Blog Library

Business Owners are Leaving Money on the Table by Not Increasing Business Value. Are You?

Posted by Jane Johnson on Mon, Nov, 20, 2017 @ 12:01 PM

A recent study shows that many Canadian small and mid-sized business owners who plan to leave their businesses within the next five years are not making the best moves to realize the highest possible return. The Coming Wave of Business Transitions in Canada report put out by the Business Development Bank of Canada (BDC) in conjunction with Nielsen asked over 2,500 Canadian business owners about their succession plans, and it found that of the owners who plan to leave their companies within the next few years:

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Topics: Maximizing Business Value, Business ownership transition plan, increasing business value, increasing business value before selling

4 Business Transition Takeaways from Tom Brady’s TB12 Regimen

Posted by Jane Johnson on Tue, Nov, 07, 2017 @ 10:43 AM

Whether you love him or hate him, you have to admit that Tom Brady is pretty impressive. Winning records aside – his career longevity and commitment to his craft are something to be admired. In September, he added a new title to his name: health and fitness author.

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Topics: Free Business Transition Resources, Tom Brady, TB12, TB12 Method

Are You Prepared for the Worst?

Posted by Jane Johnson on Tue, Oct, 17, 2017 @ 04:02 PM

“Why should we look to the past in order to prepare for the future? Because there is nowhere else to look.” ― James Burke

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Topics: disaster planning, preparing for a disaster, business preparedness, is your business prepared, preparing your business for disaster, are you prepared for the worst

Back to School, Back to Business (Transition Planning)

Posted by Jane Johnson on Mon, Sep, 25, 2017 @ 03:19 PM

Four important lessons on what you need to do before you think about selling your business

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Topics: Selling Your Business Internally, Selling Your Business Externally, getting the best deal when selling your business, Back to School, Busines Transition Planning, Thinking about selling my business, Business owner education, baby boomer business owner

As a Business Owner, What Will Your Retirement Look Like?

Posted by Jane Johnson on Wed, Aug, 30, 2017 @ 01:01 PM

“In the end, it’s not the years in your life that count. It’s the life in your years.” ~ Abraham Lincoln

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Topics: business transition, business owner retirement, planning retirement, business owner planning retirement

Beyond the Great Unknown: Overcoming Fears about Transition Planning and Retirement

Posted by Jane Johnson on Thu, Jul, 20, 2017 @ 03:02 PM

In a recent post Baby-Boomer Business Owners Are Still Not Planning, we talked about some of the reasons why business owners aren't planning for their eventual transitions and retirement, including the complicated emotional issues that emerge around finality, mortality - and a loss of one's sense of self and purpose. 

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Topics: business transition planning, business owner retirement, planning for retirement, business owner fear

Baby-Boomer Business Owners Are Still Not Planning

Posted by Jane Johnson on Tue, Jun, 20, 2017 @ 02:03 PM

When you consider that the majority of business owners are baby-boomers, it's surprising that only around 40% of them have a business transition plan in place, according to a recent report from RBC Wealth Management Services

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Topics: baby boomer businesses, estate planning, succession planning, business transition planning, baby boomer business owners, business transition plan

Understanding the Critical Components of a Succession Plan

Posted by Jane Johnson on Mon, May, 29, 2017 @ 05:21 PM

Succession planning involves replacing the current owner in the business using a well-planned transition, so that the business can successfully operate without interruption, regardless of the owner’s continued involvement. This will require a capable and engaged successor and management team who have been sufficiently groomed and mentored, and who are responsible for the overall operation of the business. All of this requires ample time, effort, and tools to develop necessary talent.

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Topics: succession planning, choosing a successor, Grooming a successor, family business successors, succession plan

Choosing and Grooming the Most Qualified Successor for Your Business

Posted by Jane Johnson on Mon, May, 15, 2017 @ 11:04 AM

Ownership transition is the process of transferring the legal ownership of a business from the current owner to the new owner(s). Business succession is the process of transferring leadership from the current CEO to a family member or key employee. Choosing the right successor is probably the most important decision for any internal transition since the company’s future viability and a current owner’s future payments are dependent on the new leader. Let’s look at some of the most important things an owner will need to consider as they look to transition the business internally and begin grooming a successor.

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Topics: succession planning, Grooming a successor, leadership development, leadership training

Successfully Transitioning Your Business to an Internal Buyer

Posted by Jane Johnson on Tue, May, 02, 2017 @ 01:13 PM

Most business owners have the goal that they’ll sell their business one day to a third party for its full value to fund their retirement, but the reality is that very few businesses that go to market actually sell. According to BizBuySell’s recent national report, only one in every five businesses listed for sale actually sold in 2016. While this may sound rather dismal, there are other options for owners. In fact, approximately two-thirds of the business owners we work with choose to transition their businesses internally.

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Topics: succession planning, succession, choosing a successor, Grooming a successor, family business successors