Month: October 2020

Business owners have a lot of information at their fingertips. There are calculators and assessments available for just about every aspect of your business and personal situation. As a result, many business owners think they have an accurate idea about the value of their business. They may even think they have an idea of where

One of the most important elements of a successful business transition is transferable value. No matter what an owner sees for the future of the business, transferable value can be the common denominator that makes all goals more achievable. What is Transferable Value Transferable value, for a closely-held business, is most simply what a business

When we start any important project, it is common to choose to plan in phases. Sometimes we choose to plan in phases because there is a certain aspect of the project that we consider to be more urgent than others. Maybe it can be overwhelming to try to focus on the big picture. Regardless of

While there are many uncertainties when planning for the future, one factor that is almost always essential to the success of your future plans is cash flow. Measuring your company’s cash flow and knowing what aspects of your business can be affected by the health of your cash flow are even more crucial in today’s

Taking on any large project can be manageable when you have a reliable process in place. When deciding to exit your business, for example, you will need a proven process in place to ensure you have covered all the bases.  Just like baking, without following the specific process or recipe, you could end up setting

When you started your business, it was probably obvious that you needed a plan. It may be less obvious, though, that when you leave your business, no matter how you do it, you’ll also need a plan. The reality is that every action you take during the life of your business has an impact on

Succession planning, Exit Planning, and business planning may seem interchangeable in most people’s eyes. However, each type of planning plays a very different role in the process of designing, and then implementing, a strategy for leaving your business and planning for the future. You can’t use one strategy without the others when it comes to

You can’t get anywhere if you don’t know where you’re going. It’s also obvious that once you know where you’re going, you need to lay out a path that will take you there. But things that are obvious are not always easy. It can be helpful to adopt a process that is customized to your

As an owner of a successful business, it’s likely that you got where you are today through efficient planning. You may have planned out your business model, your competitive advantage, or your target customers and how you’d get them to use your products or services. However, you didn’t get where you are today overnight. It most