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Business Mentors

Addressing key questions about the Nonprofit Revitalization Act

The state’s Nonprofit Revitalization Act (NPRA) took effect July 1, 2014. Nonprofit organizations throughout New York have invested a significant amount of board, management, legal, and financial effort in complying with requirements of this extensive reform legislation. Two of the primary focus areas for both reform and increased board governance regard conflicts of interest and […]

Did You Become WISE?

What others dream about, WISE women do. On April 21, the women Igniting the Spirit of Entrepreneurship (WISE) Symposium hosted its 13th annual event. More than 900 aspiring entrepreneurs who desire to attain success and significance attended the event at the Carrier Dome on the Syracuse University campus.   Over the past decade, WISE has

Cost-Benefit Analysis for Financial Planning

Many investors ask about the cost-benefit analysis of financial planning. Fee-only advisors can claim their compensation is straightforward and easy to understand. In contrast, commission-based advisors, due to their complex billing, are hard pressed to provide you with your true costs. Thus, you may already be paying more than you realize.   Many financial professionals

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Avoiding a Government Head Fake on Retirement Savings

Retirees should reconsider strategies on IRA, 401(k) withdrawals   A government rule on retirement savings may be tricking retirees into looking at their financial situations all wrong.   The rule says retirees can’t leave money in their IRA or 401(k) accounts forever. At age 70½, they must begin making minimum withdrawals, even if they prefer

The Right Way to Communicate through Business Transitions

Business transitions, such as mergers and acquisitions, aren’t just multi-billion dollar transactions for the top Fortune 100 companies. Many mid- and small-sized businesses are pursuing strategic opportunities to join forces with similar or complementary organizations. It might be something your company is considering, especially as you plan for the next generation of leadership.   If

ExportNY helps companies tap international markets

The International Trade Administration recently reported U.S. export statistics for 2013. According to the state export fact sheet, the metro areas of Syracuse and Utica–Rome were responsible for more than $2.5 billion in merchandise exports. New York’s top-five export markets were Canada, Switzerland, Hong Kong, Israel, and China. Of the 41,000 exporting companies from New

The Top 10 Employee-Handbook Mistakes that Businesses Make

Done right, employee handbooks serve multiple functions. They provide employees with important information about a company, its practices, and the working environment. They also help protect employers legally by setting clear expectations and standards.   But, done wrong, employee handbooks can do more harm than good. Policies that are too specific and rigid can potentially

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