Getting Out: The Financial Planning Features of a Business Exit Strategy

If an IPO is used as an exit strategy, it is important for ownership to begin planning for it right from the start and include it in the business plan.

Starting a business takes a large amount of planning. But after the business plan is completed, retail or office space is rented and employees are hired, many entrepreneurs have neglected one crucial question: When the time comes, how will they exit their business? When owners are immersed in the details of building a business, it’s… [More...]

A Future of Change: Economic Development

At the top of the economic development wish list is unmanned aerial vehicles, also known as drones, presenting one of the biggest opportunities for Nevada.

Nevada, because of its narrow focus on three industries, was devastated by the recession and eventually led the nation in foreclosures and unemployment. As both the director of the Governor’s Office of Economic Development (GOED) and a resident of Nevada, Steve Hill believes there is a rising wave of economic development diversifying an outdated and… [More...]

Closing the Generation Gap: Millennials vs. GenXers vs. Baby Boomers

In workplaces across Nevada, change is coming more quickly than at any time since the baby boomers generation changed the status quo regarding diversity.

In workplaces across Nevada, change is coming more quickly than at any time since baby boomers changed the status quo regarding diversity, hair length and governance in the 1960s. On shop floors and in cubicle farms from Ely to Searchlight, millennials – a term used to describe those under age 34 – are challenging the… [More...]

Nevada’s Utilities: Fueling the State’s Energy and Water Needs

As movers and shakers in Nevada’s utilities industry plan for the future, they share a number of common bonds in the challenges they face.

As movers and shakers in Nevada’s utility industry plan for the future, they share a number of common bonds in the challenges they face. Future strategies are likely to make provisions for such factors as increased regionalization, new regulations, enhanced customer satisfaction, state-of-the-art technologies, alternative energies, drought conditions, greater management efficiencies and economic growth. Decision… [More...]

Power Poll 2014: The Bounce Back

The 2014 Power Poll marks the twelfth year executives have weighed in on various issues that affect business for Nevada Business Magazine.

Optimism characterizes the mood of Nevada executives this year. Whether it’s waving goodbye to the recession or already having moved on to bigger and better things, business owners and executives have officially brushed off the oppressive economy and are now working on the bounce back. The 2014 Power Poll marks the twelfth year executives have… [More...]

Banking on Nevada: A New Day Dawning

Banking doesn’t exist in a vacuum; the industry is affected by the economic environment.

Banking doesn’t exist in a vacuum; the industry is affected by the economic environment which, in turn, can be directly affected by practices and realities within the banking industry. So it should be good news that Nevada bankers are feeling optimistic about 2014. The banking industry has stabilized, according to George E. Burns, commissioner, Nevada… [More...]

Betting on Gaming in Nevada

Nevada and gaming go together like peanut butter and jelly, it has been Nevada’s foundation for so long it’s hard to think of one without the other.

Nevada and gaming go together like peanut butter and jelly. The industry has been Nevada’s foundation for so long it’s hard to think of one without the other. However, as gaming changes, Nevada has found itself adapting and learning to find new ways to earn revenue in a market that, it would appear, everyone wants… [More...]

A Primer on Estate Planning: Be Prepared

Estate planning is one of those tasks everyone knows is important, staring the Grim Reaper in the face to figure out how to distribute assets isn’t fun.

Estate planning is one of those tasks everyone knows is important, but few do eagerly. After all, staring the Grim Reaper in the face to figure out how to distribute assets isn’t fun. However, postponing the decisions is a mistake. Jeffrey Burr, an attorney specializing in estate planning, explained many of the threats that lurk.… [More...]

Medical Marvels

The 2013 Medical Marvels list wherein all of Nevada’s communities were encouraged to nominate their doctors for the exceptional work they do.

The healthcare industry has seen a vast amount of changes in a short time period leaving doctors working double time to catch up. This has only helped solidify the drive and passion of many of Nevada’s excellent healthcare providers. The following list highlights these doctors as ranked by the community and their peers. The 2013… [More...]

Franchising: A Rapid-Growth Business Model

Despite the inherent and external challenges, franchising can be very rewarding, if done right.

Since 1985, Reno-headquartered franchisor, Port of Subs Inc., has sold licenses to entrepreneurs to independently own and operate its made-fresh-to-order sandwich shops, in accordance with the brand and the parent companies’ wishes. Today, the corporation has 108 franchisees in addition to 35 of its own locations, spread throughout the western U.S., and it continues to… [More...]

Mind Lock: Protecting Intellectual Property

The biggest mistake companies make when it comes to their intellectual property is failing to fully identify and protect it, experts said.

