Can your business survive without you? If you had to take several months off unexpectedly, would you have a business to come back to? If your answer to these questions is no, your business is dependent on you. If you do not make changes to make your company stronger and more independent of you, this…

Trends in leadership have changed dramatically over time. While previous generations of leaders often used a top-down, hierarchical approach to leadership, many of today’s business owners see downsides to this. Collaborative leadership is a leadership style that many are exploring because it features a number of distinct advantages. What is collaborative leadership, and how does…

The family-owned business has been a mainstay of the American economy since the country’s beginning, and it has many inherent advantages. For every strength a family business has, there are corresponding weaknesses, however. When it’s time to transition the business, these weaknesses can become real barriers to success. Sometimes companies decide to bring in new…

Every organization has to have some structure of accountability in place to succeed, but this can be one of the most challenging processes to implement. Too many people associate accountability with shame, judgment, or consequences and will hide their mistakes instead of admit and corr ect them. Even more damaging for a company is when…

Do you spend too much of your time in meetings? Are your team meetings repetitive and unproductive? You are not alone. Over the past half century the time business executives spend in weekly meetings has more than doubled. What’s more, many employees consider team meetings a complete waste of time. However, a well-run meeting can…

It’s no secret that companies are having a challenging time right now recruiting and retaining good employees. This seems to be a lingering hangover of the COVID-19 pandemic combined with the Baby Boomer generation retiring in large numbers at this moment in time. If your company is also finding it hard to keep good skilled…

If you have a business and you plan to leave it at some point in your lifetime, you need to plan your exit strategy early on. Even if you plan to retire or leave it decades into the future, what you do now will set you and your business up for long-term success and avoid…

Every day almost 10,000 Baby Boomers reach retirement age and will continue to do so until the last of them turn 65 in 2031. Not every Boomer wants to retire at 65, but the pace of retirement is accelerating. Unfortunately, many Baby Boomer business owners have not been preparing to transition their businesses. Some of…

There are many moving parts involved in the successful sale of a business, but determining how exactly the business will be paid for is a crucial – and challenging – one. Seller financing has become a popular option in recent years. About 50-90% of small to mid-sized business sales involve seller financing today. Let’s go…

Previously we discussed the importance of onboarding. Today many companies are struggling to find and retain good workers. An effective onboarding program makes a crucial difference in their first impression of their new workplace. If you have not already established a dedicated program to introduce and acclimate your staff to your company and its culture,…