Family roles

Family Roles and Responsibilites in Family-run Businesses

A backbone of the American economy is the family business. A family business, when run well and by family members who are dedicated to it and to the family’s mutual values and goals, can be a powerhouse of activity and success. Conversely, if family roles and responsibilities are not understood and communicated to all family…

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next generation

The Dangers of Transferring Your Business to the Next Generation

After building a successful business, many business owners decide that they want to transfer their ownership to the next generation – their children. Too often, those owners assume that a transfer to children will go smoothly and simply, requiring little more than informing their kids of the date they’ll be taking the reins. Owners who…

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ready for sale

Is Your Business Ready for Sale?

At Prometis Partners we always advise our clients to begin preparing for the sale of their businesses well in advance of when they want or need to put them on the market. The additional time will allow them to evaluate and fix any weaknesses their companies have so they will be as attractive to prospective…

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exit date

The Importance of Setting an Exit Date

According to surveys, up to 79% of business owners plan to exit their businesses within the next 10 years, with more than half saying they want to exit within the next five years. However, many business owners fall into the trap of the “rolling five-year exit plan,” in which owners constantly reset their exit dates…

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MiMfg Magazine

Prometis Partners Is Featured in MiMfg Magazine!

MiMfg Magazine featured Vincent Mastrovito in its February 2019 edition talking about the intersection of manufacturing and employment. “Manufacturing has kept Michigan from economic collapse during the toughest times and elevated it to a global leader during good times, but the relationship between a business and a community remains delicate. One facility closure can result…

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owner dependence

Owner Dependence: Is Your Business Overly Dependent on You?

Last month, when we discussed the concept of intellectual capital we asked the question: “What makes a business valuable to potential buyers?” This is the most important question for most business owners who are considering transitioning their companies. Their business is a very large financial asset. For many owners, it’s their biggest and most important…

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early stages of exit planning

Handling the Early Stages of Exit Planning

For business owners, the idea of exiting their businesses, which for many owners define their professional lives, can seem like a gigantic undertaking. They ask themselves, “How can I possibly do all of this? Where can I go for help, and what do I need to know?” These questions are perfectly normal to ask as…

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Intellectual capital

What is Intellectual Capital?

What makes a business valuable to potential buyers? What factors increase a business’s valuation? These questions are at the core of transitional planning. Tangible assets, the physical property the business owns, is only one factor of what makes a company valuable. This is not even the most important factor. Intellectual capital is the intangible value…

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January 2019 Newsletter – Intellectual Capital

Here’s what’s new from Prometis Partners: Our topic for the month of January 2019 has been intellectual capital – how business owners can understand it, why it matters, and how they can increase it in the intellectual capital of their own companies. What is Intellectual Capital? What makes a business valuable to potential buyers? What…

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