Business Briefs

May 2012

POTENTIAL RESULTS OF A FORCED LIQUIDATION

Do You Know What a Forced Liquidation Can Do to the Value of Your Business?

If liquidation is forced on a disabled business owner or on the executor of a deceased business owner, it can quickly become public knowledge that there is pressure to dispose of the business, and these results can be anticipated:

  • Sale of business assets at greatly reduced prices.
  • Elimination of the disabled business owner's or surviving family's primary source of income.
  • Sacrifice of any goodwill value that might have facilitated sale of the business as a going concern.
  • Difficulty in collecting accounts receivable.
  • Immediate demand by creditors for settlement of their claims.
  • Possible liquidation of other estate assets to pay business debts.

The liquidation value of a business is unpredictable and may be substantially less than the value of the business as a going concern.

The Alternative... A Planned Liquidation:

In some situations, the liquidation of a business interest at an owner's death or disability may not be just an appropriate decision. It may, in fact, be the only possible outcome under either of these circumstances:

  • The success of the business is completely dependent on the personal skill and experience of the owner.
  • There is no successor management in the form of a capable family member, a co-owner, a key employee interested in purchasing the business or an outside buyer.

In these circumstances, the question then becomes:

Will the liquidation take place on a forced basis, or will it be planned in advance to allow for the most advantageous disposition possible?

When liquidation of the business at an owner's death or disability is the only viable alternative, the primary objective should be to plan in advance for an orderly liquidation that results in the greatest possible value for the disabled owner or surviving family. Please contact my office if we can help.


MESSAGES
from the Masters...

FACING THE ENEMIES WITHIN

by Jim Rohn

We are not born with courage, but neither are we born with fear. Maybe some of our fears are brought on by our own experiences, by what someone has told you, by what you've read in the papers. Some fears are valid, like walking alone in a bad part of town at two o'clock in the morning. But once you learn to avoid that situation, you won't need to live in fear of it.

Fears, even the most basic ones, can totally destroy our ambitions. Fear can destroy fortunes. Fear can destroy relationships. Fear, if left unchecked, can destroy our lives. Fear is one of the many enemies lurking inside us.

Let me tell you about five of the other enemies we face from within.

The first enemy that you've got to destroy before it destroys you is indifference. What a tragic disease this is. "Ho-hum, let it slide. I'll just drift along." Here's one problem with drifting: you can't drift your way to the top of the mountain.

The second enemy we face is indecision. Indecision is the thief of opportunity and enterprise. It will steal your chances for a better future. Take a sword to this enemy.

The third enemy inside is doubt. Sure, there's room for healthy skepticism. You can't believe everything. But you also can't let doubt take over. Many people doubt the past, doubt the future, doubt each other, doubt the government, doubt the possibilities and doubt the opportunities. Worse of all, they doubt themselves. I'm telling you, doubt will destroy your life and your chances of success. It will empty both your bank account and your heart. Doubt is an enemy Go after it. Get rid of it.

The fourth enemy within is worry. We've all got to worry some. Just don't let it conquer you. Instead, let it alarm you. Worry can be useful. If you step off the curb in New York City and a taxi is coming, you've got to worry. But you can't let worry loose like a mad dog that drives you into a small corner. Here's what you've got to do with your worries: drive them into a small corner. Whatever is out to get you, you've got to get it. Whatever is pushing on you, you've got to push back.

The fifth interior enemy is over-caution. It is the timid approach to life. Timidity is not a virtue; it's an illness. If you let it go, it'll conquer you. Timid people don't get promoted. They don't advance and grow and become powerful in the marketplace. You've got to avoid over-caution.

Do battle with the enemy. Do battle with your fears. Build your courage to fight what's holding you back, what's keeping you from your goals and dreams. Be courageous in your life and in your pursuit of the things you want and the person you want to become.

To Your Success,
Jim Rohn

Brought to you by:

Bill O'Quin, CLU, ChFC, RFC

The Virtual Assistant

2651 Kleinert Ave.
Baton Rouge, LA 70806
225-387-9845
boquin@fsonline.com
http://theVirtualAssistant.com

About our firm:

The Virtual Assistant is located on the Internet and provides unlimited access via a password and user id to tools and support materials for financial advisors. The subscription is just $23.95 per month and the first month is always free! No other product offers the convenience, accuracy and industry-trusted resources of The Virtual Assistant at such an affordable price. The Virtual Assistant is the only product that offers Financial Snapshots, Priority Approaches, and Priority Planning Reviews. It also includes our popular Virtual Advisor, a twice monthly publication providing ideas on how to make sales using The Virtual Assistant, as well as executive summaries of events that affect financial advisors.

QUOTES
from the Masters...

On Getting Started

"Each indecision brings its own delays and days are lost lamenting over lost days...What you can do or think you can do, begin it. For boldness has magic, power, and genius in it."

-- Johann Wolfgang von Goethe

"Think big, start small."

-- Patricia Fripp

"Your present circumstances don't determine where you can go; they merely determine where you start."

-- Nido Qubein

On Goals

"All things are created twice. There's a mental or first creation, and a physical or second creation of all things. You have to make sure that the blueprint, the first creation, is really what you want, that you've thought everything through. Then you put it into bricks and mortar. Each day you go to the construction shed and pull out the blueprint to get marching orders for the day. You begin with the end in mind."

-- Stephen Covey

"The ultimate reason for setting goals is to entice you to become the person it takes to achieve them."

-- Jim Rohn

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

Published by The Virtual Assistant; © 2012 VSA, LP

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