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  1. Facing Life, Living Transitions

    Posted by The Company Coach
    / January 17, 2012 / Leave a comment
    I had the privilege recently, of being interviewed by Marni Jameson, a syndicated columnist and speaker, and an author of “House of Havoc” and “The House Always Wins” (Da Capo Press).

    In seeing that one of our focus points of The Company Coach is to help business owners navigate transitional bridges such as company expansion or moving on to what’s next in life, she had some questions regarding my general views of life’s transitions.

    She lends her own flair and drama to this topic, and wrote an insightful article that I wanted to share with you.

    Her article found here, Facing Life, Living Transitions, gives Marni’s side of Rethinking Priorities. I’d love to know what you think.

    I’m Ready to Talk


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    Read more...
  2. Money Isn’t Everything?

    Posted by The Company Coach
    / January 6, 2012 / Leave a comment
    The BadgerAs is tradition whenever I am driving my 7 and 8 year old daughters to school, they request a story from the best story teller they know – their daddy. So the other day, in my best whimsical voice, I begin. “Once upon a time, there was a family of ducks who were enjoying their pond. Suddenly, one of the baby ducks notices something in the water, and it’s a snake!

    “Hi, I’m Henry the snake, and I’d like to be your friend.” The little duck didn’t see a problem with this, but oh mama duck sure did. She quickly swooped down, grabbed the snake with her webbed feet, and flew far away and dropped the snake off in the middle of a meadow.

    Well, now Henry was scared because he’s never been away from home before. While slithering along a path trying to find his pond, he hears something rushing towards him through the tall grass. His eyes get real big and his heart starts pounding faster and faster. Then, a badger pops out onto the path and starts coming towards him! Poor little Henry doesn’t know what to do and…”

    “Daddy, wait!” interrupts the precocious 7-year-old. “Was it a Honey Badger or an American Badger?”

    Taking me completely off guard, I can’t help but laugh. Knowing she is inquiring of this because of her love and study of animals and not because of a YouTube sensation is further confirmation to me that I have succeeded in passing my inherent love of nature on to my daughter. This moment of connection between us is a heartwarming memory I will always cherish.

    I’m Ready to Talk

    What may be surprising to you is that I believe this new economic world we are experiencing here in America can be credited with this bonding moment I had with my daughter, and here’s why. It has brought me back home, to my family, to what matters most. In times past, I would most likely be focused on news radio and the latest stock report while my girls sat quietly in the back.

    Once I realized the monumental command I felt to pass personal elements of my life down to my children, I started behaving differently. I became more purposeful with my time to ensure my family knew without a doubt I did not take them for granted. I also began placing a higher value on creating memorable experiences with family, friends and loved ones, instead of thinking an expensive gift would suffice. The return on this investment of time is of far greater value to me than a portfolio.

    I believe we were all built with a driving force to matter, to leave something behind that acts as our voice when we are no longer here, able to speak for ourselves. This has become so significant in my life, that I now incorporate an additional level of service to my clients by helping them identify and define the tangible (heirlooms, an estate, trusts, a family business, historical family records and cultural background, etc.) and intangible (family rules, affirmations, blessings, ideals, spiritual beliefs, etc.) elements of value that matter most to them.

    Only in first identifying that which is most important to us, can we be sure to pass them on to those we love.

    The answer I gave my daughter, by the way, was that it was an American Badger.

    Even though you may not have a bonding moment with family members over a Badger story, there will be plenty you can connect on if you take the time. So the question remains: Have you taken the time to define what matters most to you? If not, what does the right time look like for you to decide what matters most? After all, you’ve got all the time in the world.

    I’m Ready to Talk


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    Read more...
  3. Do your Leadership Qualities include these traits?

    Posted by The Company Coach
    / December 28, 2011 / Leave a comment
    Leadership Qualities of a Business Owner In leadership, I have come to embrace this fact: there is nothing new under the sun. There is no newly developed leadership style to enhance your success despite what the infomercials say. There are no new magic words to entice people to come under your authority and follow you as a leader. There are no new epiphanies on how to manage people, and there are no new personality quirks appearing in your staff that leaders have not dealt with since the beginning of time.

    There is only new packaging.

    In my years of business leadership and coaching business owners through the various transitions they face, I have developed a list of ideal commonalities found in leaders who seem to have the best staying power:

    I’m Ready to Talk

    • If you are doing something worthy, with vision and passion that fuels your ambition and drive towards success, people will follow.


