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Without Good Governance, Family Businesses Go Nuclear
3 Case Studies on the Importance of Good Governance To put it bluntly, proper governance does not come naturally for most private and family businesses. It requires leadership to understand that good governance protects the business, and is worth the sometimes substantial time and effort required to achieve it. Families will never be perfect. Which […] Read More
Lessons on Family Governance in Business
The Cornell/Loyola Family Business Roundtable brought together thought leaders to discuss business and family governance. Here are the key takeaways. Read More
Don’t Wait to Sell the Company
A business owner refused to sell the company amidst a changing market and growing debt. Here’s why waiting too long to sell hurt his business exit. Read More
An Alternative Exit Strategy for Distressed Business Owners
What happens when a family business with debt and no exit strategy faces a crisis? Read about their alternative solution: a distressed debt investor. Read More
The 4 Stages of the Divorce Process
Divorce is more than a legal process. It’s an emotional one, too. Read about the four divorce process steps, including the announcement and the aftermath. Read More
Acquisitions: That Company May Be Good to Own, but Tough to Buy
Inaction Dissatisfaction is Preferable to Buyer’s Remorse At a client’s recent board meeting we were evaluating making a bid on a rival business worth $100 million. Our management had spent years positioning itself for the opportunity to obtain this business, and now that acquisition was finally upon us. Even though it was an extremely large […] Read More
3 Advisory Board Styles to Fit Every Business
Advisory Board Roles and Responsibilities for Any Stage of Business The boards of directors of for-profit and non-profit organizations have the same fiduciary responsibilities: duty of care, duty of loyalty and duty of good faith. While similar to fiduciary boards, advisory boards are not the same. The purpose and function of a board of advisors […] Read More
Assembling the Right Transaction Team: Tips for Selling Your Company Successfully
Many Moving Parts Drive a Sale As you consider selling your company, there are many different topics that, as an owner, you may need to assess. In evaluating whether to sell, an owner’s time and energy can become focused internally, as he or she questions such as whether the appropriate management team exists, whether the […] Read More
Keeping Your Resolutions Throughout the Year: The Key to Staying Fit and Healthy
Don’t Be a ‘Ghost Member’ of Your Gym It’s that time of year again. Everyone making New Year’s Resolutions to “get in shape once and for all!” It is no wonder January and the months following are a big months for the fitness industry business! However, then comes the hard part: sticking to the resolution […] Read More
Creating a Risk Management System
Identifying and Managing Risks to Your Business Make It Stronger Most business owners are so busy running their business that they don’t have time to think about unlikely events. How can you think about possible “black swan” events when you are struggling with today’s problems? To protect shareholders, boards and management need to make time to think about […] Read More