Category: Key People_Or Group

Performance Management for Small Businesses: 5 Things Every Owner Needs to Know

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Company Wealth, evaluations, Income from your business, Key People_Or Group, Passive Ownership, Team, Value drivers

From the Building and Protecting Your Business Worth Broadcast | Guest: Ken Somers

By: Thomas J. Perrone, CLU,CIC

Running a small business means wearing every hat — but one role too many owners neglect is that of a true people manager. On a recent episode of the Building and Protecting Your Business Worth Broadcast, hosted by Thomas J. Perrone of New England Consulting Group of Guilford, guest Ken Somers broke down five critical areas where small businesses can’t afford to fall behind.

1. Performance Management Isn’t Just for Big Companies

Even the smallest teams need structure around performance. Without clear expectations, feedback loops, and accountability, small businesses often lose their best people — or keep their worst ones too long. Performance management doesn’t have to be bureaucratic. Done right, it creates clarity, motivation, and a culture where people actually want to show up and do their best work.

2. Management Succession: Plan Before You Have To

Most small business owners have never thought about what happens if they step away — suddenly or by choice. A basic management succession plan doesn’t require an HR department. It starts with identifying who on your team could step up, what gaps exist, and how you’d develop them over time. Waiting until a crisis hits is the most expensive way to learn this lesson.

3. Rising Healthcare Costs? There Are Smarter Options

Medical insurance is one of the fastest-growing costs for small business owners, and many are still using outdated group plan structures. Two alternatives worth exploring: ICHRA (Individual Coverage Health Reimbursement Arrangement) and QSEHRA (Qualified Small Employer HRA). Both allow employers to reimburse employees for individual health insurance, giving owners cost control and employees more flexibility — without the volatility of traditional group premiums.

4. Every Leader Needs a Coach

Small business owners tend to go it alone. But the most effective leaders — at every level — have coaches. Whether it’s a business coach, executive coach, or peer advisory group, outside perspective helps leaders see blind spots, make better decisions faster, and avoid the isolation that comes with being at the top. If you want your leadership team to grow, coaching isn’t a luxury — it’s infrastructure.

5. Culture: Why It Matters More Than You Think

Culture in a small business isn’t a ping-pong table or a mission statement on the wall. It’s the set of unwritten rules that determine how your team behaves when you’re not in the room. A strong culture attracts better talent, reduces turnover, and makes your business more resilient. Ignoring it doesn’t mean you don’t have one — it just means someone else is defining it for you.

Questions or comments from the broadcast? Reach out to Thomas J. Perrone directly at tperrone@necgginc.com. His book, “Unlocking Your Business’ DNA,” is available on Amazon in paperback and Kindle — with profits going to Veteran Groups.

ken@somershrsolutions.com

(508) 507-1207

Solving the Hidden People Problems That Stall Your Business

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Estate Planning, evaluations, Key People_Or Group, Strategies of growing business

By Thomas J. Perrone, CLU,CIC

From the Building and Protecting Your Business Worth Broadcast | Guest: Nancy Jonker, PhD

Most business owners are great at strategy. Where they get stuck? People. The persistent, uncomfortable, often-avoided challenges that quietly drain productivity, erode partnerships, and eat into the bottom line.

That’s exactly what Dr. Nancy Jonker, Business Consulting Psychologist and Executive Coach at DaptaWise, helps leaders untangle.

When Strategy Is Actually a People Problem in Disguise

One of the most common traps business owners fall into is diagnosing a people challenge as a strategy or execution issue. When results aren’t coming in, it’s tempting to tweak the plan — but often, the real friction lives in how people are communicating, collaborating (or not), and responding to change.

Nancy specializes in uncovering these hidden dynamics using tools like AQai adaptability assessments, Kolbe, and Systemic Team Coaching to get beneath the surface fast.

The Real Cost of Avoiding Hard Conversations

Silence is expensive. When leaders sidestep difficult conversations — with partners, team members, or direct reports — those gaps compound over time. Misalignment grows, resentment builds, and talented people disengage. By the time it shows up in the numbers, the damage is already done.

The good news: there’s almost always a clear path forward, even when a situation feels hopeless at first.

You Shouldn’t Have to Figure This Out Alone

Many owners believe they should be able to resolve people problems themselves. But just as you’d call a financial advisor for complex tax strategy, there’s real value in bringing in an expert when human dynamics are at stake — before the cost of avoidance becomes irreversible.

Nancy’s approach cuts to clarity without months of therapy or extended offsite retreats. Often, one small shift in how a leader frames a conversation or responds to conflict can unlock momentum for the entire team.

One Takeaway for Overwhelmed Leaders

If you’re stuck in a sticky people challenge right now, start here: name the gap, not the person. Shift the conversation from blame to behavior, and focus the team on what outcome you’re all actually trying to reach. That one reframe can move a stuck partnership from silence to action.

To learn more or connect with Nancy Jonker, visit DaptaWise on LinkedIn.

Interested in estate and business planning support? Contact Thomas J. Perrone at tperrone@necgginc.com or call 203-530-6615. His book, “Unlocking Your Business’ DNA,” is available on Amazon — profits go to Veteran Groups.

