Moving On: How to Pass Your Business on to Family Members

You’ve worked hard to make your business the success that it is today, and you’re nearing the point where you’re ready to pass it on to your children. Like all business decisions that you’ve made up to this point, transitioning the company to the next generation requires a lot of careful consideration and preparation. Before you start planning, however, ask yourself a hard question: are any of your children Read More

Time for a Change? Ask Yourself These 4 Questions Before You Decide to Sell Your Business

It seems like only yesterday that your business was a tiny but promising startup. Now you’ve received an offer that reflects how much the company has grown, along with its value. The prospective buyer is offering enough money to fund the next stage in your life, whether that be retirement or funding another business, but is now the time? Is this the right move for you and the company? Below is a list of four Read More

7 Signs a Business Is a Good One to Buy

Buying an existing business can be an excellent investment. Turnkey operations don’t involve the often-challenging startup phase, but they do have an existing product line and customer base. Everything is already in place, from incorporation to inventory, so you’re ready to start making money once the sale is finalized. It sounds great, but here’s a caveat: businesses are a lot like used cars. You can buy one that Read More

How to Build a Management Team to Take Your Business to the Next Level

When a customer asks you the price of something you sell, your reply will be confident and immediate. But what if someone wants to know how much your business is worth? What would you tell them? If you don’t know for sure, you’re not alone. Few business owners know for sure what their company is worth. They may venture an estimate based on the sales prices of similar businesses, but the figure is usually way off Read More

6 Things Innovative Leaders Do to Build Success

Companies need to innovate to grow and stay ahead of the competition. If you take a closer look at organizations like Amazon and Airbnb, it becomes clear that they are always anticipating the next trend, listening to what their customers want, and willing to shatter the status quo, even if doing so makes them into a different company. Leaders at these and similar companies build success because they embrace goals Read More

Three Ways to Discover the Innovation That Will Meet Customer’s Needs

Marketplaces everywhere are becoming significantly more competitive, thanks to the new technologies and greater trading and information-sharing opportunities made available by the Internet. Innovation and the successful execution of new ideas are essential to a company being able to bring new and improved offerings to the market, become more profitable, and, most importantly, meet customer needs. Innovation can Read More

Planning Your Next Chapter: What to Do After You’ve Sold Your Business

You may have been dreaming about this day for a while. You sold your business for a price that reflects the years of hard work you put into it, and now, sizable check in hand, you’re already contemplating your next chapter. For many entrepreneurs who sell a successful business, the quest for new ideas or opportunities begins almost immediately. You could afford to spend the future fishing or out on the golf Read More

How Can the Tax Cut and Jobs Act Benefit You?

Everyone is trying to figure out how the new Tax Act affects them.  Have you determined whether your tax bill will go up or down? As a business owner, it’s up to you to not only earn money to support your lifestyle but to set aside sufficient money to pay for taxes, business expenses and fund your future retirement. Getting the most use out of what you earn is key. The Tax Cut and Jobs Act of 2017 Section 199A Read More

The New Years Tradition that has Changed My Life

At Soterian, our blog posts and newsletters are focused on our mission of helping business owners Find their Why, Find their How and Find their When through strategic planning, life mastery and tax redirection. As today is the first working day of the Year and our team is heading into annual planning, I thought it would be beneficial to share one of the personal end of the year/beginning of the year habits I have Read More

The Surprising Way Companies Like Netflix and Amazon Conduct Market Research

Companies like Netflix, UrthBox, and Amazon are leveraging the subscription business model to discover what their customers want next. In a traditional business, the customer buys your product or service once, and it is up to you to try to convince them to buy again in the future. You often have no idea if they liked what they bought and what would have made them buy more, so you're left having to guess or invest Read More