Blog Library

Business Transition Case Study: The Deal of a Lifetime

Posted by Jane Johnson on Fri, Aug, 07, 2015 @ 11:36 AM

This is the story of a business owner, Roger, who was very involved in his business when we met. He had just turned 70-years young, which prompted him to think about life beyond the business.

In this case study, you will learn about how a Business Ownership Transition Plan (BOTP):

  • Helped Roger find and negotiate the best possible deal
  • Helped Roger achieve both his financial and personal goals
  • Ensured that Roger's business continued to succeed even after his sale of the business
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Topics: business owner transition, selling a business, business transition, selling your business, planning to sell a business

The Keys to Effective Succession in Family Businesses

Posted by Kathy Richardson-Mauro on Thu, Jun, 18, 2015 @ 10:00 AM

“Family businesses and their leaders are the ultimate entrepreneurs. They must continually innovate to grow and pass on a thriving business from one generation to the next. Our survey demonstrates how this entrepreneurial thinking across generations results in business success and strong family ties.” ~Carrie Hall, EY Americas Family Business Leader

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Topics: family business planning, family business, business owner transition, business ownership, baby boomers, Family Business Exit, Family Business Transfer, business ownership transition, successsion

The Necessity of Saving Outside Your Business

Posted by Jane Johnson on Tue, Jun, 16, 2015 @ 10:00 AM

Richard was 64 years young and the CEO of a $10 million manufacturing company when we met him. He had been in business for over 30 years and he was confident that he could keep his customers happy and content even though his products were more expensive than those offered by his competition. As a result, he did not focus on keeping his raw material costs low or hire anyone to focus on marketing to attract new customers.

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Topics: External Transfers, business owner transition, business ownership, exit your business, exit strategy plan, business owner, business ownership transition

Business Transition Lessons Learned: Making Sure Your Successor Wants to Take Over the Business

Posted by Kathy Richardson-Mauro on Thu, Jun, 04, 2015 @ 11:12 AM

Bob owned and operated a profitable printing business for over 30 years. His son Jason was active in the business as the VP of sales and Bob had been grooming him to take over the company since he came on board about 3 years ago. Unfortunately Bob never really spoke to Jason about officially taking over and when Bob told him he intended to retire the following  year due to health issues, Jason surprised him with a  bombshell; he had no interest in taking over the company. He had only worked there to help his Dad out. In fact, he really didn’t enjoy the industry much and would be looking for a job elsewhere once his Dad retired.

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Topics: business owner transition, business ownership, business transition, business ownership transition

Business Transition Lessons Learned: Why Getting Yourself Prepared Is So Important

Posted by Jane Johnson on Tue, May, 26, 2015 @ 01:54 PM

We first met John in the building where his father, a brilliant engineer, had started their manufacturing business over 40 years ago. It felt like we were walking into a museum. Everything in the office as well as on the manufacturing floor looked like a snapshot out of the 1970s. Nothing had been upgraded, painted or in any way modernized. The employees were all well into their 60s.

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Topics: business owner transition, business owner, business transition, business ownership transition

Exploring Your Business Transition Options

Posted by Kathy Richardson-Mauro on Tue, May, 19, 2015 @ 10:00 AM

If you are considering selling your business, you need to consider your financial as well as non-financial goals including:

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Topics: business owner transition, business ownership, business transition, business ownership transition

Succession—What It Is and What It Isn’t

Posted by Kathy Richardson-Mauro on Tue, May, 12, 2015 @ 10:00 AM

Success is the root of the word succession. But often the succession of a business is far from successful. I believe this is partly due to a narrow understanding of the word, which follows the dictionary’s definition. Here is how the Merriam Webster Dictionary defines succession:

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Topics: Business Ownership Transition Planning, business owner transition, business transition, business ownership transition, business transition planning, succession

Boost Your Company’s Value by Establishing Professional Processes and Procedures

Posted by Kathy Richardson-Mauro on Thu, May, 07, 2015 @ 10:05 AM

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Topics: Business Ownership Transition Planning, business owner transition, business planning, increase business value

How Small Business Can Replicate the Big Business Seller's Advantage in Today's Market

Posted by Kathy Richardson-Mauro on Tue, Apr, 21, 2015 @ 09:39 AM

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Topics: Business Ownership Transition Planning, business owner transition, sell your business, baby boomer businesses, sale of a business, Why Most Small Businesses Don't Work and What

Top 5 Factors That Determine the Value of Your Business

Posted by Jane Johnson on Thu, Apr, 16, 2015 @ 10:05 AM

There are five main factors, three internal and two external that can influence the value of a privately held company:

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Topics: Business Ownership Transition Planning, business owner transition, business planning, business value