All successful business owners must eventually face a stark reality: One day, they will no longer run their business! If this idea makes you uneasy, you aren’t alone. Today, we’ll show you how preparing for a future you may not be ready for now can benefit you both today and when you are ready. Overcoming […]
It’s not uncommon to hear the phrase “Don’t take it personally” in terms of business decisions. But when you own a business, it’s difficult—if not impossible—to not take business decisions personally. After all, it’s likely that you, your family, and others you care about rely on your business to maintain or their lifestyles or their […]
As an Owner prepares to exit his/her business, one of the biggest things that he/she may neglect to do is enhance the value of their business— losing out on selling it for what it is worth. The value of a business can be increased in numerous ways— recurring revenue, customer satisfaction, books, and records— […]
Featured in the Business Observer on April 6th, 2022. The transition of business ownership from one generation to the next is a plan that typically crosses the mind of most owners of closely-held family businesses. While this may seem like a reasonably safe, natural option, especially if the transition is to the business owner’s child/children, […]
The strongest businesses often have written plans for how to address unexpected events and mitigate risk, known as business continuity instructions. Their owners ask questions like, “What happens if a co-owner or I die?”, “How do we protect key employees from competitors?”, and “How do we address interruptions in our supply chain?” Here are three […]
Successful businesses require many types of employees to succeed. But it’s vital to know which employees are key employees, which are important employees, and how to properly motivate the latter group. Today, we’ll share a process to help you motivate important employees who aren’t key employees. Key Employees vs. Important Employees You likely have more […]
Selling a business is complicated. A lot of factors go into a buyer’s decision-making process— two critical factors being solid financials and defensible EBITDA. What is EBITDA, and how can it affect a successful sale? In most instances, buyers derive their value based on a multiple of the company’s earnings before interest, taxes, depreciation, […]
St. Petersburgh, Florida, March 11, 2022— Aberdeen Advisors, Inc. promotes Wendy Andrews-Fine to President. Wendy, previously Vice President of Aberdeen Advisors, will take on the title of President. She will be responsible for co-managing the business alongside CEO Emery Ellinger while remaining actively engaged assisting clients successfully sell their businesses. In her position as Vice […]
E pluribus unum—out of many, one—is a concept that runs deeply in the blood of many people, especially successful business owners. You likely expect that your co-owners, advisors, and employees all work toward a common goal of business success. However, when it comes time for the business to run without you—by your choice, death, or […]
A longstanding credo for successful business planning is to make specific goals. However, there is such a thing as being overly specific in your goals to the detriment of other things that matter to you. Let’s look at how adding fuzziness to specific goals can make your business planning strategies more fulfilling. Analytics vs. Eye […]
