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The Importance Of Succession Planning To Any Business

To run a business is all about planning. It is fine to live in the moment, yet it is also necessary for you to consider both the past and possible future events. Succession planning can be surely considered a future event which all businesses have to consider or face disaster.

 

What is succession planning? Well, it is simply a plan put in place that recognizes the business should outlast the key people running it. The classic example used by financial planners is the business that is family owned. The parents often want to pass it down to a child or children. Doing so makes sense logically, but there are a host of tax issues involved. Planning for them is critical.

 

What happens if you don’t plan for the succession of the business? Well, the Miami Dolphins are a good example. They and the beautiful stadium they play in were owned by a gentleman named Joe Robbie. He had a large family and was very successful. Despite having lived a long life, he never planned for his passing on. When he passed away, estate and income taxes kicked in along with the acceleration of certain contracts that he had personally guaranteed. His estate did not have the cash on hand to deal with the taxes and debts. As a result, it was forced to sell the team and stadium among other assets for a song. The massive figures paid in taxes need not have been paid if succession planning had been done.

 

The Robbie situation is well known because of the assets involved. One just doesn’t see an NFL team sold off to pay taxes every day. The underlying problem, however, is a common one that occurs in the business world practically every day.

Otherwise profitable businesses are left in shambles or sold off for pennies on the dollar because no succession plan was put in place.

 

If you are the owner or key member of a business, succession planning is something that must be part of your administrative checklist. To forgo it is to invite doom upon the business.

 

Thomas Ajava writes about succession planning for UFCAmerica.com where you can obtain professional advice on small business succession planning.

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How To Get The Right Business Card Templates Fast And Free of Charge

Have you finally decided to print impressive business cards for your enterprise? Good for you. The problem however with getting a professional printer to produce your business cards is that it can be a very pricey activity. But the good news is, it is possible now to produce your business cards on your own without having to hire an expensive graphic artist. One proof of this is obtaining a lot of business card templates when you go online, sans any cost.

In essence, the design you create for your business cards and the manner you present your personal details say just how much you’re going to impress your potential clients. In this modern age, you may now embark on a lucrative endeavor over the Net without having to invest any amount of money. For instance, look at how bloggers find ways to turn their writing expertise into a money-spinning activity. In this highly competitive market where almost all are beginning to realize the benefits of entrepreneurship, producing remarkable business cards with ample information is a MUST.

If you choose to get a professional artist or printing company to craft your business cards for you, you will be able to specify your needs to them, such as your design concept, style and format you desire. In an instant, they can produce customized cards for your business. But check out its downside. If you have just opened business and you’re only starting to learn the ropes, this venture can definitely cause a big strain on your financial plan. I’m pretty sure you wouldn’t take the risk.

Therefore, here is one smart solution to your dilemma of creating great business cards: connect to the Internet, look for free business card templates and then start downloading them. You may have some basic know-how of graphics software but downloading pre-set business card templates and simply customizing them will be far quicker and easier than designing your cards out of nothing.

As to employing an editing software, you can be bold enough to do so. But don’t be alarmed if you feel you’re not doing it right. You can always run to the Net and get a good business card template. You could use them even without customizing them if your creative mind doesn’t seem to be working. Probably, the only obvious disadvantage of downloading and using the usual business card templates is that a lot of other people may have come to use it as well. In short, this does not guarantee you of producing unique and distinctive business cards.

When you are ready to choose your template, be sure to know first what kind of business card best fits the nature and purpose of your business. As you will discover, there are numerous websites that can grant you remarkable and professional-looking business card templates without any charge. These templates even contain a color scheme that you can experiment with. Do not also forget the main attributes of your target audience. If, for instance, your business is about fashion for the young people, you might want to use a colorful and lively design in your business cards. On the other hand, if your business is offering formal services, you ought to eliminate wacky elements in your material.

Remember, your business cards are generally what your business is so always be sure to portray the best image. Your business cards are a very potent marketing channel. It is thus a must to give it an unforgettable and compelling design.
So save some funds now and hunt for great business card templates online!

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