Author: Mike Taylor (Retired)

Many people have heard of private equity firms, but that doesn’t mean they know what they are or how they operate. Read on to learn private equity firm basics, and find out whether they could benefit your business.

Recently, I’ve had a number of conversations with business owners about employee turnover and the difficulty of hiring replacements. It’s no secret that there’s a shortage of qualified people at almost every level of our workforce. As our economy grows and business continues to expand, that problem will continue to get worse. So, here’s the … Continued

Many businesses don’t survive a change in leadership. But I’ve been around the block long enough to see Rea transition from its original CEO to three additional ones – and I’ve seen clients do this successfully, too. Here are some of the best practices I’ve picked up along the way. If You’re Passing It On … Continued

Have you watched the popular television show Mythbusters? The hosts of that show blow stuff up and disprove conspiracy theories. They never cover financial myths, yet these untruths may be just as easy to believe. So we’re going to bust common financial myths that many small business owners fall for. The Myth: When I’m choosing … Continued

A recent article in the Journal of Accountancy caught my attention. The article, “Restoring Fiscal Sanity” by David M. Walker, CPA (a former comptroller general of the United States), deals with the current sad state of affairs of the deficit spending that our elected representatives in Washington are perpetrating on all of us. It is … Continued

In almost every business owner’s life there comes a point when he contemplates moving on with his life in a different way. In many cases this decision involves disposing of his business. Typically, this is done by selling the business or transferring ownership and/or duties to the next generation. But what happens when the owner … Continued

Have you ever wondered why some business people are more successful than others? It doesn’t seem to make a difference what product or service they are selling either – certain individuals just have a natural ability to make a business progress. Our founder, Richard Rea, identified 11 common ingredients found in all successful business people. … Continued

Financial reporting and accounting are important parts of operating a business. You need current, accurate financial information to make informed decisions that impact your immediate and long-term business plans. However, compiling that information can become a challenge, especially if you’re doing it yourself. How do you know when you need outside help? And how do … Continued

Transitioning to new leadership can be difficult for any business, but a solid plan and advanced preparation can help. When CEO Tim Michel announced his intended retirement date, Rea & Associates applied the same advice we give our clients to our own transition. And while Lee Beall, currently an executive vice president of operations, won’t … Continued

Do you find yourself playing the whack-a-mole game in your business? You know, you “whack” a problem and think it is gone – and gone for good – but it just keeps popping back up? How do you confront your problems and issues head-on and resolve them once and for all? I recently attended a … Continued

After recently completing training on personal financial planning, I wanted to share some thoughts and tips with you. Do you have a personal financial plan? Do you effectively manage your money? As business people, we don’t always use the same planning and restraint with our personal finances as we do with our businesses. Here are … Continued