    • If you treat others with kindness, respect, truth and dignity, and own up to mis-steps and mistakes – even when you falter as a leader, your team will still be there and rally to help you get things back on track.


    • When difficult times come, a leader will be the first to go into the storm, and they will lead their team through to the other side, out of the storm.


    • There is no staying power in a leader without genuine gratitude. People will stay if you treat them the way you want to be treated. Say “Please” and “Thank You” with true appreciation and you will develop a loyal following.

    As we enter this next year, regardless of where we are in business or in life, there is always room for improvement in how we manage, lead and relate to others. My faith, family and friends are high on my list of priorities this year, as I seek to deepen not only my faith, but also the relationship with my family and closest friends. Having such a support structure in place for leaders is crucial to success and significance.

    Best wishes for an incredible 2012!

    Guy Hatcher
    and The Company Coach Team

    I’m Ready to Talk


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    Read more...
  4. With the recent changes to pension laws, are you sure you still have the best benefit plan for an owner?

    Posted by The Company Coach
    / December 9, 2011 / Leave a comment

    Defined Benefit Plans - Tax Efficient
    As business owners, we all keep our ear to the ground for ways in which we can improve our tax efficiencies – which directly affects our cash flow. So we wanted to be sure you were aware of some recent changes to the pension laws. Congress has made designing and funding a Defined Benefit (or Pension) Plan easier and more beneficial than we can recall in recent history.

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    Some highlights that may benefit you:

    • Depending on retirement age, you could accumulate in excess of $2,000,000.

    • Contributions to the plan are made with tax deductible dollars.

    • Pension assets are generally protected from bankruptcy and creditors.

    • If there are changes within the company, there is flexibility to amend the plan.
    While these plans must cover full-time employees who meet age and service requirements, there are a number of design options available to carve out certain employees for inclusion in the plan.

    In many cases, with the proper planning, a Defined Benefit Plan can work well in conjunction with existing 401(k)s or Profit-Sharing Plans. Did you know that 2011’s plan contribution limit can exceed $200,000?

    Our goal is to provide you with knowledge you can utilize today and benefit from now, and in the future. Give us a call, we would be glad to run the numbers for you. Let’s see how a Defined Benefit Plan can work for you.

    Guy Hatcher and
    The Company Coach Team
    I’m Ready to Talk


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    Read more...
  5. If you have or need a Family Limited Partnership, have you included non-tax business reasons for formation?

    Posted by The Company Coach
    / December 1, 2011 / Leave a comment
    Family Limited Partnership - non-tax reasons must be included Did you know that if you do not have some non-tax reasons for forming a Family Limited Partnership (FLP), one of the main tax benefits, which is the Estate and Gift Tax Valuation Benefit, may not be allowed?

    Consequently, there must be some non-tax business reasons for forming an FLP, some of which are listed below:

    1. An FLP allows parents to have some indirect control over cash flow that goes to their children. When a parent “gifts” a limited partnership interest to a child, the child does not receive something that may be “spent,” as would be the case when a cash gift is given. Therefore, the parents maintain some leverage over their children’s spending.

    2. By holding family assets in an FLP, such as non-homestead real property, a family is able to transfer that “undivided” interest while also maintaining consolidation of the property as a unit. This eliminates the fear of the asset itself being subject to “fragmentation” or “partition” in the future. This also allows the assets to be managed in a more comprehensive and prudent manner.

    3. I’m Ready to Talk

    4. The FLP allows simplified annual gift giving by allowing “percentages” of partnership interests in the FLP to be transferred, thus, maintaining the family assets as a whole.

    5. The FLP helps keep the assets in the family because it provides Buy-Sell restrictions on transfers through the partnership. Typically, these Buy-Sell restrictions provide that if a child wishes to relinquish his/her FLP interest, the remaining family members may buy that interest themselves at a discounted fair market value. This applies to both voluntary and involuntary transfers.

      In addition, if a child (who is a limited partner) is going through a divorce, the FLP could function as protection in keeping any interest from being awarded to the non-partner spouse. Even if the non-family member spouse obtained interest previous to the divorce, they may be compelled to “sell” their interest back to other family members at a discount, if adequate restrictions on transferability are put in place.

