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Family Governance is Not Business Governance
Family Businesses Need Strategies to Govern Both the Family and the Business Family businesses are unique and the way they are run differs from family to family. Each business has varying degrees of corporate governance. Formal governance structures grow as the business grows and becomes more complex. Governance processes trail business needs in most situations. When […]
Breaking Up Is Hard to Do: Surviving a Business Divorce
Conflicts between business partners are nearly inevitable. Thankfully, there are a number of ways for parties to negotiate up-front. Precautionary agreements give you space to resolve issues more easily or, at least, provide a picture of what the result will be when resolution is not possible.
Solving Familial Business Issues: Putting the “Family” in Family Business
A Family’s Most Valuable Business Asset is Itself The component to family businesses that make them unique from other businesses is the family. Solving family business problems without understanding the family dynamic is akin to a placing a bandage on a broken leg – it simply is not sufficient. Family businesses possess a complexity that […]
The Strategic Value of Accelerators: How They Can Benefit the Business at any Stage
How Accelerators Can Help Your Business Grow Startups need money to, well, startup. In order to get money, fundraising is a likely path that most startups will travel. There are many different funding sources available, and the usefulness of each one varies depending on the stage of the business. Some common fundraising sources include: Founder […]
The Importance of Succession Planning for a Thriving Family Business
Succession Planning Means Looking Beyond the Second Generation Most family businesses don’t make it beyond the second generation. Even fewer reach the third generation of ownership. Why is that? As much as one generation would like to hand the business off to a next-generation family member, the following critical questions are often not adequately considered: […]
Organizational Pace of Change: Surviving and Thriving in Our Fast Paced World
Change is Constant, the Pace of Change Increases Our world is constantly changing but the pace of change has increased exponentially. The way we adopt and adapt to new technology far outpaces 10, 20 or 50 years ago. People expect things to change rapidly. In order to succeed in business your organizational pace of change […]
The Advantages of a Buy-Sell Agreement for Business Transitions
How Do I Love Thee Advantages of a Buy-Sell Agreement? Let Me Count the Ways… Businesses with more than one owner face unique challenges in planning for the future. A buy-sell agreement is an arrangement between business partners to govern potential ownership transitions, including the “four Ds”: death, disability, divorce and disagreement. One of the […]
Understanding “Reasonable Cybersecurity Measures” to Safeguard Data
Reasonable Cybersecurity Measures for Protection After collecting personal information, businesses must take “reasonable measures” to safeguard it. Some states, such as Florida and Alabama, have this standard (or a similar one) in their cybersecurity statutes. On the federal level, the Federal Trade Commission has brought numerous enforcement actions against companies for engaging in “unfair” cybersecurity […]
Overcoming Common Business to Business Sales and Marketing Challenges
Show Business to Business Sales and Marketing Who’s Boss Businesses that focus on selling products and services to other businesses are very similar to those that sell to consumers. The differences between the two lie in their sales and marketing activities. In business to business sales and marketing, lead generation, targeting buyers, and the sales […]
Small Businesses Are Key to Driving Economic Recovery
Editor’s Note: This is an updated version of a similar article published in March of 2015. To view the original, click here. Creative Capital is Driving Economic Recovery As small business owners get creative in raising capital, the economy is beginning to show steady improvement. It’s no secret that credit is a long-standing problem for […]
