The Ideal Time to Sell a Business
As we embark on addressing the question, Is Your Business READY for Sale?, let’s talk about the ideal time to sell a business. As it turns out, this is an important question.
Where There is a Will, There is a Will: Are Your Will and Health Care Proxy Current?
Recent surveys suggest that a large number of Americans and baby boomers do not have wills or a healthcare proxy, and often wills lag personal situations and desires. Conversations can be difficult, and the difficulties of an already difficult situation are compounded. However, unplanned situations happen. Consider these steps to do something, providing structure within which you can work.
One Owner Who Did Not Sell in Time to Maximize Proceeds
As optimistic business owners, we tend to think that bad things happen, but to other people. So we wait to do things we know we should do. Financing that is readily available today to accomplish diversification objectives may not be available tomorrow. This can happen because of adverse events at your business, changes in the availability of financing, or both. Don’t wait.
5 Little Things That Can Make a Difference in Your Business Day
CARRY is a simple reminder to do a few little things when you have the opportunity, making a difference in your business life.
Little Things Can Make Big Differences – Pay Attention!
Little things in our lives can have big consequences. Who would have thought that the position of my wallet would cause such trouble?
Private Company Wealth Destruction or Current Wealth Realization?
Begin with the assumption that one of the primary purposes of closely held and family businesses is to create wealth for their owners. Despite this driving purpose, the owners and managers of many private businesses engage in strategies that actually destroy wealth for their owners.
Get Excess Cash Off Your Balance Sheet
Carrying excess cash on your balance sheet is not a good thing. Learn why in this post.
11 Guiding Thoughts on CEO Management Succession for Private and Family Businesses
It is difficult to begin to think about management succession for many business owners who need to begin. Consider the following thoughts as a starting point.
Some Succession Plans are Nothing But Wishful Thinking
The father owns 100% of a privately held business. His son works in the business. There is life insurance on the father’s life. He believes he has a good transition plan, but it’s just wishful thinking.
Upcoming Webinar: Unlocking Private Company Wealth – A Tutorial for Business Advisers
During this webinar sponsored by the American Society of Appraisers to be held Tuesday, February 24, 2015, Chris will walk through key portions of his new book, Unlocking Private Company Wealth, and talk about the implications for business owners while relating the content to business advisers. He will discuss not only ideas and concepts that will enhance the quality of conversations you have with business owners, but will provide real-life examples of these concepts in action. Learn more about it here.