10 Strategies to Minimize the Emotional Toll of Selling Your Business Running a business is stressful. Selling a business can be equally daunting. It’s important to acknowledge and prepare for these changes as a former business owner. There are several similarities between business owners when dealing with company succession plans. There often isn’t a complete succession plan in place. There’s … Read More
How 6 Factors Will Help Your Business Survive and Thrive Through Succession Planning
For many entrepreneurs and business owners, their business represents their single largest asset. Depending upon the size of the business, it likely dwarfs the value of their home or other assets. Like selling your home, to attain the most significant selling price, you will have to invest some upfront time, money and energy into fetching the best asking price possible. … Read More
8 Tips To Make Your Family Business Succession Plans Successful
Family Business Succession Plans Strategies If you are an owner in a family enterprise, the likelihood of your business successfully transitioning to the next generations is not very good. This has not changed over the years. Statistics show a failure rate of: 67% of businesses fail to succeed into the second generation 90% fail by the third generation With 80% to … Read More
5 Types of Business Risk Every Business Owner Should Absolutely Prepare For
Ignoring Business Risks Could Mean Disaster for Your Family, Your Retirement, Your Business and Your Employees As business owners, we expect and accept a certain amount of risk. If there weren’t any risk, then everyone would go into business for themselves. Like in life as in running a business, there are smart risks, calculated risks and completely random risks. Some … Read More
The Top 8 Things Business Owners Should Consider When Buying Life Insurance
Buy-Sell Agreements, Insured Retirement Plans, Business Contingency Planning or Succession Planning: Life Insurance Has a Role in your Business Whether you’re purchasing life insurance to satisfy a buy/sell agreement, creating an Insured Retirement Plan to get money out of your business in a tax favourable way, for business contingency planning or succession planning, life insurance can fulfil a very cost-effective … Read More
What are the Keys To Planning a Successful Business Exit Strategy?
Can Your Business Exist Without You? Can You Exist Without Your Business? I meet with an average of 10 business owners every week. There’s a varied cross-section of industries, size of company and expectations of growth. Each owner’s idea of success is very different, as well. The one common denominator amongst them, however, is to leave a legacy and to … Read More