The biggest mistake companies make when it comes to their intellectual property is failing to fully identify and protect it, experts said. The consequences can be disastrous and expensive. “Intellectual property is becoming more and more important as our economy changes into an idea-based economy from a manufacturing-based one,” said Charles Lombino, an intellectual property… [More...]

Creating New Opportunities: Executive Education in Nevada

Nevada offers various executive educations opportunities, from courses to degrees designed specifically for middle to upper management.

In today’s competitive job market and with evolving technologies, it’s not unusual for corporate executives to pursue additional education, whether to increase their knowledge in specific areas, update or acquire skills, discover new trends or even learn new management styles. Nevada offers various academic opportunities, from courses to degrees, some of them new, designed specifically… [More...]

Credit Unions in Nevada: They’re Coming Back

Many credit unions in Nevada are garnering profits, a welcome trend.

During the recession, Nevada’s Boulder Dam Credit Union (BDCU) moved from the black into the red, primarily due to loan losses, said President and CEO Eric Estes. It weathered the financial decline by shrinking assets and shares. After three and a half years in the doldrums, the credit union’s health began to turn around. BDCU… [More...]

Workforce Development In Nevada

From an economic development standpoint, workforce development and diversification is singularly the most important facet.

In the wake of the recession, with unemployment just under 10 percent, it would seem employers would have no problem filling positions. But though Nevada’s employment base is growing again, it remains below pre-recession levels and of people who have gone back to work, a disproportionate share have gone back part-time or in jobs that… [More...]

Flip a Switch, Turn on a Faucet: Nevada’s Utility Companies

Utilities in Nevada took a beating during the recession. Now the light at the end of the tunnel may be an indication that the economy is recovering.

Utilities in Nevada took a beating during the recession. Now the light at the end of the tunnel may be an indication that the economy is recovering. Utilities is a catchall phrase for services businesses and individuals use on a daily basis: water, power, natural gas. Most utilities are regulated by the Public Utilities Commission… [More...]

The Right Person for the Right Job

Despite the number of people unemployed in the Silver State, hiring the right people for the right positions is important for employers.

What Employers are Offering to Find the Right Employees In January 2000, when unemployment in Nevada stood at 3.8 percent, everyone who wanted a job was working. Retention was key for businesses and if the quality employees that employers wanted to retain requested bright orange walls and a slide in the lunchroom, or wanted to… [More...]

See You in Court: Business Litigation in Nevada

In business litigation, taking steps to protect your business can mean the difference between see you in court and see you at settlement.

Conventional wisdom says that when the recession hit in late 2007, lawsuits between businesses probably increased as companies tried everything to stay afloat, including collecting all debts owed and enforcing contractual agreements. But many attorneys working in litigation saw a decrease in lawsuits filed in most arenas. Instead, there was a rise in alternative dispute… [More...]

Getting There: Transportation in Nevada

Transportation in Nevada

Nevada is a hub state, with easy access and distribution from both ends of the state to the Western states. Northern Nevada offers access by roadways, railways and an international airport as well as additional airports in surrounding areas. Southern Nevada offers ground access to Los Angeles, Phoenix, Salt Lake City and points south. The… [More...]

The Office Environment Evolves: Changing the Rules of the Workplace

The Office Environment Evolves: Changing the Rules of the Workplace

Given the organic changes taking place in business, why would anyone suppose that office environments would stay the same? In fact, they aren’t. Office evolution — cubicles and work stations that are smaller; more flexible spaces; more open common areas for collaboration and team work; a marked preference for natural light; greater use of green… [More...]

2013 Economic Forecast: Watch for the Wild Card

2013 Economic Forecast: Watch for the Wildcard

As the end of 2012 nears, Nevada’s economy continues its gradual recovery, but the unemployment rate remains in the double digits and job creation is slow. What’s in store for the Silver State’s economy in 2013? Experts weighed in on their predictions for the coming year, which primarily are based on the performance of certain… [More...]

Young Executives: Nevada’s Future

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After finishing graduate school, Nevada resident, Adam Kramer, launched his own business, I Am America, which provided online video content for companies. Four years later, his wife landed an opportunity in Las Vegas, and the couple relocated to the city from Los Angeles. Kramer sold his business and found a job with the Las Vegas… [More...]

See You Next Year in Nevada! Corporate Meetings and Conventions

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In 2011, almost 40 million people visited Las Vegas. Of those visitors, nearly 5 million were attending conventions and corporate meetings. In 2011 alone there were 19,029 conventions held in Southern Nevada, according to the Las Vegas Convention and Visitors Authority (LVCVA). In total, Southern Nevada offers about 2.6 million-square-feet in convention and meeting space,… [More...]