Blog Library

Kathy Richardson-Mauro

Recent Posts

Identifying and Preparing Successors for a Business Transition

Posted by Kathy Richardson-Mauro on Tue, Jun, 21, 2016 @ 03:52 PM

There can be many advantages to selling a business internally, but there can also be some challenges. One of the main challenges is maintaining objectivity about the situation, including your potential successor’s capabilities and whether they align with the needs of the company. If you plan to transition your business internally, make sure that you take the time to properly evaluate your potential successor(s) and develop his or her business and leadership skills well in advance of when he or she will actually take over the business. Some managers are fit for future leadership, and possibly ownership, while some are not. Going from an employee to an owner is an interesting and tricky process that can be a challenge even for the most skilled manager.

Read More

Topics: family business planning, Business Ownership Transition Planning, succession planning, business ownership transition success, choosing a successor, Grooming a successor, passing business to my family', family business challenges, family business successors

How to Plan a Successful Business Ownership Transition

Posted by Kathy Richardson-Mauro on Thu, May, 12, 2016 @ 03:51 PM


“While 54 percent of business owners plan to leave their business in the next 10 years, 72 percent [of those] have taken no exit planning action,” according to a recent study. For most business owners, their business is by far their largest asset, and not properly planning for its transfer can put them, and their employees and family members, at risk. Being prepared is the key to success. It starts with owner education, allowing enough time to plan, seeking the best advice, and creating a Business Ownership Transition Plan (BOTP). A BOTP is a comprehensive written document that outlines how and when the ownership of a business will be transferred to others, either internally or externally, in order to achieve the owner’s long-term financial and personal goals.

Read More

Topics: Business Ownership Transition Planning, exit planning, selling a business, business ownership transition, selling your business, selling my business, deal structure, business transition plan

Advisor Webinar: Leadership Development for Family Business Successors

Posted by Kathy Richardson-Mauro on Tue, May, 03, 2016 @ 03:16 PM

We would like to invite you to join us for our upcoming BTA Transition Partner Program webinar, The Importance of Strategic Planning and Leadership Development for Next Generation Successors in Family Business Transitions, on Friday, May 13 at 2 pm EST. During this webinar, we will be joined by Marvin L. Smith, President of Deliberate Synergy. We will be discussing the importance of strategic planning and leadership development for next generation successors in family business transitions.

Read More

Topics: free webinar, succession planning, Business advisors for family business, leadership development, business advisor webinar, family business successors

Would a Private Equity Firm Be Interested in YOUR Business?

Posted by Kathy Richardson-Mauro on Tue, Apr, 26, 2016 @ 08:23 PM

There are several different types of buyers in the business marketplace, including strategic buyers that are able to realize synergies through the purchase of your business, and financial buyers, such as private equity firms (PEFs) that are looking to invest in business to get a return on their money. While some financial buyers will want to buy 100% of your business, others will buy a controlling share and allow you to maintain some ownership as well so you may get the proverbial “second bite of the apple” when the business is sold again in the future.

Read More

Topics: Selling Your Business Externally, selling your business, selling my business, selling your business to a private equity firm

14 Things You Need to Know About Selling Your Business Externally

Posted by Kathy Richardson-Mauro on Wed, Apr, 20, 2016 @ 10:14 AM

Most business owners think that they simply will sell their business to a third party because they don’t have an option for selling their businesses internally and/or they think it will net them the highest dollar amount. While selling externally is often attempted, it is not often achieved. In fact, less than one in four of the businesses that go on the market for sale actually sell. Understanding the selling process, what buyers and lenders are looking for, and how to position the business can improve owners’ chances of success. But this takes time and effort.

Read More

Topics: Selling Your Business Externally, taxes, selling my business, selling your business in 2016, selling to a private equity firm, taxes on sale of business, selling your business to a third party

When It’s Time to Step Away from Your Business

Posted by Kathy Richardson-Mauro on Tue, Mar, 29, 2016 @ 05:36 PM

Most business owners have dedicated the vast majority of their adult lives to building their businesses—committing years, sacrificing little league games, vacations, tee times, and foregoing sleep to follow their passions and achieve their goals. They have succeeded in creating jobs, new inventions, and a comfortable lifestyle for themselves and their families, giving back to their communities, and contributing to the local and national economy.

Read More

Topics: baby boomers, stepping away from your business, planning for a business transition, step away from business

Keeping the Peace During a Family Business Transition

Posted by Kathy Richardson-Mauro on Mon, Mar, 21, 2016 @ 06:25 PM

Even if you don’t plan on transitioning away from your business for years, having a comprehensive, holistic plan in place gives you peace of mind, knowing that your business, your future, and your family’s future are secure. While many owners of family businesses want to keep them in the family, often, family dynamics can present challenges and concerns not present in other business ownership structures.

Read More

Topics: family business planning, family business, passing business to my family', family business peace, selling business to family

Advisors Beware: Are You Working With Your Clients’ Heirs and Successors?

Posted by Kathy Richardson-Mauro on Mon, Feb, 22, 2016 @ 02:08 PM

“66% of children fire their parents' financial advisor after they receive an inheritance,” which is significant, especially given that: “Over the next 30 years, an epic $30 trillion will be passed down from baby boomers to Generation X to millennials,” according to a recent article “The Great Wealth Transfer is Coming, Putting Advisors at Risk” in Investment News.

Read More

Topics: business transition planning, business transtion, business advisors, Great wealth transfer, Business advisors for family business

The Great Wealth Transfer is Coming, Is Your Practice Ready?

Posted by Kathy Richardson-Mauro on Tue, Feb, 16, 2016 @ 12:21 PM

If your practice consists of primarily business owners, it could be at great risk. According to a recent article in Investment News Magazine, Game Changers - Generational Planning, “a whopping 66% of children fire their parent’s financial advisor after they receive their inheritance.”  

Read More

Topics: free webinar, business transfers, business transition planning, Business transition team, Business advisors for family business, helping your financial clients

Free Business Owner Webinar "How to Sell Your Business to an Outsider and Get the Best Deal," Tuesday, February 2, 2016

Posted by Kathy Richardson-Mauro on Tue, Jan, 26, 2016 @ 03:37 PM

Owners who are thinking about selling their businesses need to be prepared. They need to consider the value of their business from the point of view of prospective buyers and learn how to maximize the value to achieve the best sale price. In addition, owners need to be aware of all of the other factors that will be involved during this complex process.

Read More

Topics: sell your business, selling your business, how to sell your business, sell your business to an outsider, getting the best deal when selling your business