The long-term success of your business will be greatly impacted by your ability to recruit and retain the next generation of business managers/owners to your company. The majority of closely held business owners are baby boomers between the ages of 50 and 70. The total baby-boom...
One of the four business exit planning cornerstones, Contingency Planning has to answer the question “How will the business succeed if something suddenly happened to the Owner and that Owner does not return to the business tomorrow?” It is nice to have a long term...
One of the goals of Succession/Exit Planning is for an Owner to become emotionally independent from their business. There is an emotional, powerful connection that an Owner has to their business, a business which they created & have built over their lives. Thinking that this...
As a business owner, take the time now to say thank you to your key employee(s). By sharing success with your key employees, you are saying you care, you want to retain their talent and you are showing you are confident in their abilities. Begin...
Why are Business Owners staying longer? Seems like a simple question, but in reality it is more complicated than one would think. Most business owners simply don’t want to leave their business. Many do not have enough money saved to live financially independent of their...