A quiet but consequential shift is beginning inside small and midsize businesses. Owners are discovering that the greatest obstacle to a successful transition is often not finding a buyer, arranging financing, or minimizing taxes. […]
There is a moment at almost every closing table that the lawyers never put in the documents. The founder, the person who started the company with one truck and a phone, goes quiet, pen […]
Today’s boards find themselves dealing with leadership transitions more often, and in many cases with less warning, than they would prefer. Some departures are the result of sound, long-term planning and thoughtful succession processes. […]
Most owners don’t avoid succession planning because they don’t care about it. They avoid it because it feels abstract. Legal documents, valuations, timelines. It all sounds like something you deal with later. In reality, […]
Organizations often focus on immediate operational needs. They address current market demands and client projects. This strategic myopia can create blind spots. One significant blind spot is succession planning. It’s about preparing for the […]
The strategic imperative for robust leadership development programs is rarely questioned. Organizations invest significant resources to cultivate future leaders. This investment is often framed as a crucial element of long-term stability and growth. However, […]
Business owners are used to managing risk. They plan for market downturns, tax exposure, regulatory changes, and operational disruptions. Many also take succession planning seriously, working through valuations, ownership structures, and legal agreements designed […]
When the Foundation Crumbles Without Warning At 46 years old, former Zappos CEO Tony Hsieh had built a business empire worth an estimated $840 million. A visionary entrepreneur celebrated for his business acumen, Hsieh […]
Business owners regularly complain about working too many hours and not being able to take a vacation. My strategy for replacing myself in the day-to-day workflow offered me enough freedom to enter my “preferment” […]
A professional business valuation helps business owners objectively understand their company’s financial health. Below, we explain why you need to know the true value of your business for gauging your company’s success, resolving disputes, […]
We regularly meet business owners at our M&A conferences who lament that they have been assuming for years that their children would eventually take over the family business—only to eventually learn, for a variety of […]
Chances are, you view succession planning as just one more decision you’ll have to make regarding your business. Through the years, you’ve probably had to make some tough decisions. You’ve hired many good people and […]
Divorce takes an emotional toll on all people involved—family, friends and, for business owners, employees who are concerned about distractions and decisions that may impact the company. No doubt financial concerns weigh heavily too in […]
Over 90 percent of the businesses in the United States are closely held (nonpublic). More than two-thirds of those are family owned and controlled. Unfortunately, approximately 70 percent of them will not survive past the […]
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