For the love of your business
For the love of your business
As a small business owner, you’ve likely spent plenty of time working with your business plan. But have you dedicated the same amount of time to planning for the continued success of your company after you retire? Or if you were to suddenly die or become incapacitated? If you’re like most business owners, the answer […]
Read MoreWith today’s tuition costs at astronomically high levels, paying for a child’s college education can feel like extortion. If your child is an adult, you may have decided that it’s up to him or her to pay for tuition, but if you do want to help your adult child (or grandchild) with college tuition, there […]
Read MoreIn 1988, Stroh’s Beer was one of America’s most impressive family fortunes, estimated by Forbes to be worth $9 billion in today’s dollars. Just two decades later, however, the massive beer empire, along with all of the family’s wealth, would disappear. Poor business decisions and bad investments were the primary cause of the company’s downfall. […]
Read MoreIf you’ve dreamed of leaving your company to your family but haven’t sufficiently included your business in your estate plan, that dream could become a nightmare for your heirs—and for your business’ team members and clients, too. To ensure your company is passed to your family in exactly the way you desire, you want to […]
Read MoreFamily businesses tend to bring to mind small mom and pop enterprises that make a profit but aren’t necessarily industry leaders. True, you can find mom and pop at the helm in many family owned and operated businesses. But an analysis done by Boston Consulting Group found family controlled businesses account for more than 30% […]
Read MoreEntrepreneurship is not for everyone. Only a certain type of person has the particular set of skills, and is willing to take calculated risks and work tirelessly to build a successful business from scratch. One risk you should never take is leaving the future of your business to chance. As you grow your company, consider […]
Read MoreAs a business leader, you have the ability to make an impact, inspire future generations and leave a legacy of your leadership. But too often, leaders in the business world fail to consider how to accomplish these lofty goals until it’s too late. Leaving a business legacy isn’t as simple as wisely planning your retirement. […]
Read MoreMillennials are taking their places at office desks around the nation. This burgeoning generation is just starting out,which means changes for family businesses with millennial family members who stand to inherit the family business. Of course, this scenario raises certain concerns for baby-boomer business owners as they look to the next generation of workers. According […]
Read MoreAs a business owner, you’ve taken on a big responsibility to your family, your clients/customers, your team and your partners. Most businesses are not sufficiently liquid to keep the company going and the owner’s family thriving, in the event of death. But with the right plan in place, you can ensure the people you care […]
Read MoreYour family-owned and run business can be the greatest gift or the greatest burden to the people you love, if and when something happens to you. If you’ve planned well and properly for your business to be continued, managed or sold, it will be the gift that keeps on giving and shows your family just […]
Read MoreWhen most people think about planning for death, they envision personal estate planning. But even if you are already proactive in that area, you may not be finished if you own a business. Succession planning for business owners is at least as important as personal estate planning, maybe even more so because you have a […]
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