    6. Limited partnerships are considered to be one of the best asset protection entities in which to do business. The FLP can provide limited liability to the limited partners from the FLP’s creditors and some protection from the limited partner’s judgment creditors.

    7. The “Business-Judgment Rule” applies to the FLP partners, as opposed to a higher fiduciary standard to the Trustees of a Trust, when investment decisions are made on behalf of family members and their assets.

    8. The FLP can be used to reduce or eliminate probate and guardianship proceedings in foreign jurisdictions, and if used with a revocable trust, can eliminate those same proceedings in Texas.
    If you would like more information about how FLPs can benefit you, your family and your business, please feel free to give us a call. We can go over this and more during your complimentary consultation.

    I’m Ready to Talk


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    Read more...
  6. As a Small Business Owner, can you predict your next unforeseen event?

    Posted by The Company Coach
    / November 17, 2011 / Leave a comment
    Small Business Owner - An Unforseen EventAs business owners, we strategize and put forth a great effort to accurately forecast the futures of our companies. We often think about protecting ourselves against worst-case-scenarios like disability and death, but have you also considered protecting your income?

    We protect that which we love. Much like our family, our business has become a part of our lives, and we want to see our company protected and taken care of properly should we no longer be able to function in that role. Is there a way to do that in a tax efficient manner?

    I’m Ready to Talk

    We believe you can accomplish both. Protecting your income as well as the stability of your company can be accomplished by incorporating a Wage Continuation and Stay Bonus Plan. These two strategies are also a tax efficient way for you to be recognized and compensated for your value as a business owner.

    To learn more about this Small Business Strategy, click on the link above, or give us a call and we can discuss the benefits further during your complimentary consultation.

    Bridging you to tax savings and more,
    The Company Coach Team


    Links of Interest:

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    I’m Ready to Talk
    Read more...
  7. As a Small Business Owner, do you feel like things have gotten off track?

    Posted by The Company Coach
    / November 11, 2011 / Leave a comment
    Strategic Planning for Small Business Owner - Dallas / Fort WorthBeginning from the day I was born, my mother poured her vast experience and wisdom into my life. Today, as I look back over all the times she instructed me, chided me, encouraged me, and showed me her love, I realize just how important her influence was in creating the person I am today.

    In particular, I remember four nuggets of advice she gave me as a boy to help me survive adolescence. This was not only timely advice back then, but also applies today.

    #1. Make Friends. Although this sounds simple enough, it is very difficult to do. Deep and meaningful relationships can’t be built and sustained with only 140 characters at a time. Also important to consider, is when you are choosing your ideal clients, make sure the criteria includes those who are like-minded and share your same morals and convictions. It will be much easier to develop client relationships with people you actually like and with whom you actually share commonalities.

    Not only that, but in order to get more out of life, we also need to be giving more – of our time. My mother’s investment of time into my life showed me that in order to lead a meaningful life, I must give meaning to others – friends and clients alike; and that is done through the investment of time.
    I’m Ready to Talk

    #2. Repect your Elders. If more of us took the time to ask questions and listen to mentors, those who are older and wiser, we could all avoid a lot of life’s common mistakes. I know in my life, I have a personal coach and mentors who make a big difference. Remembering and adhering to this piece of advice has saved me time, money and pain on many occasions.

    #3. Do your best. This is self explanatory. Yet fewer and fewer people are choosing to do their best. People seem to work only as hard as their job or business requires and going that extra mile is no longer a popular destination. Good enough shouldn’t be good enough. I believe this includes our work ethic, our morals, our social courtesy, common decency and the commitments we make to our family. As business owners, we need to be our best, not only professionally, but relationally – we need to engage with our staff. I recently came across this statistic that will hopefully spur more people to understand just how important engagement is. We can all do better at doing our best.

    Consultants at Aon Hewitt, a unit of Aon Corp., Lincolnshire, Ill. (NYSE:AON) report:
    • Organizations with high levels of engagement continue to outperform the total stock market index and posted total shareholder returns 22% higher than average in 2010.
    • On the other hand, companies with low engagement had a total shareholder return that was 28% lower than the average.
    #4. Know who you are. We each have a different mirror in which we view ourselves. Sadly, many of our mirrors have gotten distorted over the years, and we do not see ourselves accurately. This can happen to us in our personal lives as well as in our business. Most importantly, we need to know who we are within our industry, and constantly learn and grow through education and experience. There is always room for improvement regarding the image of our brand. This is why we need others in our lives, personally and professionally, so they can reflect the true image of who we are. Our identity is what enables us to lay a foundation that properly supports the future in all aspects of our lives.

