Sector Insights: Business Owner
Fall, 2018

Welcome to Sector Insights... giving executives and families of dynamic, privately-held companies the latest tax, business and financial news affecting their performance... and ultimately, their success.

*           *           *
 
This is how successful CEOs spend their time -  Most chief executives have tremendous resources at their disposal. But many face an acute scarcity in one critical area: time. Drawing on a 12-year study, a series of articles in Harvard Business Review examines the unique time management challenges of CEOs and the best strategies for conquering them.

Passing the torch without getting burned - Whether you are a business owner nearing retirement or are still several years away, it makes sense to have a transition plan in place. We sat down with RBF managing partner Bill Rucci to talk about business succession planning - what it is, and why it matters.
 
Survey: companies that outsource accounting services report higher profits  - A poll conducted by Bill.com found that businesses using a CPA firm's client accounting services (such as those provided by our  OASyS practice group ) report higher profits and greater financial insights. Thirty percent of respondents said they felt more prepared to make business decisions, while half said they were less worried about mistakes.
 
Why you need to make your team uncomfortable from time to time  - It's crucial to have a sense of community in the workplace. But too much comfort can hinder progress. As guest author Scott Belsky suggests in a story for business management website fastcompany.com, to maintain a strong team, you need to keep shaking things up.
 
Around the office  -  In September, RBF partnered with Next Level Inc . and The Raffoni Group  to host a dozen CEOs for a round-table presentation and discussion at the RBF conference center in Woburn. Participants took turns sharing their business challenges and successes in a spirit of mutual problem-solving and peer support. One CEO found that "applying suggestions and general business ideas to my own company, and using other industry practices to look at my situation from a different light" was a particularly valuable takeaway...  RBF partner Paul Bardaro will be a guest panelist at a Morgan Stanley-sponsored panel discussion for business owners, to be held November 13 at Brae Burn Country Club in Newton, MA.  Paul will speak about business valuation and the tax considerations around various business buy-out strategies ... A recent survey of RBF business clients revealed confident expectations about the prospects for their companies in 2018. A solid four out of five (84%) expressed optimism about the future, and nearly nine out of ten (86%) said RBF has had a direct and positive impact on their business. Read a more detailed summary of the survey here.

Have a question, a comment or an idea for the next edition of 
Sector Insights? Drop us a line at info@rbfpc.com
 Success, Measured.

500 Unicorn Park Drive, Suite 101, Woburn, MA 01801
Phone 781.321.6065    Fax 781.321.7747

  RBF is the New England-area affiliate of Russell Bedford International, a leading global network of independent accounting and business consulting firms.
STAY CONNECTED: