Mike Periu on the call by billionaire Warren Buffett to create a more aggressive estate tax to help ease the deficit. Billionaire investor Warren Buffett along with Jimmy Carter, George Soros and Robert Rubin have signed a public letter calling for a more aggressive estate tax. They justify this call by indicating that a strong estate tax will help prevent "dynastic wealth," strengthen democracy and serve as a source of funds much needed by the federal government. The signatories believe that … [Read more...]
U.S. Falls Out of Top Ten on Prosperity Index for First Time
Finance expert Mike Periu on how the United States has fallen out of the top ten list of countries in the recently published Prosperity Index The Legatum Institute in London recently published its annual Prosperity Index and for the first time the United States did not rank in the top ten, coming in 12th out of 142 included in the study. This comes at a time when prosperity around the globe has increased. Scott Shane, Professor of Entrepreneurial Studies at Case Western Reserve University … [Read more...]
Banks Losing Dominance in Providing Financial Services
Finance expert Mike Periu discusses the decrease in popularity of traditional bank accounts as payment alternatives have evolved as Financial Services. Technological advances and changes in consumer behavior have effectively taken away the banking sectors dominance in the provision of many financial services. There are millions of households in the U.S. who don’t have traditional bank accounts. This has generally been seen as a problem with efforts focused on making them “banked". But now … [Read more...]
The Key Skills of a Successful Entrepreneur Revealed
Finance expert Mike Periu on the top five, learnable skills leading Successful Entrepreneur Target Training International recently conducted a multivariable analysis of successful serial entrepreneurs to determine which skills, traits and abilities they have in common and played a central role in their success. The results identified five skills that were most indicative of the entrepreneurial mindset, which set these winners apart from the control group. The five skills are: Persuasion, … [Read more...]
How to Deal With Objections Using Verbal Aikido
Finance expert Mike Periu on an innovative way to handle client complaints, known as Verbal Aikido. December 11, 2012 In the course of running a business, owners continually deal with objections. Potential customers object to the terms of an agreement, existing clients object to prices and financial partners object to requests for additional funding. According to successful entrepreneur, professor and author Conor Neill, we are not taught how to deal properly with objections. Our schooling … [Read more...]
Maximize Your Flexible Spending Account
Finance expert Mike Periu with a reminder to maximize the dollars in your flexible spending account before the year is over Flexible spending accounts offer a way to set aside pre-tax dollars for spending related to your health care. For many FSA holders, December 31st is an important deadline because unused FSA money can't be rolled over into next year—if money in the account isn't spent before the end of the year, you'll lose it entirely. If you have money in your FSA, there are a number of … [Read more...]
Finding a Strategic Buyer for Your Company
Finance expert Mike Periu on things to consider when looking for a strategic buyer for your company. Many small-business owners expect to exit their business through a strategic sale. Once the decision is made to sell the business, it's important to find potential suitors. This isn't always an easy process especially if you plan to sell to a private company yet to be identified. The first step is to grow the pool of potential suitors by ensuring that your business is well-organized and can … [Read more...]
Diagnosing Risky Business Assumptions
Finance expert Mike Periu shares advice on how to Diagnosing Risky Business and to help minimize the chance of failure when starting a small business. According to Diana Kander, Entrepreneur-in-Residence at the Kauffman Foundation, most start-up companies fail because they run out of time or money. This failure doesn't just happen out of the blue—it's usually predicated upon a set of assumptions by the founder or founders that turn out to be mistaken. Growing a business requires that owners … [Read more...]
End of Year Tax Tips for Small Business
Finance expert Mike Periu on Tax Tips: how a little tax planning now, before the year ends, can save your small business money. It's not too late to make financial decisions that can minimize your tax liability for the current year and future years. Even though you are busy with other end of year activities, a little tax planning can be quite a valuable investment. Consider the following tips: Take a section 179 deduction which allows you to expense the purchase of equipment for your … [Read more...]
Facebook Post Lands Netflix in Hot Water With the SEC
Finance expert Mike Periu on a possible SEC civil suit against Netflix for a social amplification on Facebook that positively affected their stock price On July 3rd, the CEO of Netflix Reed Hastings posted a message on Facebook indicating that users of the online video-streaming service had surpassed 1 billion hours of viewing. The stock price of the company rose 6.2 percent that same day. The SEC apparently wasn't too happy about this. They have sent the company a Wells Notice, which indicates … [Read more...]
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