Finance

Small Business Finance and Valuation


Small Business Finance and Valuation
by Rick Nason and Dan Nordqvist

A finance professor and a CPA have teamed up to explain finance and risk management concepts specifically for small business, defined as assets under $5 million. They acknowledge that the objectives of small business owners often differ from those of a Fortune 500 CFO, whose focus is typically maximizing shareholder value. Freedom, peace of mind, and other quality of life issues may be more important to a small business owner.

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andreweverett360 Book Review, Management

How to Build a Better Business Plan


How to Build a Better Business Plan: A Hands-On Action Guide for Business Owners
by Alastair Thomson

One of the primary benefits of a business plan is “finding a business model that works.” Alastair Thomson, an accountant and experienced C-level executive, guides you to think from a lender’s or investor’s perspective, whether or not you are seeking outside financing. From their side of the table, would you find your business compelling?

The completed plan becomes your “roadmap” for execution. “With the right business plan, you do your thinking up-front. You know how to take advantage when new opportunities come your way and you know exactly what problem needs solving if performance veers off-course.” Thomson encourages planning for three scenarios: best-case, worst-case, and likely outcome. “The biggest danger for a pessimist is under-resourcing their business.”

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andreweverett360 Finance, interview

An interview with Alastair Thomson author of Cash Flow Surge

After posting more than 250 book reviews, I decided to try something new: an author interview on YouTube. I am grateful to Alastair Thomson for graciously sharing his wisdom on managing small and medium-sized businesses. Alastair has an accounting background, but this conversation is not about debits and credits. It’s about improving your business from the perspective of an experienced CEO and CFO. We cover cash flow, profit, customer experience, metrics, business ethics, marketing, quality, continuous improvement, front-line employees, growth, margins, inventory, and receivables.

An interview with Alastair Thomson, author of Cash Flow Surge
July 16, 2020 – 1 hour – Book Review – Amazon

Transcript

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andreweverett360 Book Review, Law

Nolo’s Quick LLC


Nolo’s Quick LLC: All You Need to Know About Limited Liability Companies
by Anthony Mancuso

“The limited liability company (LLC) is a relatively new business ownership structure that combines the best features of the corporation and the partnership. It gives small business owners corporate-style protection from personal liability while retaining the pass-through income tax treatment enjoyed by sole proprietorships (the legal term for one-person businesses) and partnerships.” LLC owners are called members.

To determine if an LLC is the best fit for your business, the author explains the advantages and disadvantages of various business structures in comparison to LLCs, including sole proprietorship, general partnership, limited partnership, C corporation, S corporation, RLLP, Series LLP, L3C, and benefit corporations.

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andreweverett360 Book Review, Marketing

Duct Tape Marketing

duct-tape-marketing


Duct Tape Marketing
by John Jantsch

Jan Jantsch writes, “Marketing is getting people who have a specific need or problem to know, like, and trust you.”  The Duct Tape Marketing System is about identifying the target customer, articulating a consistent core message, generating qualified leads, educating prospects, and encouraging existing customers to refer new business.  The author presents many good ideas for marketing small businesses.

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