family conflict

Family Conflict in Exit Planning

Exit planning is a process that must be handled carefully in order to insure the best outcome for the business owner. When exit planning involves a transfer from one family member to another, there can be additional layers of complexity. This is especially true if any sort of family conflict is present either in the…

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results

Getting the Results You Want

When you begin to consider exiting your business, you may find the process somewhat overwhelming. This is normal. You may also decide that the professionals you are used to consulting about matters relating to your business aren’t of as much help when it comes to transitioning it to a buyer. This is also normal. A…

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transferable value

Exit Readiness: What Is Your Company’s Transferable Value?

What is your company’s value? This is a key question for any business owner who intends to sell his business at some point in the future. It may seem like there should be a simple answer to this question, but value is actually a complex issue. The value of the business to the owner can…

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two-pronged approach

Exit Planning Goals: a Two-Pronged Approach

Too often business owners do not begin exit planning far in advance of when they expect to transition their businesses. These owners miss out on the two-pronged approach to exit planning that can be helpful in multiple ways. When given enough time to work with clients, exit planning advisors can help them meet general exit…

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business attractiveness

Business Attractiveness: Preparing for a Sale in Advance

If you’re a business owner who has spent your time and energy building a company, it’s very likely you will want to sell that company eventually. This is an understandable and financially necessary goal for most owners. Selling a business is much more complex than selling a house, however, and there is far more at…

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value drivers

Increasing Business Value by Installing Value Drivers

The majority of business owners will attempt to gain financial security when they exit their businesses. They need that money to finance their future goals, whether that be retirement or another business venture. It’s far better when owners understand how important it is to grow that value far in advance of when they need to…

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compensation

Tie Compensation in Family Businesses to Market Value

Family businesses have many strengths, and there are definitely benefits to family members working in and for their family business. However, the relationships family members have with each other and non-family coworkers make this business type more complex both emotionally and financially. Combine this with the always sticky issue of compensation, and there will be…

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emotions

How Emotions Affect Your Business Exit

In general, business owners feel comfortable being owners. They know what they are doing, feel confident in their role, and enjoy what their jobs. They know they need to change their roles in their businesses eventually, but they may not be prepared for the transition that is coming. Many owners resist planning their exits from…

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Family Business Culture

Family Business Culture and Why It Matters

One of the ways that a family owned business – of any size – differs from other businesses is that the values and habits of that family tend to influence the business as a whole. The family business culture that pervades it affects the company’s mission, values, productivity, profit, community relations, and even employee morale.…

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family transfer

Family Transfer: It’s All about Balancing Goals

If you’re considering transferring your business ownership to another family member or members, you might be tempted to put your family’s wants over your own goals. While altruism is an admirable trait, in this kind of situation it can also cause more problems than it solves. You, your family members, and your business won’t be…

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