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Nonprofits should beware of internal fraud
Nonprofit organizations are not immune to theft by their employees or volunteers. In fact, sometimes they are more vulnerable because charitable organizations tend to place more faith in the individuals in their organizations, perhaps wrongly...
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What improvements should be made before selling your business?
You’ve made the decision to sell. How can you get the most for your business? It probably won’t be by putting it on the market as is, unless you’re one of the fortunate few who sell at the lifecycle peak. Too many owners wait...
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Is your business committed to its cost-control regimen?
At the beginning of the year, many people decide they’re going to get in the best shape of their lives. Similarly, many business owners declare that they intend to cut costs and operate at peak efficiency going forward. But, like keeping up...
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Why it's vital to know the value of your business
Would you be surprised to learn that most business owners don’t know the value of their own businesses? More than half of business owners have never had their company valued and don’t anticipate doing so, research shows, and many...
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Fraud Alert: The ACFE Puts a Spotlight on White Collar Crime
The average organization loses 5% of its annual revenues to fraud, according to the 2016 Report to the Nations on Occupational Fraud and Abuse published by the Association of Certified Fraud Examiners (ACFE). Bear in mind, that's the top line of...
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How susceptible is your practice to fraud?
Physicians manage the health risks of their patients every day. But what about the health of their practice? Fraud is a common risk found in organizations large and small, including medical offices. Implementing certain internal controls can go a...
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Managing Your Business through a Crisis: 6 Steps to Success
By nature, most people avoid planning for crisis situations. After all, there is so much to do in the here and now without trying to second guess the future. Business leaders are no exception when it comes to the often thankless task of...
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Is a micro-captive insurance company for your business?
Too many questions, not enough answers. Sounds like the title of a bad song, right? Business owners continue to hear that an excellent risk-mitigation vehicle is to start a captive insurance company. But what is a captive insurance company, and...
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Four ways to increase referrals to your business
When it comes to getting referrals for your business, look no further than your existing customer base. There’s nothing better than the recommendation of a satisfied customer. Most business owners will tell you that it takes more than...
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Consider an Alternate Metric to Value Your Small Business
Would you use a complicated discounted cash flow analysis to estimate the value of a mom-and-pop restaurant? How about using a price-to-earnings multiple derived from publicly traded restaurant chains? Neither method seems appropriate for a small...
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