Three terms you must know prior to making an offer to acquire an existing business

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Balance Sheets: Five things you must know

This is the second part of our “Accounting for Small Business Owners” series.  In the first module we covered the two types of accounting methods – cash and accrual.  Next we are going to present the basics of financial statements and then focus on the balance sheet. Much like it’s hard to explain to a [...]

Accounting for Small Business Owners Series (#1 – Accounting Methods)

  This series will address the principles of accounting with which every small business owner must be familiar.  Trust me, we do not want to put you to sleep with accounting . . . you are an entrepreneur not an accountant.  Unless you are an accountant, them I’m just kidding . . . accountants rock! [...]

Response to Frank's comments about procedures

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Business Owners' Nightmares Series (#1 – Making the routine things routine)

            This post is the first in a series of posts called “Business Owners’ Nightmares Series.”  We will be striving to address the topics that we know are keeping business owners or would be business owners up at night.  At a minimum, this series should provide business owners some comfort [...]

Naming Your Business

Naming your business is a personal and important decision to make. Your “name” is an important aspect of the brand of your business and will set the tone of your business’ personality. Here are some things to consider when naming your business which are often overlooked: 1.  Recognize the difference between your “corporate” name and [...]

Is "man to man" dead in the world of business.

My father taught me that a “man” * keeps his word.  A “man” does not use words deceptively to trick someone into thinking one thing but “technically” saying another.  This practice is reserved for the attorneys of the world, the marketing companies that flash 3-point font paragraphs of disclaimers for a millisecond during television commercials [...]

Creating a Statement of Desire

I received some feedback that the post on executing a statement of desire was a bit too lengthy for such an elementary topic.  I appreciate the feedback and have adjusted it accordingly.  Therefore, what follows is a “nuts and bolts” version and you can find the full post in Smith Floyd University . . . [...]

The Bridge between Mediocre and World-Class

Smith Floyd is committed to providing world-class service.  The  gap to bridge between mediocre and world-class is substantial, but not complicated.  The successful architect of this bridge will recognize several fundamental principles: 1. Caring.  As a young and ambitious United States Navy submarine officer, I was once mentored by my Commanding Officer with the following [...]

Introducing Smith Floyd

Introducing . . . Smith Floyd Inc.  Smith Floyd’s goal is to provide a reliable, actionable and comfortable environment for the owners of privately held businesses. With 15 years of Naval Service as an officer in the nuclear submarine community, I choose to waive off the pursuit of positions within larger corporations to fend for [...]

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