The strongest businesses often have written plans for how to address unexpected events and mitigate risk, known as business continuity instructions. Their owners ask questions like, “What happens if a co-owner or I die?”, “How do we protect key employees from competitors?”, and “How do we address interruptions in our supply chain?” Here are three […]

The Exit Planning process should begin by determining your goals and objectives such as: The income you and your family will need after you leave the business; and Who you wish to transfer the business to — whether it is children, key employees or others. And, Exit Planning involves the determination of business value and […]

Running a successful business is complex per se. Adding the element of “family” to a business often creates more complexities, especially as the business grows. Lifelong family bonds and expectations can run headlong into business realities and needs.