Succession & Transition Planning
June 22, 2020
Confidence is everything. When JFK announced in May 1961 that the US would go to the moon within ten years, he exuded confidence. And the nation rallied to make it happen. When Churchill said, “… we shall never surrender!” he betrayed no lack o...
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May 22, 2020
“People are our greatest asset.”
We’ve all heard it. Many companies proclaim it. You may even have said it yourself; but do your actions, comments, policies and payroll reflect that sentiment?
When it’s time to sell your company, the qu...
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April 20, 2020
Exceptional results often have their genesis in little decisions and small actions. Suppose that five years ago you had decided to prepare your business for sale, starting the ball rolling by meeting with your professional advisors. That initial deci...
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March 20, 2020
In his book, The Five Dysfunctions of a Team, Patrick Lencioni lists the absence of trust as the foundation for all the other dysfunctions. What causes a lack of trust? Although there are multiple reasons, lack of transparency is a key factor.
I k...
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February 24, 2020
Expect to encounter resistance as you consider transitioning your business, whether you are preparing to sell, or set it up in a way that works better for you in the future. It will be like running into the wind as new pressures, issues, and emotions...
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January 28, 2020
Why do you want to sell your business?
A business owner I interviewed for The Business Transition Crisis shared that the day he saw the money in his bank account from the sale of his business was the happiest of his life. Unfortunately, it went down...
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December 19, 2019
Business succession can be a stressful process.
While some stress can be positive in the short-term, chronic negative stress leads to burnout and irreparable damage to our bodies. You will want to take steps to avoid and minimize the impact of d...
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November 25, 2019
Your business has a culture: good, bad or indifferent, it’s there. To you and your seasoned employees, it’s probably invisible. But it’s apparent to new employees or any prospective purchasers of your business. You and your management team may ...
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October 18, 2019
What will you do after you transition away from your business? That’s the big question for many entrepreneurs. For most employed individuals, who have ‘normal’ work lives, the answer is easier: outside of work, they have sports, hobbies, family...
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September 23, 2019
I have an important question: If you don’t plan and lead the transition of your business who will?
I’ve been beating this drum for several years and sometimes it feels futile. The statistics and the reality of your image in the mirror should...
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