Is your business built for success? Is it built to maximize your personal happiness? Like many business owners, your business isn’t just about making money. You’re also passionate about taking care of yourself and your family, employees, and community. It’s a cornerstone of your business’ success and a key driver in your decision making. But until now, this facet of business has been often overlooked. That is, until now.
The Bottom Line of Happiness: Financial Strategies and Exit Planning for the Big-Hearted Business Owner™ is designed to help mission-driven business owners at every stage of their business’s life cycle create the foundations for success and fulfillment. Author Matthew Pardieck knows a thing or two about navigating corporate success while maintaining a happy and fulfilling life. A former aeronautical engineer and pilot, Pardieck has worked in wealth management for over 25 years helping business owners find success and serenity.
In this revolutionary guide, Pardieck shares ideas on:
shaping your business around your true north;
keeping you and your business on course while you take care of yourself and those important to you;
financial and tax strategies to help you and your causes as you build and grow a business;
choosing an exit strategy that fits your financial and life goals;
living a fulfilling life with a big heart before and after your business exit.
As a Big-Hearted Business Owner™, you have the ability to create new wealth and improve your community. The Bottom Line of Happiness will teach you to effectively navigate the tax, planning, and financial landscape to your advantage, to benefit those who are most important to you. Pardieck's tried-and-true techniques have helped owners fulfill their corporate and personal goals as well as potentially saving them millions in taxes. If you are ready to thrive—not just survive—as a business owner, and give your most philanthropic goals the priority they deserve, this is where to start.
Pilot, rocket scientist, financial advisor, musician, black belt, dad, husband, philanthropist... I like to live life to its fullest and give back when able. Writing first book based on 20+ year history helping business owners transition and take care of the people/causes important to them. Book will be "Bottom Line of Happiness".
This option can be a spectacular exit for many, but perils abound for the unwary. Anne spent months personally researching private equity (PE) firms that might be interested in buying her profitable and growing business, figuring that was the best alternative since the local press had covered several local exits with compelling values. As she conducted the search by herself, she focused primarily on expected high valuations, local proximity, and experience in her industry. She chose one and began discussions focused primarily on negotiating a price—by herself. Without needing to compete through an auction process (competitive bidding for a company), the ultimate agreement had a high valuation, but a considerable portion of the sale was tied up in the future sale of “Newco” (a common term for a new entity created to purchase a business). The intent was for Newco to acquire, grow, and enjoy a second exit with an even higher valuation. The deal was consummated, and Anne received a very nice payout. Within a year, the firm let many of her key employees go. After two years, the strategic direction changed in a way that Anne found disagreeable. In the third year, Anne received a six-figure tax bill on “phantom income” as the PE firm reported significant earnings without making a distribution to pay the tax. None of the actions by the new ownership had been negotiated. Now, she’s still waiting for the promised sale of her remaining equity position in the company, which may never happen. The exit was neither consistent with her true north, nor did it have the benefit of a team to vet the agreement.
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