Family & Business

By Michael Hartley CFP® | From transitiondynamicsinc.com: Curated family business and closely held enterprise related articles and blogs.

Innovation

The Explainer: How to Write a Great Business Plan

A business plan that asks -- and answers -- the right questions is a powerful tool.

Small Business
Credit Report
Identity Theft

What's Really Involved In Negotiating the Purchase and Sale of a Business

To effectively negotiate an offer, owners and buyers must first understand the various types of offer documents, topics covered, and ways that offers are presented.<p>Whether you are a master negotiator or think negotiation is a necessary evil, one thing holds constant--if you don't understand the …

21st Century

How to Stop Employees Stealing Your Documents

By the time Anthony Levandowski left Google to start a competing self-driving company, his new venture may have had a key advantage: More than 14,000 …

Anthony Levandowski

The 6 Most Costly Mistakes to Avoid When Selling Your Company

Planning to sell your company one day? Here are the 6 most costly mistakes to watch out for...<p>Over the past twenty years I've sold multiple companies and helped my business coaching clients sell many more. Here are the six most costly mistakes that I've seen entrepreneurs (including myself!) make …

Small Business

Covenants: Protecting the Business' Most Valuable Asset

In this post, we will examine a common Deal Killer that owners not only fail to consider but also often create themselves: not protecting the …

Small Business

Business Life After Owner Death in Co-Owned Businesses

The death of a business owner, though tragic, does not have to equate to the death of the business. Sometimes, after an owner’s death, we speak with …

Small Business

Your Mission Statement Sucks. Here's How to Craft One That Works

Besides serving as a touchstone, your company's mission statement can work for you. Here's how to craft one that pulls its weight.<p>The much-maligned company mission statement can be a powerful and lasting sales tool. Here's how to start.<p>Ask why, not what<p>Before you pen a mission statement, consider …

What Happens When You're Executor of Your Parents' Estate

So your parents are updating their wills and possibly their trust documents, and they just asked you a huge question: “Will you be the executor of …

Estate Planning

Signs You’re Losing Control of Your Family Business

When the non-family chairman/CEO unexpectedly told family business owners that they had to live without dividends or sell the business, Tommy leaned over and whispered in his cousin’s ear: “Do you get what’s going on? The numbers have always been terrific.”<p>Despite their shock, Tommy and other …

Small Business

How to Make Your Team Function Like the Human Brain

It's possible. You just have to connect the dots.<p>Teamwork doesn't come naturally for most people.<p>In some ways, it's counter-intuitive. We tend to want to work in an isolation chamber, producing a report or a slideshow on our own and to advance our own motives and aspirations. When someone looks out …

Neurology

8 Immediate Asks For Your Advisory Board

Thinking about forming an advisory board? Not sure how to get the most out of one you've already formed? Here are eight immediate ways they can help.<p>If you're an early stage entrepreneur in the process of forming an advisory board (or if you've already formed one), it may not be clear what kind of …

Governance

How family businesses can address the Innovation Challenge (via Passle)

In case you weren't aware...family businesses are different! This article highlights some of the strengths and challenges family businesses need to …

Innovation

Selling a Business to Insiders: Transfer Expectations

In this post, we will discuss the key expectations both owners and successors have when owners transfer their businesses to insiders. As Exit …

Small Business

ESOP Conference 2017

Get Ready for our 2017 Event!<p>If you’re interested in learning about strategies to boost your employee ownership culture or if you’d like to learn how …

Canada

How Do You Structure an Earnout? Five Perspectives

Situation: A founding CEO is evaluating a purchase offer for his company. The buyer wants the CEO to retain some ownership interest to assure a …

Management

When I realized the economics of my company didn’t make sense, it was really scary

The scariest point in time for any company is when they realize their product isn’t working for the market. The next scariest thing is fixing it, before time runs out.<p>Getting product-market fit right is critical to the success of any small business. As business owners, we know this. That’s why it’s …

Small Business

The owner of New York’s oldest deli explains how Katz’s is able to sell 15,000 pounds of pastrami a week

Katz's Delicatessen in the Lower East Side of Manhattan opened in 1888 and is New York's oldest deli. Business Insider met with Jake Dell, the fifth-generation owner of the iconic deli to find out how Katz's has kept running for 129 years. Following is a transcript of the video.<p><i>Jake Dell (Owner,</i> …

Restaurants

The husband-and-wife team behind Clif Bar share the business advice that could have saved them about $70 million

Husband-and-wife team Gary Erickson and Kit Crawford told Business Insider that when they look back at their company, Clif Bar, on this year's 25th anniversary, they realize some basic advice in the early days could have saved them about $70 million.<p>The owners of the Emeryville, California-based …

Entrepreneurship

Science says parents of successful kids have 17 things in common

Good parents want their kids to stay out of trouble, do well in school, and go on to do awesome things as adults.<p>And while there isn't a set recipe for raising successful children, psychology research has pointed to a handful of factors that predict success.<p>Unsurprisingly, much of it comes down to …

Psychology

Tax Efficiency Tips for Small Business Owners and Sellers

Effective tax management improves profitability and cash flow - and ultimately, the value of your company to potential buyers.<p>Income tax season is an annual ritual with potentially serious consequences for small business owners. Pay too little and the IRS could be breathing down your neck; pay too …

Small Business

7 Ways To Leverage Your Small Business Data For Enhanced Revenues

It's still astounding that only half of businesses are leveraging the power of big data.<p>In today's tech-driven and a customer-centric world, using big data is pretty much a requirement. However, only just 48 percent of companies have invested in big data in 2016. While that's up 3 percent from …

Small Business

Want to Raise Successful Kids? Send Them to School a Year Later, According to Science

A Stanford study of kids who started kindergarten a year later showed surprising and persistent results.<p>We all want to succeed in life, and when we become parents, we want to do everything we can to make sure our kids are successful, too. Now a new study says there's a single decision many parents …

Parenting

3 Do or Die Tips If You Want Your Family Business To Succeed

Keeping it all in the family sounds great as long as you do this as well<p>Amazingly, 90% of American businesses are either family owned or controlled. Allot is riding on the success of these businesses, in terms of both your fortune and your family relationships. Yet fewer than 15% of family-owned …

Small Business

The Avoidable Reason Why Most Mergers & Acquisitions Fail

Key Dos & Don'ts for Blending Teams and Avoiding a Clash of Corporate Cultures<p>The business of mergers and acquisitions is an exciting, heady time for an entrepreneur, but it can also be fraught with awkward firsts, costly stumbles and tense unknowns. I've bought a few companies over the past two …

Leadership

The Great British Family Business 2017

The date is now set for our annual flagship event, The Great British Family Business 2017 which is a family business masterclass sharing insights, …

Leaders: This Is The Secret To Preserving Top Talent

Bringing a personal leadership approach to an organization - or even to your own work - requires three steps.<p>If company leaders hope to keep top talent, they are going to have to preserve their most talented employees.<p>If talented employees hope to fulfill their potential, they are going to have to …

Leadership