Succession & Transition Planning
February 26, 2019
Who are you competing against when you want to sell your business? Most certainly, similar businesses in your industry and other companies selling the same service or products. But, consider that your biggest competitors might be entirely different:
...
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January 21, 2019
What are your expectations for 2019? Your employees’ expectations? Are they aligned? If not, it will be like driving a wagon with one horse pulling in a different direction from the others. It doesn't work very well.
Suppose you expect to guid...
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December 17, 2018
Making succession fun? That’s a little like trying to convince you that going to the dentist will be fun. Necessary, prudent, sensible and probably life enhancing... but can it actually be fun?
Yes. Here are five ways to ensure your succession p...
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November 27, 2018
Millennials, those born between 1982 and 2000, represent the largest demographic in the history of the world. If we thought the baby boomers had an impact on the world based on their numbers, we haven’t seen anything yet. Many boomers about to ex...
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October 23, 2018
Entrepreneurs are always in sales. If you started the company, you were its number one salesperson. As it grew you became the sales manager – if not in title, at least in responsibility. You know sales. You know the importance of building trust; ...
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September 21, 2018
Are there some decisions you may be contemplating or worrying about when you should be sleeping?
Slow down or jump back in with both feet?
Sell the business or close the doors?
Sell to a third party or to your children?
Retire now or in...
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August 14, 2018
It’s 8 am, Monday morning. Your adult child comes into your office with a couple cups of coffee, passes you one and sits down.
“Dad, (or Mom) it’s time we had a frank discussion about succession. I’ve been working here for the past ten yea...
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June 22, 2018
Fred was in his seventies when he talked to me about transitioning his business to his son. It wasn't a big business, just a few employees, but it was very profitable. He had a strong customer base and a dependable supplier group that enabled him to ...
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May 22, 2018
What is the impact that different generations have on business succession? The Family Firm Institute found that 88% of current family business owners believe the same family or families will control their business in five years. Succession statistic...
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April 20, 2018
I don’t know why so many people are uncomfortable with silence. They feel a deep-seated need to fill any gap in the conversation, even if their comments aren’t well considered or useful. They can’t seem to help themselves if the other person is...
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