Business Owner Resources

Please check out the various newsletters and white papers geared towards business owners, courtesy of Wells Fargo Private Bank.

2022 Outlook for Business Owners

When is the last time you asked yourself, "What do I want from my business?" As we turn the page to 2022, after two years of dramatic change in the economy, the markets, and personal lives, many business owners are reflecting on and reevaluating their intentions like never before. 

No matter how your busiess fared through the pandemic, protecting and capitalizing on the value of your business is a top priority. This outlook is intended to help you assess several factors that can have significant impacts to business owners and suggest key actions to consider as you plan for the upcoming year.

To read the full report written by Tracey Gillespie, National Director Business Owner Advisory, William Keller, Regional Chief Investment Officer, Sam Farnham, Head of Americas M&A, & Stuart Green, Senior Wealth Planner, please click here.
*By clicking on the link you are entering a website that Wells Fargo Advisors does not control. Wells Fargo Advisors has provided this link for your convenience, but does not endorse and is not responsible for this content, links, privacy policy, or security policy of this website. The material has been prepared or distributed solely for information purposes and is not a solicitation or an offer to buy any security or instrument or to participate in any trading strategy.

Wealth Planning Updates & Newsletter Archive

Provided Courtesty of Wells Fargo Bank, N.A.

The importance of buy-sell agreements for business owners | A buy-sell agreement is a written contract between two or more owners of a business, or among owners of the business and the entity. It sets out rules and expectations about what will happen in the event of the death, disability, divorce, insolvency, employment termination, or retirement of any owner (a "triggering event").

To read the full white paper, written by Business Owner Advisory Strategist, Eric J. Smith, click here.
Why every business owner needs a contingency plan | Having a contingency plan for your business can help address emergency situations if something unexpected occurs. A contingency plan should address both the continuation of the operations of the business and the ownership and control of the business.

To read the full white paper, written by Business Owner Advisory Strategist, Bob Robes, click here.
How to groom your business for sale | During the sale of a business, there are several common issues sellers may face during the due diligence process. By addressing key items in advance, you can resolve many issues before a potential buyer raises them. If you are considering selling your business, properly preparing it for sale can help streamline the process by eliminating some of the unnecessary delays and expenses.

To read the full white paper, written by Lead Wealth Planning Strategist, Steve McConley, click here.
Family business transition: Seven things you need to know | Transitioning a family business from one generation to the next is no small task. Research has shown that only about 33% of family transactions are deemed "successful" as defined by the business continuing to operate in the next generation. What can you do to be a part of the 33% that succeed, not only in business but as a family? We outline seven considerations that are important to address when beginning succession planning conversations.

To read the full white paper, written by Business Owner Advisory Strategist, Jeremy Miller and Lead Family Dynamics Specialist, Gary S. Shunk, click here.
Which business transition option is right for you? | At some point, nearly every business owner faces a business transition. Because the business often represents the single largest asset on many business owners' personal balance sheets, its value can represent a lifetime of focus, energy, and work. Given this personal investment, the decision to transition a business can be difficult. Clearly articulated goals, both quantitative and qualitative, along with an understanding of the transition options can help lead to a successful outcome not just for the owner but for all the key stakeholders.

To read the full white paper, written by Business Owner Advisory Strategist, Tim Rahr, click here.
How to build a strong management team | If you were to reduce your participation in your company by 50%, could your management team succesfully run the business? What if you were unable to run your business indefinitely? These questions are key in evaluating the effectiveness of your management team as operators of the company. Why is this important? Business owners rely on key managers to enact the company's mission successfully. This can involve including managers in setting strategy, executing the strategy through the division of labor, and coordinating to accomplish key tasks.

To read the full white paper, written by Business Owner Advisory Specialist, Mahesh Rao, click here.
8 best practices to prepare for a business transition | At some point, almost every business owner will face a business transition. While every business is unique and different types of transitions emphasize certain considerations, addressing the eight key items below can aid you in executing a successful business transition.

