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Family and starting the succession discussion – your spouse, my weekly perspective

This may sound somewhat “preachey”. However, you must at some point in time, share the intimate secrets of our business with the most important person in your life, your life partner and your spouse.  Not all of us are married, … Continue reading

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How much to “sell” of the business? – my weekly perspective

A question faced by many business owners, once the owner has decided to begin succession and possibly sell all or a part of a business, is how much to sell of the business? This is not a question to be … Continue reading

Trust and respect – my weekly persective

Trust and respect.  These are earned and not things that are inherited. There are two edges to this sword.  Children should not be entitled to “own” and operate a business, just because they were born to the right family.  The … Continue reading

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Have you thought of these essential documents, best practices…? – my weekly perspective

As we end the year, this is a time for reflection and planning for the coming year. With some of the families with whom I work, often they try to address some of the more complicated aspects of succession (governance, … Continue reading

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Children working in the business? – my weekly perspective

If your business hires entry level employees, this environment may present a great opportunity for your children to learn about the family business from the ground up.  Only then, can they appreciate the challenges, breakthroughs and corporate goals and objectives … Continue reading

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Succession – Back to communication, my weekly perspective

I am currently working with a family on a succession plan.  One ingredient was missing in our plan, which, after much investigation turned out to be open communication. We have gotten through the technical aspects related to the succession plan. … Continue reading