From $47B to $8B in Nine Months

on January 13, 2020 |By Jarrod Musick, CFP® | Business Owners
How does $47B turn into $8B in nine months? Ask WeWork.   For any entrepreneur, what you should expect to receive from a business exit depends on several factors, most of which are outside of your control. WeWork gives us a high-profile cautionary tale of how an external sale can flame out very quickly.  
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Creating Incentives for Key Employees

Keeping the best talent on your team means building a vision for their career at your company.   If you have ever lost someone talented, or are worried about losing someone right now, this article is for you.   The best part about working with talented, motivated people is that they are the ones that drive your company forward. They create the value that you deliver to your clients and customers. They are the ones responsible for driving the business equity growth.  
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How to Leverage Opportunity Zones

on October 28, 2019 |By Jarrod Musick, CFP® | Business Owners
Opportunity zones are new, powerful opportunities for expanding businesses, and are not widely understood. That combination matters if you are raising capital for your business.  Opportunity zones are not enterprise zones, blighted areas, empowerment zones, or any of the litany of other designations. Opportunity Zones (OZs) were created in the 2017 tax reform bill. The provision allowed for the designation of specific geographic areas that met certain economic criteria. As a result, there are now 8,700 OZs around the country that allow for special tax benefits to investors who invest in companies in those zones. There are several tests that a company can meet to qualify as a Qualified Opportunity Zone Business (QOZB), but they center around the primary operations and most of the employees being located in the OZ or across multiple OZs.  
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Stop Selling Yourself Short

on September 30, 2019 |By Jarrod Musick, CFP® | Business Owners Impact
Everyone impacts the world around them, planned or not. At Destiny Capital, we have always had conversations with our clients about how they are currently making an impact and how they aspire to. Because it's important, we have developed a structured way to have this conversation and to refresh it every so often. Out of these discussions, we have discovered how differently everyone looks at impact and how it makes us feel. Some people immediately think of it as charitable contributions or volunteer work. Some think of it as being available and present to those closest to them. Some think of it as creating something that changes the world. The truth is, everyone has a different way that they show up for the world around them, and impact is unique to each of us.  
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Why Valuation Matters for Closely-Held Businesses

on September 09, 2019 |By Jarrod Musick, CFP® | Business Owners Planning
We are all working towards an end-of-business ownership event, whether it's an external sale, an internal succession, or a transition to your family through an estate plan. Whichever path you hope to take, the change will arrive someday. Knowing that the business will transition away from you at some point, it's a must to have a strategy in place. A key piece of data for that strategy is a current valuation so that you can understand what your business is worth.  
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