Considering Your Retirement Goals Before Selling Your Business
The thought of retirement used to seem far in the future, and although you may be several years away from exiting or selling your firm, it’s never too soon to begin planning for your retirement. It’s also important to begin considering how you plan to fund your life...
What You Really Need to Know About Selling Your Business to a Third Party
Selling a company to a third party is an action business owners take for a multitude of different reasons. Sometimes, they've fallen out of love with the work itself and are not as engaged or fulfilled as they once were. In situations like this, the business may be...
What’s the Difference Between Growing Value and Growing Revenue?
You've devoted a significant portion of your life to working incredibly hard to build your business. Whether you're planning on retiring in the near future or simply want to sell to another entity and remain involved in a more limited capacity, having a plan in place...
Does Your Organization Use Business Valuations as a Proactive Asset?
Family-run businesses that rely on succession planning to maintain and augment wealth into perpetuity typically require business valuations on an annual or biannual basis. Tracking the various value points over generations provides critical insight into the past and...
Future Business Leaders Require Multi-Generational Leadership Skills
It would be an understatement to say that time is of the essence to develop the next generation of corporate leaders. With the average age of a CEO standing at just over 54 years old and with CFOs typically earning promotions around the age of 50, these mostly Baby...
Why Do Next Generation Leaders Need to Develop Emotional Intelligence Skills?
The foreman of a construction crew buys everyone coffee on Monday mornings. An art director in a marketing firm asks an employee on the graphic design team about their mother’s health. The CEO of a company stops by the IT office to wish a staff member a happy...
5 Family Business Challenges
Millions of Americans have a dream to one day own a business. They also have a soft spot for family owned businesses. Approximately 20% of U.S. small businesses are family owned. We visualize this entrepreneurship as what built this country and made it successful. As...
Preparing Your Successor for a Transition
We have discussed numerous aspects of succession planning on this blog in the past two years. It’s crucial for business owners to plan for their companies’ future years or even decades in advance if they want the best possible outcome for themselves, their families,...
The Importance of Good Corporate Governance
In recent years the public has become more disillusioned with institutions, including government, law enforcement, religious groups, civic organizations, the media, and business. The public’s cratering trust in the people who run these institutions has had a...
How Does the Generation Gap Affect Your Business Transition?
The generation gap is something that people have always talked about, the differences between the younger generations and the older ones. In previous blogs we have discussed some of the complications of transferring a business to the next generation. In this blog we...
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