Case Study: Rapid Sales Growth and Ownership

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Buy and Sell Agreements, Company Wealth, Estate Planning, Funding your Buy and Sell, Key People_Or Group, Strategies of growing business, Valuation, Working On Your Business

Case Example Using Term Insurance

By Thomas J. Perrone, CLU, CIC

This was a situation where the company needed protection but wasn’t ready to purchase permanent insurance, even though the situation called for it.  However, the term insurance gave them what they wanted at the time and gave them the needed protection. 

Scenario: 

 A thriving business, comprising three partners—a relationship builder, an idea generator, and a product engineer—experienced remarkable sales growth within a few years. However, a potential challenge arose regarding ownership transfer upon a partner’s death, as all partners shared familial ties. 


To mitigate this concern, a comprehensive stock redemption program was devised and funded through a term insurance policy with a premium exceeding $60,000. This strategic approach enabled the business to navigate ownership transfer complexities and ensure the continuity of its operations.

Through the years, parts of the term insurance has been converted, and the company is paying about $125,000 in insurance premium to fund their liabilities and commitment.  

The case was developed through a relationship i had with one of the owners, through an introduction.  

Lesson:  

Even though this was a start up and a young company, if I has assumed it did not have the cash flow, I would have lost out on all the great potential.  Don’t assume anything, but let your client tell you what they want and why. 

THE WHY: 

There was a past history of the one of the current partners where their family member was part of a company where the partner died.  No planning was done, so the deceased partners family became the new partners.  This was not pretty, and the business ended up in chaos.  Obviously, a motivating factor for the current owner to have a good Buy and Sell Agreement where it was funded 

If you are an advisor who is working with business owners or wants to develop a business market segment in your practice, we should talk. We offer great opportunities working with our organization and deep backup.  

Thomas J. Perrone, CLU, CIC

tperrone@necgginc.com

WHY A BUY AND SELL AGREEMENT FOR AN S CORPORATION IS NECESSARY! 

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Buy and Sell Agreements, Company Wealth, Estate Planning, evaluations, Key People_Or Group, Selling Your Business

By Thomas J. Perrone, CLU, CIC 

A Buy and Sell Agreement for an S Corporation needs special designs.  

Key Point on Redemption of S Corporation 

  • Special tax needs 
  • Financial security 
  • Triggers that transfer the S corporation 
  • Conflicts 

Also, a proper buy and sell agreement can do the following:  

  • Avoid a fire sale 
  • Create stability for employees and creditor/vendors 
  • Avoid termination of the S corporation status 
  • Avoid costly litigation 
  • Create a market 

This video explains why a proper BSA is needed. It covers many areas when the company has selected S corporation status.  

Summary 

A properly designed buy and sell agreement (BSA) is essential for S Corporations due to unique tax concerns. It is important for financial security. Triggering events can transfer ownership and cause potential conflicts. Such an agreement helps prevent fire sales. It ensures stability for employees and creditors. It also protects S Corporation status. Additionally, it avoids costly legal disputes and creates a market for shares. The document highlights the importance of addressing these areas to keep smooth business operations. 

Buy and Sell Agreement Tutorial

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Buy and Sell Agreements, Company Wealth, Estate Planning, evaluations, Funding your Buy and Sell, Income from your business, Key People_Or Group, Passive Ownership, retirement, Selling Your Business, Valuation, Value drivers

By: Thomas J. Perrone, CLU,CIC

and Sell arrangements that have emerged since the Connelly case.

The tutorial delves into the rationale behind the utilization of these arrangements and elucidates their advantages.

Furthermore, a comparative analysis of the funding costs associated with different Buy and Sell Agreement structures is presented.

FREE BOOK “UNLOCKING YOUR BUSINESS DNA” FREE DOWNLOAD

https://www.allclients.com/Form3.aspx?Key=4F3D16E276A4EC0C73BFDC182AA06C23

Strategies for Making Your Taxable Retirement Plan – Tax-Free

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Company Wealth, Estate Planning, Executive Benefits, Key People_Or Group, retirement, Tax Efficient, Tax Free Income

By Thomas J. Perrone, CLU, CIC 

Retirement plans such as 401(k), IRA, 403(b), Cash Balance, Profit Sharing, and other qualified plans are popular choices for securing one’s future. While these plans focus on accumulation and stock market returns, which can be quite exciting, there are significant drawbacks associated with them.

Although retirement plans offer the appeal of disciplined savings and the potential for growth over time, they also come with inherent risks that are often overlooked. These plans, designed to assist participants, can sometimes result in financial shortfalls or unforeseen tax liabilities. The unpredictability of market performance and regulatory constraints may cause participants to question the adequacy and reliability of such strategies. Addressing these concerns proactively is essential for ensuring a smoother retirement journey and providing stronger security for loved ones.

Life insurance can help mitigate these downsides. However, there are several critical discussions that are seldom addressed when dealing with qualified retirement plans:

  • Future taxation: 100% of the funds are taxed upon withdrawal.
  • Death, disability, or termination of the plan: These events can significantly affect the ultimate outcomes for the family. For instance, if the participant dies five years into the plan, the family may not receive the anticipated benefits.
  • Sufficiency: Will the plan provide 60-75% of your final earnings?
  • Contribution limits: Participants may struggle to contribute enough to create the principal needed to achieve the desired percentage, particularly highly compensated employees.

