Retaining your company’s key employees is one of the most important steps toward your business’ success. Key employees can reduce your workload, noticeably improve company performance and operations, and act as the backbone of a successful business sale in the future. So, how can you keep these employees on board and engaged as you work […]
When you die, how much money do you want to have to pay lawyers to wrangle the complications of your estate? How about the IRS—how much of your life’s work would you like to hand over to them? And if given the choice, would you prefer a smooth and responsible transfer of wealth to your […]
When you set your business up for future success, you can set yourself, your family, and your personal interests up for similar success. But a common problem owners overlook is how to address Deal Killers, which can prevent you and your company from achieving the success you want. Today, we’ll examine eight common Deal Killers […]
Whether the keys were once passed to you or you forged your own, the transition of ownership from one generation to the next is a plan that crosses the mind of most family business owners. With family businesses, although succession planning can be especially complicated because of the relationships and emotions involved, it is imperative. […]
Preparing your business for a successful future often goes hand in hand with preparing your business for a successful sale. No matter whom you sell to—and even if you believe you’ll never sell your business—you should focus on catching Deal Killers. Deal Killers are things that can affect your business’ value and future. Let’s look […]
Setting goals is a catalyst for success, especially if you’re planning for the future of your ownership and the success of your business. The strongest goals tend to have five aspects that help you guide the process for achieving them. In other words, when you set goals, you want to set SMART goals: Specific Measurable […]
Successful business owners often want more than just the maximum amount of money they can get. These owners have deeply ingrained values-based goals that guide why and how they do business. But many of those same owners don’t apply an appropriate amount of weight to values-based goals until it’s too late to achieve them. Some […]
When the time comes to sell your business, one of the most important things to consider is how the buyer can affect the sale – and your future. Many business owners have a key employee who expresses interest in purchasing the company. While this option may seem the simplest and least complicated, it can actually […]
It is safe to say that this year was full of surprises. Some businesses thrived, while in other areas jobs were lost, companies were forced to go under, and we even lost loved ones along the way. Many businesses were affected by the pandemic in some way or another. According to a survey conducted by […]
Selling a business is a process, not an event or a single transaction. The reality is only about 25 percent of listed businesses for sale are actually sold. This process is a proven methodology to ensure you will achieve a successful business transition at maximum possible value. The four-stage process is as follows: Stage 1: […]
