Business Continuation

Business Continuity Solutions for Sole Owners

By John Allen / November 19, 2016

Because Jim had dreamed of selling his company at 60, he had given little thought to what would happen to his business and his family if something happened to him. So, Engineering Solutions died of an all too common cause—human error and neglect, setting off a chain reaction of ever worsening consequences for Jim’s family and business

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The Road to Irrelevance: Transferring Your Responsibilities to Management

By John Allen / September 9, 2016

Longtime readers of this newsletter know that one of our favorite instructions to business owners is: Make Yourself Irrelevant! Newer readers may find that recommendation off-putting so let us explain. Unless your business can run without you, your business has little value to a prospective buyer. If making yourself irrelevant is the goal, how do you…

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Equality and Fairness in Transfers to Kids

By John Allen / August 5, 2016

[et_pb_section bb_built=”1″ next_background_color=”#000000″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.19.3″] Stan Briggs was perplexed when he told his advisor, “My son, Patrick, has worked in the business for the last twelve years. In that time, the business has tripled its revenues and its profits. I’ve started to think about scaling back my activity and I realize how important it is…

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Business Owners Who Plan Ahead Increase Success

By John Allen / June 17, 2016

[et_pb_section bb_built=”1″ next_background_color=”#000000″][et_pb_row][et_pb_column type=”4_4″][et_pb_text _builder_version=”3.19.3″] “To will is to select a goal, determine a course of action that will bring one to that goal, and then hold to that action till the goal is reached. The key is action.” — Michael Hanson If the thought, “Why create an exit plan when I can’t sell my…

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Motivate and Retain Key Employees

By John Allen / October 27, 2015

Get More Bang For The Buck: Use Cash Bonuses And Golden Handcuffs To Increase Business Value Too often, owners only discover that the compensation plans they’ve put in place for key employees are sadly inadequate when those key employees leave their companies for greener pastures. The departure of one or more of these key employees…

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