Financial Poise

Articles tagged: Succession Planning

Business Transition and Exit Planning

Planning and Staging a Company for Transition

Are you planning to sell your business or otherwise transition its leadership? Here’s how to plan and stage your company for transitioning at maximum value.

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family business roles and responsibilities

Protect Your Family Business with Smart Succession Planning

Clarifying Roles and Responsibilities for Smooth Transitions In family business, a succession plan guarantees continuity. It ensures a smooth transition of leadership so that the business can carry on. Where no succession plan exists, the risk of turbulence and conflict is high. Creating a succession plan is a fairly straightforward but necessary task. It details […]

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family charter

The Importance of a Family Charter in Family-Controlled Businesses

How to Maintain Control in Family-Controlled Businesses Unique challenges tend to arise when a family controls a business. Some questions that may emerge are: Which family member will lead the business? How will profit distributions be decided? How can a family member exit the business? Questions such as these are best handled in advance and […]

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BTEP

Business Transition and Exit Planning: Welcome to the Jungle!

BTEP: Where Should You Start? You are a business owner. You have worked hard, possibly for decades, building your business. You are smart, and the business has been successful, but it is time to move on.  Perhaps you want to retire; maybe you want to try your hand at something new. Regardless of the reason, […]

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selling a business

Banker, Broker or Sell it Yourself: Choosing the Right Method When Selling Business

So You’re Selling a Business: Now What? For most business owners, selling a business is a once-in-a-lifetime event. These owners want to maximize their proceeds and they may be super salespeople, but likely have little experience selling a business. In fact, their exit may be the only meaningful transaction they experience. This is why it is […]

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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: […]

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sensitive family business

Sensitive Family Business May Bring Up Fur Balls

Choking on the Words During Sensitive Family Business Every cat owner knows the sounds. The deep retching and heaving. The cough that sounds like your cat just may turn himself inside out to eliminate a fur ball. Next may come a few backward hops, as if to distance himself from the mess he just created. […]

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private company board strategies

Effective Private Company Board Strategies Drive Goals to Completion

Private Company Board Strategies Create Advantage Strategy has been defined as the art of finding an unfair competitive advantage in the marketplace. It is implemented through defined objectives, strategies and tactics. Whether public or private, driving strategy is how boards create value. Public companies tend to have well-staffed strategy groups, of which M&A is one […]

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Selling a Business: When Do I Know It's the Right Time to Sell?

Selling a Business: When Do I Know It’s the Right Time to Sell?

Selling a Business – Planning Is Key There are several factors that determine if an owner is selling a business at the right time. The greatest challenge for many owners is creating a strategic plan based on the owner’s individual priorities. An owner who is happiest post-sale is the owner who stuck to the plan, […]

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succession planning, succession planning process

When it comes to Succession Planning: Plan “B” Is Always Plan “A”

Learn from our succession planning and business leadership experts about the right (and wrong) ways to approach succession planning.

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