Understand what The One Percent Solution is and is not.

The Tennessee Chapter of the National Speakers Association held a meeting recently in Nashville.  The speaker was former National Speakers Association president, Mark LeBlanc, author of what has been called “the little blue book,” Growing Your Business! Mark’s audience is comprised of small business owners and those in professional practices, or a group of businesses […]

When it comes to succession planning, are you and your company a Microsoft, with no plan at all, or are you a Berkshire Hathaway, with an announced plan in place?

Two partners finally created a buy-sell agreement after more than twenty years in business. At the unexpected death of one of them, the life insurance worked as a funding vehicle to purchase his stock. However, he had failed to communicate with his wife about the agreement and that was bothersome to her for a long time. The death of one partner then creates new issues for the other.

Over the course of my career, I recall two businesses where the owners were aging and where needed ownership and management transitions had been delayed or ignored.  These companies were not clients, and I hold no confidential information about them.  My discussion today relates to obvious observations based on reviews of their websites and informal […]

Most owners of successful closely held and family businesses simply do not think about using reasonable leverage as a tool to redistribute stock ownership, provide liquidity for certain shareholders, provide special dividends, or other transactions designed to provide liquidity for their shareholders. However, meet Harold.

The following is a list of 25 questions to think about in assessing whether you as an owner are treating your business as an investment. If you are a business adviser, you can ask the questions on your clients’ behalf or, better still, in meetings with them.

Wealth management for illiquid assets like in your closely held or family business is a big deal that is ignored by too many business owners.  I use the term, “Pre-liquid,” to describe this wealth because that’s how you think about it.  Your company is with you today, and someday you are going to sell it.  […]

The management of liquid wealth in the United States, and indeed, in the world, is a well-established industry with many players.  Americans are accustomed to having their wealth managed by others in one of a number of fashions.  As I was thinking about liquid wealth management, I reflected on my own personal experiences and those […]

There will come a time when we don’t want to work in our business any longer, or we want to work less. And if neither of these things happen, there will come a time when we won’t be able to work any longer. In any event, it is a good idea to plan for all eventualities.