Planning an exit strategy for a company takes a psychological step before a financial one and there are many potential pitfalls for an owner seeking to build a succession plan.
According to the United State Census Bureau’s 2022 Annual Business Survey, over half of the business owners in the United States are 55 years of ...
Succession planning is not just a financial or legal process. Families need to acknowledge the emotions and feelings involved ...
When you work for someone else, leaving a company can be as simple as giving your notice or announcing your retirement. But when you own a business, leaving is a little more complex. You need a plan, ...
Every company has a short list of considerations when it comes to strategic planning. Near the top of that list is preparing for potential — and sometimes inevitable — shifts in leadership. With an ...
Busy running a medium-sized milling operation as a family-owned business, Lynn Stieglitz hadn’t given much thought to succession planning. But after attending a regional dairy producers meeting in ...
When it comes to succession planning, don’t wait until it’s too late to start. That’s the main takeaway from Christopher Flis’ presentation on succession plans at the annual Restaurant Finance & ...
Anyone who has spent time in a law firm has seen this scenario unfold. A senior partner announces that they'll be retiring at ...
Picture this: You're the founder of a successful company. Your business vision has become reality, your team is unified and precise, your brand identity is strong and your customers are loyal. But now ...
It’s a comical question, but it makes a serious point about the importance of preparing for leadership transitions before they occur. Staff members at Dancers’ Group, a small nonprofit that promotes ...
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