Challenges Transferring the Business to the Next Generation

We have recently talked about the benefits of succession planning and how, when properly implemented, it can help to grow business value. There can be succession planning challenges in family businesses, however, especially when the assumptions that the various family members make do not match necessary skill sets or individuals’ wants or needs. Here we…

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Building Business Value through Succession Planning

A solid glimpse of the future – who doesn’t want that? Many would pay a great price to be able to see what lies in store. One way that business owners can predict the future of their companies is by building business value through succession planning. When properly implemented, succession planning allows companies to shape…

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Prometis Partners Owner’s Fireside Chat: Managing Culture After Sale of Business

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The Benefits of Succession Planning

Planning and structuring changes in leadership is one key way successful businesses differentiate themselves from the herd and outperform their competitors. There are many present and future benefits involved in succession planning, and all of them address inherent business weaknesses, making companies both more productive and more resilient over time. What Is Succession Planning? Succession…

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Executing Your SWOT to Build Value

When you conduct a SWOT analysis of your business, it functions as a diagnosis of its health and capabilities at that moment in time. It’s a useful tool to help determine what the company is capable of relative to the goals you may have for the present and future. Performing the analysis is only step…

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Why Your Company Should Conduct a SWOT Analysis

If your company has been in business for some time and you are not seeing the growth and improvement you would like, we recommend conducting a SWOT analysis of your company as a whole. This is a great exercise for evaluation because it will reveal both the good and the bad and will give you…

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How to Leverage Remote Work for Your Business

In our last piece we talked about the challenges of remote work for employers. The good news is that there are many benefits to offering your employees the option of working remotely. It just takes time and some management flexibility to figure out ways to leverage remote work and make it work for your business….

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The Challenges of Remote Work for Employers

Companies have offered workers the chance to work remotely for many years, but only under specific circumstances. During the COVID-19 pandemic, remote work became the only way many businesses could continue to operate, so they did their best to adjust to it in the short term. For that brief period, 71% of workers were working…

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Having and Maintaining Proper Legal Documents

Whether you are launching a new business, growing an existing one, or planning your exit strategy, creating and maintaining certain legal documents is essential to any good outcome. Here we will examine some of the legal documents your business must have and explain their importance. Essential Legal Documents Certain documents are essential to operate your…

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The Importance of Having a Business Attorney

We live in a litigious society. For business owners, this means that being proactive about legal matters by hiring or retaining a lawyer is smart practice. Here we will discuss the importance of having a business attorney for issues that you may face with your company. As the saying goes: It’s better to be safe…

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