Vincent Mastrovito of Prometis Partners shares great tips about how you can create and maintain a successful family business culture.

Vince discusses a variety of reasons someone may stay at the helm of their business longer than they should. He discusses some of the things that may sneak up on the business owner if they aren’t diligent enough and decrease the business value when they do decide to exit. The retirement you dream of depends…

In this podcast Vincent talks about how owner dependency affects a business’s valuation and salability in a very negative way. Almost 89% of businesses are still reliant on the business owner to operate, according to the U.S. Census. This means that the vast majority of owners who would want to sell their businesses have real…

In this podcast Vincent talks about how expectations factor into creating or managing conflict in family owned businesses. Many first generation business owners built their companies by leveraging everything they had and working very long hours for years before they made a profit. What the company means to an owner who has done this will…

In this podcast Vincent talks about how devastating it can be to a sale if the company does not have management and key staff committed to remaining with the company through and after a transition. This is a core component of exit readiness. Buyers are looking for businesses that will be profitable from the day…

July 2019 In this podcast Vincent talks about how owners can make their companies more attractive and salable, highlighting the three factors he considers to be most important. Currently the #1 reason owners exit their businesses is retirement, and the average owner has 60-90% of his net worth wrapped up in his business. For those…

June 2019 Why should you tie family compensation to market value? In this podcast Vincent talks about family compensation and why it’s important not to let “family values” overly influence how family members are compensated. He discusses using benchmarking tools such salary.com to determine what people are worth according to market value and should therefore…

February 2019 How well do you know and understand your family’s business culture? In this podcast Vincent talks about how important it is to work with families to understand the business culture at work in their companies. Many owners may be better off financially transitioning their companies to children or other family members than they…

Vince Mastrovito once again shares valuable insights for closely held business owners.

Vince Mastrovito shares another 20 minutes of wisdom, this time about how to prepare successors for future ownership and leadership.