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Transforming into a data-driven business

Transforming into a data-driven business

Businesses that are striving to be innovative often embrace popular terminology. One concept that’s been receiving a great deal of attention is “data-driven,” as in a business that roots its operations and decision-making in solid data rather than subjectivity. There...

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Managing the cost of disruption

Managing the cost of disruption

From breakthrough technology solutions, to a tighter labor market, to all sorts of surprising competition, our industry is experiencing a period of unprecedented change. Many of these changes have such a dramatic impact on familiar business practices and environments...

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Seven reasons franchise restaurants can fail

Seven reasons franchise restaurants can fail

It can be a mystery: two very similar franchise operations are doing business in the same market. One appears to get so much business that it’s always a challenge to keep up, while the other’s parking lot is consistently empty. Both are part of national chains, so...

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Capitalizing your CPA practice’s succession plan

Capitalizing your CPA practice’s succession plan

If you’ve developed a plan to address the future viability and ownership of your CPA practice, congratulations. You’re ahead of most practices. But having a plan to govern who may become partners or how they’ll be selected is only part of what you need to consider....

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Can you ever get ahead of technology?

Can you ever get ahead of technology?

Colin Randall* is frustrated. His firm’s clearing partner just updated its software suite, and Colin discovered that the earlier version of Windows on three of the five computers in the firm’s office are incompatible. Terry, his friend who runs the local computer...

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How to bring your franchise restaurant into a new market

How to bring your franchise restaurant into a new market

Running a successful multi-unit franchise business doesn’t give you a lot of free time, but you’re disciplined enough to include a couple solid vacations every year. While you and your family enjoy the welcome break from day-to-day business, you can’t resist looking...

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Planning Success

Planning Success

You’ve heard it a thousand times….if you fail to plan, you plan to fail. While cliché, it’s proven and still many businesses and even more individuals fail to plan. Planning is not only about defining a destination but planning in business equals results. Results...

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Strategic ways to reduce employee turnover

Strategic ways to reduce employee turnover

Early each year, you get a concrete reminder of one of the biggest challenges associated with operating a franchise business. It comes when your accountant lets you know how many W-2 forms your franchise mailed out. Employee turnover is a constant in this business,...

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Steep rise in Mergers & Acquisitions in 2018

Steep rise in Mergers & Acquisitions in 2018

According to the new U.S. Financial Services Deals Insights Q2 2018 report from PwC - the value of mergers and acquisitions in the insurance industry rose steeply for the first half of 2018. They reported 247 announced deals in the insurance sector with a total...

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Are you creating a legacy or capital?

Are you creating a legacy or capital?

As a longtime partner in your CPA practice, you’re proud of your professional expertise and what you’ve been able to accomplish. Whether you took the step of becoming a partner to have a bigger say in how your practice serves its clients, to gain a greater reward for...

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Are you creating a legacy or capital?

Are you creating a legacy or capital?

Are you creating a legacy or capital? As a longtime partner in your RIA firm, you’re proud of your professional expertise and what you’ve been able to accomplish. Whether you took the step of becoming a partner to have a bigger say in how your clients are served, to...

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A simple map for partner buy-ins

A simple map for partner buy-ins

A simple map for partner buy-ins Typically, CPA firms devote a great deal of thought to partner retirements. That’s no surprise, given that most CPAs work hard throughout their careers to ensure they are able to make the most of their post-retirement years. But it’s...

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Is your agency prepared for digital disruption?

Is your agency prepared for digital disruption?

Is your agency prepared for digital disruption? In a rapidly changing world, the basic concept of insurance has remained remarkably stable. Agents are the link between customers and carriers, who create risk pools and price coverage to both indemnify and produce a...

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Are you ready for disruption and correction?

Are you ready for disruption and correction?

If you’ve been an RIA for any length of time, you know your clients well. The day after the Dow takes a 500-point dive, your phone is ringing off the hook as you walk into the office. She’s terrified. Does this mean she’s going to lose her life savings? Should he take...

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5 steps to take before you grow

5 steps to take before you grow

If you’ve been able to make your franchise business a successful, profitable operation, adding another location may provide the perfect opportunity to double your success -- and your profits. That’s why the most successful franchisees in most operations are those who...

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Mandatory buyouts: when it’s time for a partner to go

Mandatory buyouts: when it’s time for a partner to go

We all like to think that we’ll know when it’s time for us to walk away from work for good. In fact, many of us are so eager for the things we’ll be able to do when we retire that we look forward to it. Some obligatory lunches with longtime colleagues, transition...

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Using debt as a tool for growth

Using debt as a tool for growth

“Neither a borrower nor a lender be,” cautioned Polonius in “Hamlet.” William Shakespeare’s advice has gone on to form an attitude about debt that has survived countless generations. Most insurance professionals are financially conservative by nature, and their...

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Should you finance buyouts with capital or outside financing?

Should you finance buyouts with capital or outside financing?

Traditionally, when a partner of a CPA practice is ready to walk away for retirement (or is being eased out the door), the other partners have essentially shared the financial burden by dipping into the practice’s capital and at least temporarily reducing the value of...

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How is your communications strategy?

How is your communications strategy?

In the ever-more-competitive financial services market, most RIAs are constantly looking for whatever will give them an edge over their competitors and keep clients from moving on. Some will share new insights others will add new lines of financial products, while...

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