Some key agreements to consider as an essential part of your succession plan. These are not all inclusive and we will further elaborate on them in later posts. 1. Shareholders’ agreement, including buy sell and addressing the 3D’s (death, divorce, disability) 2. Family employment and compensation agreement 3. Voting agreement 4. Dividend policy 5. Insurance, […]
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We all are busy. Are you taking care of yourself? This post pandemic and seemingly exhausting...
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In a prior blog post, I outlined the three circle model. Today, I will describe this model in the context of family employment. Many a family business has become fiscally challenged as the number of family members relying on compensation from the business grew (in successive generations) and the expectation – entitlement for compensation, regardless […]
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Some points and issues for consideration that could facilitate the succession of your business. You could use list this as a regular check up tool to assess the general health of your business: 1. have you identified the company’s key performance indicators (KPI’s), http://successinsuccession.wordpress.com/2011/03/13/succession-key-performance-indicators/ 2. what are the benchmarks for your KPI’s 3. have you identified […]
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You the entrepreneur have always run most, if not all aspects of the business. However, you do seek outside help and input when you do not know a specific area of your business…such as having a tax expert help you in filing your company’s tax returns. Many entrepreneurs think they fully understand succession and how […]
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