There are business aggregators around who are trying to buy up undervalued businesses, for cents on the dollar and then their strategy is to slash and burn, in order to cut costs, “turnaround” the company and then sell it. Beware. These aggregators were more prevalent in 2006-2008 and have since reduced their activity with the […]
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Take the time to remember our family members living. Why do I suggest this? I attended a funeral recently. It was a sad occasion for family and friends of the deceased. I left the memorial service with regrets and a heavy heart because I knew this person well but with our busy lives, did not […]
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We have outlined many pre-planning concepts for your succession plan. All this planning is just that planning. At some point, you have to move from planning to execution. The goal of all of this work is to find a way for an orderly succession of your business from you to your successors. What will that […]
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In my experience, a smooth and successful succession and transition of a business can take 10 years….or more. You may say, that is such a long time. You have to keep in mind that for most businesses, the day to day requirements and obligations in a business leave little time for the planning. In order to […]
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Communication. A pillar and necessary part of the succession planning process. The plan can best be developed with input from your interested parties. A cliche, well trodden, “A man/woman is not an island unto himself/herself.” You may be entering territory that is uncomfortable for you because you had done much of the operating and growing […]
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