The Illusion of Equal Ownership
Wednesday, 27 May 2020
by Business Exit Planning
As Exit Planning advisors, we base our actions on our clients’ goals, one of which is to transfer their companies to the successor they choose. If clients tell us that they want to transfer their businesses to the next generation and have more than one child, the related (and almost universal) goal is to
- Published in Newsletters
Smoothing Out Friction Between Business Owners
Friday, 24 April 2020
by Business Exit Planning
All business partnerships eventually come to an end when one or more partners leave the business, whether by choice or otherwise. Being prepared for the end of the partnership decreases the possibility of unwanted challenges between co-owners down the road. Common Reasons Why Partnerships End Co-ow ners share a unique relationship. They have…
- Published in Newsletters
How to Be Sure You Are Leaving Your Business in Good Hands
Monday, 30 March 2020
by Business Exit Planning
Most business owners are considering several options for the future of the ownership of their businesses. If you’re keeping your options open, that is typical. But business owners who end up selling their businesses to an outside, unrelated buyer often report that they wish they had known more about what the sale process would be
- Published in Newsletters
Thinking of Selling Your Business to an Employee?
Wednesday, 18 March 2020
by Business Exit Planning
Whether it’s because you want to keep the business “in the family” or because you suspect you will not be able to find a good buyer for your business, you may be thinking of selling your business to an employee. The first thing to think about is the kind of employee who can and
- Published in Newsletters
Which Planning Process Is the Best Fit for You?
Friday, 28 February 2020
by Business Exit Planning
Planning for a successful future isn’t homogeneous. It simply can’t be. The needs that you and your business have are likely to be different from every other owner and business out there. So, the question you might ask about planning for future success isn’t, “How should I do this?” Instead, it should be, “Which process
- Published in Newsletters
Strategies for Reducing Risk and Improving Outcomes
Tuesday, 11 February 2020
by Business Exit Planning
As a business owner, you make decisions constantly that you believe will reduce your risk and/or improve your business outcomes. There are countless ways to do this. In this article, we’ll present ways to leverage your internal strengths to reduce risk and improve business outcomes. We’ll also show you how these strategies can affect your
- Published in Newsletters
The 7 Cs of Planning Success
Tuesday, 04 February 2020
by Business Exit Planning
Success can be a nebulous concept. What one business owner considers success might only be a step on the path to success for you. What are some of the guidelines that you can use to foster the kinds of planning that achieve the success you want? Tom Morris—a pioneer of business thinking—proposed the 7
- Published in Newsletters
3 Ways to Position Yourself and Your Family for Future Success
Thursday, 09 January 2020
by Business Exit Planning
Many business owners support their families through their businesses. If something were to happen to you, such as a sudden death or permanent incapacitation, it may affect both your business and the lifestyles of the people who rely on you. Here are three things you should consider when planning for the future success of
- Published in Newsletters
Why Defining Goals Is Important and How to Do It
Tuesday, 31 December 2019
by Business Exit Planning
Planning for a successful business future is an exercise in foresight and commitment. Without foresight, it may be difficult for you to determine what success means to you. Without commitment, even the best-laid plans will fall by the wayside. For everyone involved in the process of planning for a successful future, defining your goals is
- Published in Newsletters
If You Love What You Do, Why Should You Make Plans to Leave?
Tuesday, 31 December 2019
by Business Exit Planning
Many business owners love the companies they’ve founded, whether it’s because of the work they do, the changes they effect, the money their companies provide, or something else. When you carve out a comfort zone within your business, you might question why you would want to plan for your business exit. Today, we’ll look
- Published in Newsletters