These issues can be addressed effectively by incorporating life insurance into the retirement strategy.

The accompanying video explores some of the most pressing questions regarding retirement plans.

Learn about the JFK ERA benefit plan used for high earners, a plan that will create tax-free benefits with very few restrictions. This is a plan every Business Owner should know about.

Get your FREE REPORT– CLICK THE LINK BELOW

https://www.allclients.com/Form3.aspx?Key=277641709EAD8CD47ED41034FB533AB4

Thomas J. Perrone, CLU, CIC

tperrone@necgginc.com

A Business Owner Committed to Exceptional Service and Effective Communication! 

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Company Wealth, evaluations, Key People_Or Group, Working On Your Business

By Thomas J. Perrone, CLU, CIC

Romeo Belisle is committed to exceptional service and communication, defying the trend of declining client service and employee mentorship. With a background in the Navy, Romeo values quality above all. He discusses his unique approach to training employees and maintaining constant communication with clients. Romeo’s mission is to ensure quality in all his businesses, enriching both end users and those around him.

Dan-Kar
192c New Boston st
Woburn, MA 01801 Map

Dan-Kar Website

(508) 916-8645 w

romeo@dan-Kar.com

Romeo Belisle of Dan-Kar Corporation in Woburn, MA, is a notable business owner. You can learn more about him on LinkedIn: linkedin.com/in/romeo-belisle-ba364416a

Romeo’s work focuses on helping and serving others, with a vision for business growth that aims to improve life for everyone. Read his LinkedIn profile and you’ll agree. Today, we’ll discuss business, growth, culture, and expansion.

https://podcasts.apple.com/us/podcast/building-and-protecting-your-business-worth/id1539791693?i=1000704913159

Free Ebook; “Building and Protecting Your Business Worth”. Over fifty years of business planning!

CLICK

New England Consulting Group of Guilford, Inc.

tperrone@necgginc.com

The Process Of Transition In The Mind Of A Business Owner!

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, evaluations, Income from your business, Inside Sale, Key People_Or Group, Passive Ownership

Thomas J. Perrone, CLU, CIC

It’s not easy thinking about the transition of your business! Ask any business owner who has built their business, treated it like a family member, and put all that they had in their “life’s effort”.

It’s a great story with great lessons.

https://podcasts.apple.com/us/podcast/building-and-protecting-your-business-worth/id1539791693?i=1000690360724

Overcoming Workplace Burnout with the 3.3 Rule

by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Executive Benefits, Key People_Or Group, Team, Uncategorized, Value drivers, Working On Your Business

Thomas J. Perrone, CLU, CIC

Feeling stress or burnout in your career?  Feel like you have no life because you feel you must be working in your career? Feel you are missing time with your family. Starting to hate what you do?  

Tom and John discuss this fabulous and innovative book and how it can change the lives of many.   

Why do we work 40,50,60 hours of work a week?  Why do we feel guilty when we aren’t working. Why do we feel burnout often?   

These are some of the many questions John Briggs’ book covers in “The 3.3 Rule”.   

This book will give you the path you need to start enjoying more time away from work while starting to enjoy your work again.  It gives you permission to change the rules for yourself, your family and your employer.  

Throughout the book John proves that the idea of working till you drop does not make any sense for the modern worker. 

  CLICK TO LISTEN

**John Briggs, CPA 

38 W 13775 S suite 310 

Draper, UT 84020 

Phone: (801) 999-8295 

Email: adminteam@incitetax.com 

Located in Draper, UT 

Take the Planning Tools Out of the Shed- You’ll Need Them!  

Featured by YOUR BUSINESS WORTH, posted in Business Growth and Transition, Buy and Sell Agreements, Company Wealth, Estate Planning, evaluations, Executive Benefits, Funding your Buy and Sell, Income from your business, Inside Sale, Key People_Or Group, Life Insurance Types, Passive Ownership, retirement, Selling Your Business

Thomas J. Perrone, CLU, CIC

After the 2017 Jobs Act, many of us (estate and business planners), had to shift our planning topics to moderate estate, Medicaid and income tax planning.  

Many of the tools we used prior to the 2017Jobs Act were often used in the planning process, simply because more business owners were affected and exposed to the Federal and State Estate Tax System. Consequently, more sophisticated strategies were needed to shift value, freeze value, or shelter value from the estate.  

Once the Jobs Act came into play, the exemption amounts eliminated many small business owners from the problem of estate taxation.  

However, with part of the Jobs Act heading for Sunset, we may see more businesses becoming exposed to Federal and State estate taxation.  

Time to go to the shed if you want to play in this market.  

This video will help guide you to some of the areas of planning you will have to dust off and rekindle for use.  

Download your Free Business Guide which will help explain many of the topics discussed. Immediate download, CLICK HERE! 

Thomas J. Perrone, CLU, CIC

tperrone@necgginc.com