    These four points could actually be used as a litmus test for life. As business owners, we can get so focused on the business side of life, that we forget the importance of living our life to the fullest. It is important to remember this: How we live our life away from business is directly related to how we run our business.

    If you feel like things have gotten off track, run through these nuggets of advice. Are you making proper time to develop friendships? Do you have mentors in your life? Are you doing your best? Are you certain that your perception of yourself is accurate? If you can’t answer a resounding yes to one or more of these questions, you may have identified the culprit that has taken you off course. Chances are, if you make efforts to realign yourself with these four important principles of life, you’ll find things running smooth once again.

    Your bridge to a better future,
    Guy Hatcher
    I’m Ready to Talk

    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    Read more...
  8. Is your Disaster Recovery Plan a disaster?

    Posted by The Company Coach
    / November 1, 2011 / Leave a comment
    Disaster Recovery Plan for DFW Business Owners A recent article in Forbes Magazine states “more than 15 percent of data centers have no plan for business continuity or disaster recovery; 50 percent have no plan to replace damaged equipment after a disaster; and two-thirds of all data centers have no plan or procedures to deal with cybercrime.”

    I’m Ready to Talk

    If you own a business, you have not only soft and hard-copy data to protect, but also systems, processes, vital instructions, corporate books, customer requests, equipment, furniture and more to think about when it comes to business continuity and the successful day-to-day operations of your business. When disaster strikes, whether it’s a flood, hurricane, tornado, fire, robbery, or the sudden departure of a Key Employee or Partner/Owner – how quickly will your business be up and running again, and to what extent will your business (and cash flow) be interrupted?

    As part of your comprehensive business continuity plan, it is critical to develop a Disaster Recovery Plan before disaster strikes. If you would like help ensuring that your business has a proper plan in place, we can help. Contact us today for your complimentary evaluation of your company’s security and future success. We look forward to hearing from you.

    Planning for the future,
    The Company Coach Team


    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    The Company Coach = The Collaborative Coach

    I’m Ready to Talk
    Read more...
  9. As a business owner, have you identified every tangible and intangible asset that affects your company’s value?

    Posted by The Company Coach
    / October 14, 2011 / Leave a comment
    Business Owner Identify Company AssetsAs we continue to exponentially expand on technological advances that are taking place in our lifetime, the value of a company and how to determine that value is also changing. Since the industrial age, the most common denominator when determining the value of a business, has been tangible (or “brick and mortar”) assets.

    However, there is a greater importance now being put on intangible or invisible assets, such as intellectual property, trademarks, processes, patents, company reputation, research and development efforts, and the like – which most often, do not appear on financial statements. In accounting terms, this is sometimes referred to as goodwill; the “prudent value” above the sum of the fair market value of the company’s net (tangible) assets.

    This poses a problem when determining the current value of a company, which is necessary for yearly tax preparation, and crucial when entering into the M&A market or looking to sell/transfer your business to a successor.

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    Traditionally, when valuing a company’s assets, the accounting value was based on historical balance sheets that included the cost of inventory and supplies, equipment, and real property. This is in contrast to the actual market value that includes intangible assets, the value of which can vary greatly, depending on the economy and market sentiment at the time.

    Since a buyer/investor is essentially looking to purchase a revenue stream (cash flow), properly identifying a company’s assets, both tangible and intangible, is the first step in determining company value.

    To take that a step further, if a company is also able to identify its strategic value (another intangible asset), the company’s multiple will increase even more. For instance, let’s say there is a tire company for sale with stores scattered all across the continental United States. There are two buyers interested in purchasing this tire chain. One buyer is simply looking for a revenue stream. However, the other buyer already owns an auto-parts chain, with the hopes of cross selling his parts in the tire stores, and vice versa. The value of the tire store to the parts franchise owner will be significantly higher, than that of the other buyer, who simply wants a good return on his or her investment.

    Despite the nebulous nature of intangible assets, it is important to understand they are still significant to your bottom line. If properly identified, they can be critical to your long-term success and profitability.

