How Understanding Your Family Business Culture Helps Ease Ownership Transitions

When it comes to your family business, culture plays a critical role. The business’s values, habits, and structure significantly shape its productivity, decision-making, profitability, and community impact. The complex culture that undermines your company can have a major impact, good or bad, on what happens when it’s time to sell your firm or transition ownership…

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Are You Running an Owner-Dependent Business?

Owner dependence has a considerable impact on a business and the potential sale process. This impact comes into play when it’s time to assess valuations and taking the business to market.  Buyers, as well as communities and customers, will want to know about the roles of existing owners. If you’re a business owner and expecting…

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Long-Term Perspective is Key to Family Business Success

Why are family businesses viewed to be more trusted, able to weather the ups and downs of volatile markets, and better positioned for long-term success? What makes them so valuable when it comes to discussions of family business succession and leadership transition planning? There’s no one answer. Instead, successful family businesses often rely on a…

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Growing Your Business with an Eye on the Future

Your business means everything to you — you’ve worked hard to grow and nurture relationships with vendors and clients alike. As you consider what your retirement plan entails, or what the future of your business looks like without you in the mix, you are now faced with the challenge of implementing a solid plan to…

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Preparing Employees for the Future Sale of Your Business

Every employee plays a key role in keeping your business running successfully. When you are considering selling your business, one of the smartest moves you can make is preparing and keeping employees actively involved in the company even when you are no longer in charge. When potential buyers are looking at each aspect of your…

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Considering Your Retirement Goals Before Selling Your Business

The thought of retirement used to seem far in the future, and although you may be several years away from exiting or selling your firm, it’s never too soon to begin planning for your retirement. It’s also important to begin considering how you plan to fund your life after selling your business. The first step…

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What You Really Need to Know About Selling Your Business to a Third Party

Selling a company to a third party is an action business owners take for a multitude of different reasons. Sometimes, they’ve fallen out of love with the work itself and are not as engaged or fulfilled as they once were. In situations like this, the business may be more successful in someone else’s hands. Other…

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What’s the Difference Between Growing Value and Growing Revenue?

You’ve devoted a significant portion of your life to working incredibly hard to build your business. Whether you’re planning on retiring in the near future or simply want to sell to another entity and remain involved in a more limited capacity, having a plan in place sooner rather than later is one of the best…

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Does Your Organization Use Business Valuations as a Proactive Asset?

Family-run businesses that rely on succession planning to maintain and augment wealth into perpetuity typically require business valuations on an annual or biannual basis. Tracking the various value points over generations provides critical insight into the past and present. It also allows industry leaders to make informed decisions about future business strategies. A business valuation…

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Future Business Leaders Require Multi-Generational Leadership Skills

It would be an understatement to say that time is of the essence to develop the next generation of corporate leaders. With the average age of a CEO standing at just over 54 years old and with CFOs typically earning promotions around the age of 50, these mostly Baby Boomer leaders are growing increasingly close to retirement…

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