- Who Needs to Know Your Succession Plan? – Part Two
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written on October 10, 2011
by Chris Cooper
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Succession Planning
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Many business owners struggle with to what extent to share their plans, and who to share them with, regarding exiting their business. Maintaining a high level of secrecy is often viewed as an integral component of planning, and in many cases is the right course of action. On the other hand, it is a common observation regarding human nature that rumor and innuendo will soon fill a vacuum of little or no information. The effect of false rumors and misunderstandings on a small business can be catastrophic.
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- Who Needs to Know Your Succession Plan? – Part One
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written on September 30, 2011
by Chris Cooper
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Succession Planning
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Once again Apple is in the news regarding its succession strategy for (now former) CEO Steve Jobs. The impact of his health issues on Apple as an ongoing, successful business have been reported elsewhere (and everywhere), so I won’t go into a lot of detail here. What I wish to focus on is the commotion that occurred a few months ago when some larger Apple shareholders questioned the extent of the company’s plans for replacing Jobs should he need to step down. After all, these major shareholders stood to lose a lot of money should a hurried exit of the brains behind Apple occur. It would be hard not to see their concerns as legitimate.
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- What a Waste of Time!
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written on July 22, 2011
by Eric Kurjan
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Succession Planning
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Driving higher levels of performance and ultimately better results starts with solid plans. One area, if managed, that can directly impact the bottom line is reducing wasted employee time.
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- Don’t Underestimate the Emotional Side of Exiting Your Business
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written on May 26, 2011
by Chris Cooper
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Succession Planning
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When talking to business owners and professional groups about ownership succession, I tend to spend more than a little time on what might be termed the “softer” side of exiting a business. This could include relationships with a spouse, children, and other family members; relationships with employees, customers, and the community at large; life after retirement; and yes even illness and personal mortality.
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- Why Change?
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written on May 02, 2011
by Eric Kurjan
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Succession Planning
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Changing your behavior takes hard work and commitment, so does improving your business performance.
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- Planning for Business Succession Doesn't Have to Mean Retirement
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written on March 25, 2011
by Chris Cooper
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Succession Planning
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I talk to many business owners who quite literally refuse to properly plan for ownership succession because they are 1) not ready to “retire”, 2) aren’t prepared for all the looming free time, or 3) fear what will happen to them without the sense of purpose that being a business owner gives them.
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- Management Issues as You Plan for Exiting Your Business
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written on December 22, 2010
by Chris Cooper
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Succession Planning
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As the owner of a small business, you are likely also to be the business’s primary manager. So what will happen to your business when you take yourself out of the equation?
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- Organizational Development Ways to Grow and Increase the Value of Your Business
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written on December 09, 2010
by Steve Krisfalusy
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Succession Planning
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Definitions of “Strat planning” "Succession planning, Organizational Development”: “Strat planning” is the formal consideration of an organization's future course.
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- Common Misconceptions About Exiting Your Business
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written on November 05, 2010
by Chris Cooper
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Succession Planning
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During my time assisting business owners with their exit planning, I’ve noticed a few common “worst practices” and misconceptions that cause business owners problems. Let’s take a look at some of the more common ones
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- Selling to Your Employee When An ESOP Does Not Fit
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written on August 25, 2010
by Chris Cooper
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Succession Planning
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Many business owners and advisors are familiar with Employee Stock Ownership Plans (ESOP). They can be a good fit for business owners who are looking to cash out some or all of their equity in the business. ESOPs also provide significant tax breaks for the seller AND the business.
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- Advisory Boards Can Be Powerful Tool in Your Succession and Strategic Planning Toolbox
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written on July 29, 2010
by Chris Cooper
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Succession Planning
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If you asked a group of small business advisors about common strategic mistakes their clients make, I bet that most if not all of them will say that the average business owner spends too much time working in the business, and not enough time working on the business.
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- Choosing the Right Advisors to Help You With Exiting Your Business
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written on June 22, 2010
by Chris Cooper
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Succession Planning
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Choosing the right advisors to help you through the exit planning process is an integral component of a successful plan. Here are some general guidelines to think about:
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- Upon Exiting Your Business Do Not Try to Minimize Taxes
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written on June 14, 2010
by Chris Cooper
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Succession Planning
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No, I am not asking you to pay more tax than you need or want to. My purpose in choosing the above title was to make you think about the tax issues surrounding exiting your business in a new way.
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- Selling Your Business to Your Employees Might Be the Best Option
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written on June 11, 2010
by Chris Cooper
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Succession Planning
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When contemplating selling their business, many business owners automatically assume it will be to family members or to an outside third party buyer. Business owners have a lot of pride in the businesses they have built, and they often feel that one of the greatest gifts they can bestow on their children is to transfer the business to them.
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- Planning for Exiting Your Business in a Down Economy Not as Crazy as You Think
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written on November 24, 2009
by Chris Cooper
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Succession Planning
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- Timely Business Succession Planning is Timely Economic Development
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written on November 23, 2009
by Chris Cooper
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Succession Planning
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- Keeping it in the Family An Overview of Selling or Transferring a Business to Family Members
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written on August 24, 2009
by Chris Cooper
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Succession Planning
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- Webinars Offer Insight Into Exit Planning Process
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written on April 27, 2009
by Chris Cooper
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Succession Planning
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- Issues in Small Business Succession Planning The Goals of the Selling Owner
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written on February 09, 2009
by Chris Cooper
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Succession Planning
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- Issues in Small Business Succession Planning Valuation or How Much Is My Company Worth
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written on January 29, 2009
by Chris Cooper
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Succession Planning
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- Exiting Your Company Small Business Succession Planning Part Three
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written on January 02, 2009
by Chris Cooper
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Succession Planning
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- Exiting Your Company Small Business Succession Planning Part Two
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written on December 29, 2008
by Chris Cooper
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Succession Planning
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- Exiting Your Company Small Business Succession Planning Part One
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written on December 22, 2008
by Chris Cooper
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Succession Planning
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