The Five Pillars of a Successful Succession Strategy

Growing businesses need to carefully manage many components, people, products, processes and importantly cashflow. If you run out of cash – all the good work on the other elements will be irrelevant. While a growing business is an exciting goal, it’s ...

Over the years, business owners put an incredible amount of time and effort into their work. At some point, all business owners start to think about transitioning to retirement. That might mean reducing the amount of time spent with the business, turning ...

It’s hard to talk about business succession without talking about business valuation. Valuation is critical to ensuring a smooth transfer of ownership, which can be a complicated and lengthy process. Business valuations can clarify many of the issues ...

Cloud accounting systems are changing the way businesses operate and manage their financial information. If you haven’t looked into upgrading your processes to include cloud accounting systems, you might want to consider the following eight benefits. 1. ...

Business succession isn’t a last-minute process; it requires careful, strategic planning and ongoing support. In fact, small businesses without succession plans often fail when the owner or a senior-level partner retires or dies simply because there was ...

Too many business owners fail to plan for what will happen when they can no longer run the business due to illness, disability or death. Some people just don’t want to think about it, while others don’t know how to go about succession planning. Others ...

Running a business requires a great deal of hard work and sacrifice. Business owners often focus on what they can do to keep their operation growing at a healthy pace, but often neglect planning for problems that could incapacitate their business if the ...

Entrepreneurs are valued for their ability to start businesses, but another one of their responsibilities is to arrange for their business’s succession. This needs to be started long before you need to leave your business. Why is business succession so ...

Do you ever worry that your business will run out of cash before it runs out of profit? This is a big concern for many business owners, and part of the problem is that many people confuse cash with profit. Cash and profit are not the same, and when you ...