So Many Questions a Business Owner Must Ask re Ownership and Management Transitions


So many questions that a business owner must ask. And answer, if he or she hopes to have successful management and ownership transitions and a successful business end game that prepares him or her for the rest of life. Many of the questions are interrelated and the answers to some will influence the answers to others. I pose the following questions as a starting point for discussion between owners, their families, their key employees, and their advisers. At the conclusion of the questions, I suggest that you can begin to work on answers by examining your buy-sell agreement. That process will get you in the mode of asking and answering critical questions during the interim time between now and your business end game that will insure that you transition ownership and management smoothly and prepare for the rest of your life.

Where Do You Want the Ownership of Your Company to be in 3, 5 or 10 Years?

Part Two


This is the second in a two-part series: Where Do You Want the Ownership of Your Company to be in 3, 5, or 10 Years? In this first post, we introduced the Ownership Transfer Matrix. In the this concluding post, we dive deeper into the ownership question.

Where Do You Want the Ownership of Your Company to be in 3, 5 or 10 Years?

Part One


This is the first in a two-part series: Where Do You Want the Ownership of Your Company to be in 3, 5, or 10 Years? In this first post, we introduce the Ownership Transfer Matrix. In the concluding post, we dive deeper into the ownership question.

When is the Right Time for Management Transition?


When I read about Uber’s most recent financing, which valued its equity at $51 billion, I thought about FedEx Corporation, a Memphis-based company.  I then wrote a blog post titled Uber Market Cap of Equity Exceeds that of FedEx.  This past week, my thoughts about FedEx turned towards AutoZone, another Memphis-based company, as well as […]

Interim Time and Your Business End Game

Preparing for the End of One Thing and the Beginning of the Rest of Your Life


This post introduces the concept of “interim time,” which is the easily lost time between two critical goal posts in the life of a business owner, his or her current status quo and their business end game. It is, after all, what we do during this interim time that prepares us not only for our inevitable business end games, but also for the rest of our lives.

The $4 Trillion Opportunity for Business Ownership Transition


A decade ago, Richard Jackim and Peter Christman wrote a book entitled The $10 Trillion Opportunity.  The second edition had the subtitle of “Designing Exit Strategies for Middle Market Business Owners.” While the book did provide a guide for financial advisers working with middle market business owners, I don’t recall that it provided a basis for […]

So You Think You Have to Have a Fixed Price Buy-Sell Agreement?


In this post, I explain why I believe that fixed price buy-sell agreements are not workable for most closely held and family businesses. This is as true for large companies as well as much smaller companies. However, if you or your client insists on using a fixed pricing mechanism in a buy-sell agreement, take the steps recommended in this post to maximize the probability of success and minimize the potential for future disputes. My text for this sermon lies in Chapters 9, 13, 14, 16 and 17 of Buy-Sell Agreements for Closely Held and Family Business Owners.

Announcing the Ownership Transition Bundle

Announcing a new Ownership Transition Bundle for business owners and advisers.

My book, Buy-Sell Agreements for Closely Held and Family Business Ownershas been available since 2010 and has sold thousands of copies.  The book sells for $25 (plus shipping).

My latest book, Unlocking Private Company Wealth, was released in late 2014, and is selling at much higher rate than the buy-sell agreement book.  This new book deals with managing private company wealth in ways you likely have not thought about.  This book sells for $25 (plus shipping).  That makes $50 for the two books.

We are now offering an Ownership Transition Bundle, consisting of both books for only $35 (plus shipping).  As they say on selling TV networks, “But wait, there’s more!”

In addition to both books, you will receive immediate downloads of our very popular checklists, the Buy-Sell Agreement Review Checklist, and the Promissory Note Checklist.  The review checklist is by far my most downloaded resource, so this is quite a package!

If you are interested in ownership transition for closely held and private companies, the Ownership Transition Bundle will tell you a great deal about managing private company wealth in the process of thinking about ownership and management transitions.

The buy-sell book will tell you about the unexpected consequences for ownership transition, often quite adverse, when poorly written buy-sell agreements are triggered.  The free resources are available to help discuss and plan for important aspects of transitions.

Buy it now: The Ownership Transition Bundle.

What’s So Magic About Age 65?


Baby Boomers own a disproportionate number of the private businesses in America. They are turning 65, or reaching the so-called “normal” retirement age at an astounding rate. Generation X is smaller than the Boomer generation by a significant amount and that means there are fewer of them to take the place of retiring Boomer business owners.

Following the smaller Generation X, the Millenials will exceed the Baby Boomers in numbers by 2016 or 1017. While they are the largest generation in the workforce today, they may not yet be likely purchasers of businesses from Boomers.

So what’s an aging business owner to do? Is the glass half empty and this situation is all bad?

If, But, and Yes, But … No Way to Sell Anything

Fingers Crossed Behind Back Cropped

In a business damages trial a number of years ago, the plaintiff was answering questions with a lot of conditional phrases, like if, and but, and however.  At the conclusion of his cross-examination, the defendant’s attorney said the following: If “ifs” and “buts” were candy and nuts, every day would be Christmas! The judge immediately […]