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National Small Business Day is a wonderful opportunity to show your support for local entrepreneurs and businesses. Here are 10 ways you can celebrate and support small businesses this month: By implementing these ideas, you can celebrate National Small Business Day in a meaningful way and contribute to the success and sustainability of small businesses […]

Business Goals, Business Growth, Family Business

10 Ways to Celebrate and Support Small Businesses on National Small Business Day

May 6, 2024

Successful business owners do a lot of things well, and they make it look easy. This is often a sign of well-running processes and years of discipline. However, it can also be a trap for successful business owners who intend to pass their businesses onto their children or business insiders. While you may love the […]

Business Growth, Exit Planning, Family Business

Love Can’t Be Blind: Preparing for a Business Transfer to Children or Insiders

November 21, 2022

There’s a big difference between not wanting to retire and not being able to retire. Even business owners who intend to die at their desks can appreciate the safety net of financial independence should something unexpected occur. But many business owners look forward to an ideal future without implementing the proper planning to achieve it. […]

Business Growth, Exit Planning, Family Business

How to Remove “I Can’t Retire” From Your Planning Mindset

November 14, 2022

The last two-and-a-half years have been tumultuous, and owners of small to mid-sized businesses have borne the brunt of the pain. Though few people could have predicted the effects of the pandemic, business owners with plans for a successful future tended to feel more comfortable confronting the challenges they faced. Now, as whispers about a […]

Business Growth, Exit Planning, Family Business

Becoming More Recession-Resistant Through Planning

November 7, 2022

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. Today, we’ll share some ideas about how to keep the family business running and the business family […]

Business Growth, Exit Planning, Family Business

Keeping the Family Business Running and the Business Family Happy

October 31, 2022

If you’re considering transferring your business ownership to family, you might be tempted to put your family’s wants over your own goals. While this altruism may be admirable, it can also cause more problems than it solves. Consider the case of Darnell Orie. Darnell Orie was unsure how to approach his business exit. His son, […]

Business Growth, Exit Planning, Family Business

Balancing Your Goals With Your Family’s Goals in Family Transfers

October 24, 2022

In the checkered, but always interesting, history of nepotism (as it relates to business transfer) we find that parents hope a child will take over a business for several reasons: The joy of working together. (At least that’s what some owners claim.) Greater employment and financial opportunities for family members than that available elsewhere. Maintenance […]

Business Growth, Exit Planning, Family Business

Can Family Business Transfers Succeed?

October 10, 2022

If you’re like many business owners, your business plays a large role in supporting your family’s lifestyle. As you plan for your business’ future, you may run into questions about how to treat family members fairly in your plans. This is especially crucial if you have children who work in the business and children who […]

Business Growth, Exit Planning, Family Business

Fairness and Equity Among Family Members

October 10, 2022

When planning for the future, you have a wealth of options related to who should continue to run your business. Many business owners’ plans fall short because they are unaware of the many options they have available to them and the pros and cons of each path.  One common exit path is a family business […]

Business Growth, Exit Planning, Family Business

Is a Family Transfer Right for Your Business? 

October 3, 2022

Many owners and advisors talk about the importance of growing business value, and there are nearly unlimited options to help business owners do just that. But wouldn’t you agree that growing business value is pointless if you don’t know how to reduce the threats to that growth? As you prepare for an eventual exit from […]

Business Growth, Exit Planning, Family Business

Minimizing Threats to Business Value

September 24, 2022

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