To read the full white paper, written by Business Owner Advisory Specialist, Jeremy Miller, click here.
How to avoid five common regrets after selling your business | For most business owners, selling your business can be the biggest financial event of your life, and your financial security - and personal happiness - may depend on getting it right. Ideally, selling or transitioning your business will result in financial reward, security, and a sense of achievement. Unfortunately, more than 75% of business owners who sell their business experience profound regret within a year after the sale, according to a report by the Exit Planning Institute. Why do so many owners have regrets? More importantly, what did the successful ones to do create a good exit?

To read the full white paper, written by Business Owner Advisory Specialist, Eric Smith, click here.
Managing real estate capital gains with like-kind exchanges (Section 1031) | In many cases, if you are planning to sell real estate and purchase new real estate, the tax gain can be deferred by following certain procedures in the Internal Revenue Code (IRC). An investor can exchange one real estate investment for another (or several) and can postpone paying taxes on the unrealized gain in the relinquished property if the proceeds are reinvested in 'like-kind' property. This type of like-kind exchange, or 1031 exchange named after the IRC Section allows real estate investors to reinvest the proceeds from a sale on a pre-tax basis.

To read the full white paper, written by Senior Wealth Planner, Stuart Alan Green and Real Estate Advisory Specialist, Scott Bennett, click here.


Selling your business: Investment banker vs. business broker 
| Having the right team can make all the difference when selling your company. While most business owners understand the role of their attorney and Certified Public Accountant (CPA), they are typically less certain about the role of the person who orchestrates the deal. Specifically, "should I hire an investment banker or a business broker...or neither?"

To read the full white paper, written by Senior Business Transition Strategist, Steve McConley, click here.
Owner or Operator: distinct differences that matter | As the founder of a business, you started the enterprise wearing two hats: one labeled owner and the other labeled operator. Initially, this made sense: You invested your savings to start the enterprise, bought the equipment needed, and even secured bank loans to fund your working capital needs. You also assumed responsibility for sales, marketing, and managing the finances. Hence, hat #2 - you were the chief operating officer. As the business grew, continuting to wear both hats seemed reasonable and provided a sense of control - you could make the decisions about growth, leverage, investment, and profitability. You had absolute authority while wearing both hats, pulling the investment lever simultaneously with the operating lever. However, as companies grow and become more complex, simultaneously wearing these hats becomes more challenging. Typically, the challenge arises because the owner objectives and operator objectives no longer perfectly align.

To read the full white paper written by National Director Business Transition Planning, Tracey Gillespie, click here.

VRM Intel Articles

Please check out articles written by Bill Whichard and John Woolard, Private Wealth Financial Advisors, for publication in VRM Intel magazine.

VRM Intel Article Archive

Connecting Your Business and Your Personal Goals with a Plan | Most successful business owners have a plan for their business and quite often they have a mission statement. Mission statements usually define a business' core values, its purpose and vision for how employees and customers should be treated. In many cases, this statement is a guide for employees and spells out expectations as to how they should perform their duties as well. Future goals are often expressed so that employees and customers know how the business hopes to grow and develop over time. The mission statement and the business plan help drive the direction of the business moving forward.

Click here to read why you should have a plan that connects your business and personal goals.
Incorporating the Exit Strategy into the Vacation Rental Management Business Plan | Every business owner understands the importance of having a well-designed business plan in place. A solid plan outlines strategies for growth, details how to train and motivate staff, and maintains flexibillity based on trends in the industry. The vacation rental management (VRM) industry has seen lots of recent change, and company owners are aware of the need to adapt. Having a business plan in place helps the management team know what is expected, even in the midst of these industry changes, and setting goals for the business motivates everyone to make strategic adjustments to stay on track. As the old saying goes: "If you don't know where you are going, any road will get you there." You just might not like where you end up.

Click here to see key reasons business owners should have a customized exit strategy.

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