    If you would like to learn more about properly identifying all company assets, tangible and intangible, please visit our Properly Identify Company Assets page. Or, we can discuss these assets in further detail during your complimentary consultation. Give us a call. We look forward to working alongside you, to ensure that all your assets are covered.

    Enhancing your success,
    The Company Coach
    I’m Ready to Talk

    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    Read more...
  10. For every small business owner, someone will decide what happens to your greatest asset – your business. Will it be you?

    Posted by The Company Coach
    / October 7, 2011 / Leave a comment
    Small Business Owner - Greatest Asset is the Business Failing to plan for your future now means that someone else will make that plan for you. If that happens, you can guarantee the person who steps in after you, once you are no longer able to run the company, will not be as invested in it, or your family, as you.     

    As detailed beautifully in the movie and book Moneyball, statistics are a much more reliable indicator than a gut feeling, trend, or popularity contest. If you are depending on heirs in which to transfer your business, understand that due to competing interests, leadership and ability, only three out of 10 businesses are successfully passed to the second generation, and only one in 10 to the third. 

    Six more Business Killers® that business owners mistakenly rely on are summed up as:

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    1. “I know what my business is worth.”

      If you have a partner and are relying on your buy/sell agreement, an up-to-date valuation will ensure that your spouse gets the maximum amount possible. A current valuation done by a third-party valuation firm is one of the few things that will stand up in a court of law. A business owner who simply uses a multiple of last year’s earnings is not a figure that can be relied on. If a partner dies 5 years after a valuation has been done, if one has even been done at all, there have been many court battles where the spouse of the deceased challenges the value of the company. This disrupts business, cash flow, company growth, and more.


    2. “I’m too busy running the company.”

      One family was too busy running their very successful company, and didn’t realize their life insurance policies that funded the buy/sell agreement for the partnership had lapsed. When a family member/partner unexpectedly passed away, the company nearly went bankrupt.


    3. “That’ll never happen to me.”

      There are three ways in which business owners leave a company: a sell/transfer, disability or death. So far, the statistics show that 1 out of 1 people experience some form of death – mostly involuntary, and at an unexpected time. As far as the other two probabilities in which an owner leaves the company, they are represented in The New York Times article “Six Companies that didn’t make 2010.” Having a proper plan in place now will ensure that details are appropriately handled before an unexpected event occurs. As we all know nothing is ever guaranteed.


    4. “There’s plenty of time for that.”

      Many business owners are too busy working in their company, instead of working on their company. Taking time out now to design a proper plan can save you months, even years of agony in trying to get a company back on track, which was derailed due to a lack of direction or clarity in focus. There is never a good time to get derailed – a proper plan now can ensure that doesn’t happen.


    5. “My business is my retirement.”

      Sunbelt Business Advisors say that 84% of former business owners were depending on sale proceeds to help fund their retirement. However, only 40% felt their transaction was somewhat successful and only 10% felt they were even close to what they thought their business was actually worth.


    6. “My CPA and Financial Advisors have assured me there will be minimal tax ramifications upon the sale or transfer of my business.”

      Most business owners have advisors working on portions of their business who have a singular biased approach. The attorney is only worried about legal issues, the CPA handles the taxes, and the financial advisor handles your investments and retirement accounts. However, this approach will most likely leave you with contradictory advice on what you should do next. Having a team approach where advisors collaborate respectively on what’s best for you and your long-term goals, will ensure that a plan is developed to pave the way for your legacy and what comes next in life, securing a future for you, your family and the next generation. 

      It is never wise to think you (or your CPA) can beat Uncle Sam – but you can have a better plan.
    If you are lost in the day-to-day minutia of your business and don’t know where to turn next, we can help. No one is saying you need to exit your company or retire now. But if you are not leading your company to that eventual end, you could come to that end unsuccessfully, on someone else’s terms.

    Our goal is make sure that doesn’t happen. The Company Coach will help you realign your daily agenda with the mission of your company, so you can effectively run it with the passion and purpose you had when you established it in the first place. Don’t let your company run off track unknowingly, because you don’t have a current, working plan for the future. Instead, give us a call. Your initial consultation is on us.

    Enhancing your success,
    Guy Hatcher
    Managing Partner
    The Company Coach

    I’m Ready to Talk

    Links of Interest:

    Small Business Strategies

    Life Multiplier Tools

    Plan First

    The Company Coach Story

    Read more...
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