You still feel healthy but you want to continue the long term success of your company long after you have passed away.   You have children in the business and you want to pass your legacy to your kids, should you?  Too many parents believe that their kids will be as good if not better than they are at operating the business.  Some are, many are not.  Smart business (more…)

The only certainty we have in life is death and taxes. I have found that many people know that they need to plan their affairs but they are afraid to consider what happens when they (more…)

The economy has changes, business was booming a year ago but last fall, everything changed, the economy slowed (more…)

You created your business many years ago and you are planning to be around forever.  Your kids are small or you may not have any who are interested in the business so you (more…)

When you have a family business and several children you have to decide which child or children will be the heir apparent or do you go outside the business to bring in a professional manager?  Remember, often, the (more…)

Typically, if you sell a business, the buyer of the business will look at historical financial statements. The current economic downturn is affecting many companies and may continue to do so for some time in the (more…)

Before you list your business for sale, you need to think of what are you trying to accomplish.  Are you trying to realize some or all of your capital in your business to fund your retirement?  Do you want to retire (more…)

I spoke to a business owner who was worried that she would be unable to operate the business if her elderly husband became sick.  Her business was in a small town therefore the number of prospectiver buyers were (more…)

Are you objective when analyzying your children’s skills. Are they able to run the business or do they just follow your instructions? How long have they worked in the business? Do they know all aspects or do they (more…)