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Business Succession Planning Newsletters by Vincent Mastrovito

Vincent has written on a wide variety of topics related to exit planning and how it affects the professional, the financial, and the personal life of business owners and their families. Click on each newsletter to read.

June 2020 Newsletter – Business Expenses, Retaining Staff, and Getting Creative in a Recession

In June 2020 we have been focusing on the need to carefully examine business expenses, especially for companies that are struggling financially. When the economy is robust and companies are growing, owners worry less about what exactly they are spending money on. When the economy is in recession or a unique event like COVID-19 occurs, companies go into survival mode. That’s when they need to determine what expenses count as essential and what can be pared back or eliminated to save money and keep the business going. This kind of examination helps triage in the short term and creates growth in the long run.
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May 2020 Newsletter – Financial Planning

Our topic for May 2020 has been the need for financial planning. Creating a financial plan is a crucial part of building business value and pursuing growth in the present as well as successfully transitioning to new leadership and ownership farther down the line. It may take an investment of time and effort, but it will make all the difference in your eventual outcome.
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April 2020 Newsletter – Creating Family Alignment

Our topic for April 2020 has been creating family alignment. Many problems that family businesses confront may seem to business owners like isolated issues but really stem from a lack of alignment between family members. When they correct the alignment problems, the entire business runs more smoothly. If you’re wondering how it’s possible to create better family alignment, read on.
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March 2020 Newsletter – What are the Most Important CFO Responsibilities and Challenges?

Our topic for March 2020 has been a discussion of the duties of a chief financial officer. Many smaller companies do not have a CFO on staff to advise them about day-to-day operations and financial strategy. If you wonder if your company needs a full-time or part-time CFO or how retaining one might affect its growth and stability, read on.
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February 2020 Newsletter – Why Do Owners Stay Too Long?

Our topic for February 2020 has been a discussion of why business owners stay in their companies long past the time it would be best for them to exit. Too many owners are not prepared to exit their businesses, and many haven’t even given it serious consideration. Why not?
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January 2020 Newsletter – Business Processes and Systems

Our topic for January 2020 has been business processes and systems. We have gone over what each of these are, why they are useful for increasing productivity and profitability, and why implementing processes and systems is valuable in terms of exit planning.
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December 2019 Newsletter – The Necessity of Boards

Our topic for December 2019 has been the need for businesses to have a board of directors or a board of advisors in order to keep the owner or owners accountable and provide the wisdom and support the company needs to thrive.
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November 2019 Newsletter – Business Valuations

Our topic for November 2019 has been the need for businesses to have a current and accurate business valuation done. The first step involved in exit planning is committing to the exit planning process, but the second is having a business evaluation performed. This allows the owner to make informed decisions on every aspect of his business moving forward.
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October 2019 Newsletter – Buy-Sell Agreements

Our topic for October 2019 has been buy-sell agreements. We’ve discussed what buy-sell agreements are and why having a well drafted, comprehensive, up-to-date buy-sell agreement will protect both a company and its owners from risk during a trigger event such as the retirement or the death of an owner.
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September 2019 Newsletter – Family Conflict

Our topic for September 2019 has been family conflict. We’ve talked about why conflicts between family members in a family business are so complex. We’ve examined the spectrum of conflicts within a company, ranging from mild disagreement to outright war. We also emphasized how important it is to resolve conflicts earlier rather than later to avoid damaging the company and family relationships beyond repair.
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August 2019 Newsletter – Building Transferable Value

Our topic for August 2019 has been building transferable value as it relates to exit readiness. We’ve focused on how owners can and should differentiate between the value their businesses have to them personally and the value that they would have to buyers when put up for sale.
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July 2019 Newsletter – Business Attractiveness

Our topic for July 2019 has been business attractiveness, focusing on how companies can install value drivers in order to strengthen their companies, build cash flow, and attract more buyers at sale time.
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June 2019 Newsletter – Family Compensation

Our topic for June 2019 has been family compensation, specifically why choosing to pay family members according to their market value is better both for the family business and its family and non-family workers
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May 2019 Newsletter – Family Business Culture

Our topic for May 2019 has been understanding the different kinds of family business cultures and how culture affects how companies operate and transition to the next generation or into new ownership.
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April 2019 Newsletter – Family Roles and Responsibilities

Here’s what’s new from Prometis Partners: Our topic for the month of April  2019 has been understanding family roles and responsibilities. Establishing these roles affects both how successfully your business runs now and how easy it will be to transition to the next generation. Family Roles and Responsibilities A backbone of the American economy is…
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March 2019 Newsletter – Is Your Business Ready for Sale?

Here’s what’s new from Prometis Partners: Our topic for the month of March 2019 has been determining if your company is ready for sale. This is the burning question all business owners want to know the answer to. Is Your Business Ready for Sale? The question is straightforward. Unfortunately, we can’t give as direct an…
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February 2019 Newsletter – Owner Dependence

Here’s what’s new from Prometis Partners: Our topic for the month of February has been owner dependency – how business owners can determine whether their businesses are too dependent on their skills and presence and how they can address this problem before it’s too late. What Is Owner Dependence? To begin with owner dependence is…
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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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Vincent Mastrovito named EPI 2019 Member Award Recipient.

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