Ever heard the phrase, 'Accounting is the language of business'? Well, that nugget of wisdom originates from none other than business magnate, Warren Buffett. Consider this: accounting is like a puzzle within the business realm. But Buffett's thoughts in 2014 went beyond this simple comparison. He drew a parallel between accounting and learning a foreign language – and he was serious. Just as deciphering a foreign language as a native English speaker, diving into accounting terms can be like wading through a dictionary with no end in mind. Fixed assets, retained earnings, accounts receivable – they might as well be coded messages! But don't worry; you don't need to become an accounting expert overnight to do business. One key takeaway…
Why Trying to Do It All Could Be Holding You Back Many businesses opt to manage their operations in-house, motivated by the belief that it offers greater control and cost transparency. However, handling everything internally can drain valuable time, energy, and resources. Retaining every function does not always lead to the best performance, especially in roles with low engagement or high staff turnover. Trying to manage everything internally can waste talent and limit your company’s ability to focus on what truly drives innovation. At its core, outsourcing is a decision about resource allocation: whether to develop and manage a function internally or partner with an external provider who can deliver it more effectively. Though this dilemma is not new for…
Rooted Beginnings: It Started With a Feeling The truth about starting your own business is there is no "perfect time" nor a "secret formula" to unlock. Most meaningful businesses often begin with something more intuitive: an intrinsic feeling, a deep-seated knowing, or a sense of misalignment that signals a need for change. For many, it is simply having the courage to lean into that instinct and build from where they are. This article delves into the journey of one such individual who listened to her intuition, illustrating that the most powerful moment in any entrepreneurial journey is daring to take the first step. Trading a conventional career path for an entrepreneurial venture, Ash Mendelsohn established a business embedded with creativity,…
Mergers and acquisitions (M&A) are complex endeavors that require meticulous planning, strategic foresight, and, above all, comprehensive data. In the contemporary business landscape, where data drives decisions, understanding what information is crucial to the M&A process can significantly influence the outcome. Therefore, the first step in any successful M&A transaction is Data. This article will explore the critical aspects of data in M&A, focusing on identifying the right data, understanding customer and market insights, the role of operational metrics, and the broader scope of data beyond financials. Identifying the Right Data The first step in any successful M&A transaction is identifying and preparing the right data. Sellers often wonder what data buyers need to evaluate the deal and decide whether…
The Business Pre‑Nup vs. The Business Divorce In our previous article, we discussed the importance of a shareholders’ agreement as the “business pre-nup” i.e., setting ground rules for managing a business together as co-owners. But what happens when someone decides to leave the partnership? Every business partnership has two chapters: coming together and parting ways. The Sale & Purchase Agreement (SPA) governs the second. If the shareholders' agreement is the "pre-nup", then the SPA is the divorce agreement drafted before the wedding. One party exits and the SPA decides who keeps what, how the price is paid, and who bears responsibility if any surprises come up later. For example, Party A and Party B have been business partners for years.…
