Are You Prepared for a Business Transition?

on October 18, 2018 |By Jarrod Musick | Business Owners
At some point, we all need to transition the businesses we have built. That day may come in a year or in forty years. It could be in pieces over time or all at once, but it will come. Have you thought about what is going to happen when that day comes for your business? Most business equity transitions happen during our lifetimes. So, for now, I will focus on those and leave the transfers that occur at our death for another time. Of the types that happen during our lifetime, there are external transitions and internal transitions.  
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The Role of Life Insurance for Business Partners

on September 27, 2018 |By Jarrod Musick | Business Owners
As a business owner, there are opportunities to determine when to recognize income and when to be selective taking on expenses. One of the more frequent questions we get from business owners is “can the business pay for life insurance to reduce our taxes?”. The short answer is both “it’s complicated” and “no.”
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Design Your Business Around Your Health

on August 29, 2018 |By Jarrod Musick | Business Owners
 I live my life by eight core principles. One of them is: “Take care of your body, you only get one.” Money can buy a lot of things, but it can’t automatically buy you health. Taking the time to exercise, walk, or stretch each day as well as making intentional decisions about what I eat are foundational pieces to my vision of true wealth. But good health isn’t something that can happen overnight; it has to be built and maintained. This isn’t a blog about fitness and nutrition so I won’t go into the details on how to achieve good health. However, I do want to talk about the role that being a business owner can play in building the physical and mental health components of true wealth.  
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How to Be Conspicuously Wealthy

on July 24, 2018 |By Jarrod Musick | Business Owners
 What does it mean to be conspicuously ‘wealthy’? Is it driving a $100k car or posting pictures on Instagram of your new custom watch? Probably not. Is it bragging about your epic trip to Bali or that you rented a mansion on the beach while you were there? Probably not.  
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Is Your Business Creating True Wealth for You?

on July 02, 2018 |By Jarrod Musick | Business Owners
“You want to know the best part about startups?” - “What?” - “You only ever experience two emotions: euphoria and terror. I find that lack of sleep enhances them both.” This was a conversation between Marc Andreessen and Ben Horowitz in Horowitz’s book, The Hard Thing About Hard Things¹ when they were leading Loudcloud during the depths of the bursting of the tech bubble. Since that time the two have teamed up on a number of ventures and currently manage the wildly successful venture capital firm of Andreessen-Horowitz.
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