The recent focus on employee retention, from what we’ve seen at Equinox, arises from two trends. First, it’s really tough to find the right people in the current market. Once you find them, it’s essential that you keep them. Second, business owners are seeking people who can take over when they retire and key employees... View Article
On December 7, 2016, the Portland City Council approved a tax on certain companies that pay their CEOs 100 times or more what their average employee makes. This surtax is the first in the nation of its kind and its purpose, per the ordinance, is to address income equality. Note that the surtax, added to... View Article
Yes, there are “favorite” things to do for end of year planning… here’s what’s on our list: Financial goals. First and foremost, your planning should evaluate your financial performance this year. If you had financial goals for your business, did you achieve them? If not, why not? Many business owners have sales goals that are... View Article
In last month’s blog and FOCUS event, we discussed the strategy and foundation needed to expand your business in not only a “smart” way, but in a way that leverages what you do best. Knowing your “secret sauce” and building a plan to bring on the people and resources to build upon it is core... View Article
Most business owners I talk with these days are feeling pretty good about the opportunities for their businesses and the likelihood of revenue growth this year. Although this shift is positive for businesses, it’s a little different than business expansion- it’s really just a reflection of what seems to be an economic expansion. Business expansion... View Article
Succession planning has been a hot topic in business planning conversations for years but the focus is often on longer term retirement planning answering questions like “Who will be the next CEO?” and “How will ownership transfer?” Most businesses, though, do not spend a lot of time planning for the “emergency” succession. “What is ‘emergency’... View Article
We often have clients who are in business with others – commonly called “partnerships” even though they are more likely “members” or “shareholders” than partners — where all the partners are working in the business. The elephant in the room for many of these partnerships is whether the relationship will work and what happens if... View Article
After a few years of growing and moving my business forward, I remember a point where I felt I didn’t have the knowledge to make smart growth decisions for my business on my own. As a sole owner, I didn’t have anyone who could help me understand what I could or should do differently to... View Article
Over the years, I’ve seen many families find joy and success in working together in a family business – and of course, some that have struggled to maintain balance between these two intertwined parts of their lives. So what’s the secret to success? First and foremost, I would say a recognition of the fact that... View Article