Blog Library

The Keys to Effective Succession in Family Businesses

Posted by Kathy Richardson-Mauro on Thu, Jun, 18, 2015 @ 10:00 AM

“Family businesses and their leaders are the ultimate entrepreneurs. They must continually innovate to grow and pass on a thriving business from one generation to the next. Our survey demonstrates how this entrepreneurial thinking across generations results in business success and strong family ties.” ~Carrie Hall, EY Americas Family Business Leader

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Topics: family business planning, family business, business owner transition, business ownership, baby boomers, Family Business Exit, Family Business Transfer, business ownership transition, successsion

The Necessity of Saving Outside Your Business

Posted by Jane Johnson on Tue, Jun, 16, 2015 @ 10:00 AM

Richard was 64 years young and the CEO of a $10 million manufacturing company when we met him. He had been in business for over 30 years and he was confident that he could keep his customers happy and content even though his products were more expensive than those offered by his competition. As a result, he did not focus on keeping his raw material costs low or hire anyone to focus on marketing to attract new customers.

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Topics: External Transfers, business owner transition, business ownership, exit your business, exit strategy plan, business owner, business ownership transition

Business Transition Lessons Learned: Making Sure Your Successor Wants to Take Over the Business

Posted by Kathy Richardson-Mauro on Thu, Jun, 04, 2015 @ 11:12 AM

Bob owned and operated a profitable printing business for over 30 years. His son Jason was active in the business as the VP of sales and Bob had been grooming him to take over the company since he came on board about 3 years ago. Unfortunately Bob never really spoke to Jason about officially taking over and when Bob told him he intended to retire the following  year due to health issues, Jason surprised him with a  bombshell; he had no interest in taking over the company. He had only worked there to help his Dad out. In fact, he really didn’t enjoy the industry much and would be looking for a job elsewhere once his Dad retired.

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Topics: business owner transition, business ownership, business transition, business ownership transition

Control—Deception, Trap, or Necessity?

Posted by Jane Johnson on Thu, May, 21, 2015 @ 10:00 AM

Control as Deception

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Topics: Business Ownership Transition Planning, business ownership, business transition, business ownership transition, business transition planning

Exploring Your Business Transition Options

Posted by Kathy Richardson-Mauro on Tue, May, 19, 2015 @ 10:00 AM

If you are considering selling your business, you need to consider your financial as well as non-financial goals including:

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Topics: business owner transition, business ownership, business transition, business ownership transition

Recurring Revenue – A Key Strategy to Boost Business Value

Posted by Kathy Richardson-Mauro on Tue, Apr, 14, 2015 @ 10:05 AM

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Topics: Business Ownership Transition Planning, business ownership, business planning, business transition, recurring revenue

Develop a Contingency Plan - Ensure That Your Business Can Go On Without You

Posted by Jane Johnson on Thu, Mar, 26, 2015 @ 10:00 AM

Have you developed a contingency plan for your business in case you die or become disabled? This is critically important. How many families and incomes would be affected if something happened to you tomorrow? How would your business function without you? Is there a written and realistic plan in place so that your management team and family could keep the business prospering?

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Topics: Business Ownership Transition Planning, business owner transition, business ownership, baby boomer businesses, business owner, contingency plan

Planning On an Internal Business Transition? 5 Reasons Why You Still Need an Advisor

Posted by Jane Johnson on Tue, Feb, 03, 2015 @ 03:30 PM

Family business owners often think the internal transfer process will be an easy one and the pieces will just fall into place but usually find out quickly this is not the case. Working with an advisor who is uniquely trained in business ownership transfers can help guide you through the process of developing and implementing a successful internal transition plan. An advisor can help you to:

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Topics: Internal Transfers, Business Ownership Transition Planning, business ownership, business planning, business owner

Top 3 Reasons Why Business Owners Don't Do Transition Planning

Posted by Kathy Richardson-Mauro on Tue, Dec, 09, 2014 @ 10:00 AM

It's one of those subjects that many business owners would prefer not to think about: Business Transition Planning. If you talk to small business owners, many of them would probably say that they aren't planning on retiring because they need the income it provides them or they just enjoy working.

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Topics: Business Ownership Transition Planning, business ownership, transition planning

What Every Business Owner Needs to Know, Free Webinar

Posted by Jane Johnson on Tue, Jun, 10, 2014 @ 03:30 PM

Creating Your Own Business Ownership Transition Plan - June 23, 2014

As a business owner, do you have a plan for how you will leave your business? Are you facing major business decisions, but not sure where to start? Join the Business Transition Academy for this free, informational webinar on June 23, 2014 from 3 PM to 4 PM EDT to learn more about our 2-day workshop for Business Owners.

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Topics: business owner transition, business ownership, business planning, Business Transition Academy, Cashing out of your business: Your Last Great Deal, exit your business, free webinar, Jane Johnson, Kathleen Richardson-Mauro, sell your business, successful ownership transition, what every business owner needs to know