From an owner's perspective, a big advantage of selling the business to a family member is that provides an avenue for the family name to continue to be associated with the company, even after the owner has withdrawn from an active leadership role. However, it's not uncommon for the owner...
To use a broker, or not to use a broker - that is the question. In instances where you’re selling the business to a family member or trusted employee, you might choose to handle the sale privately, saving on brokerage fees. More on this later. ...
Family structureInput from members of the successor generation to the incumbent leader of the business is important to family firms that desire to grow into multi-generational entities. Although researchers have examined upward influence behavior in general, there is a dearth of studies discussing this...
Many business owners envision passing the business to a child or other family member. However, it’s important to consider whether a family member truly has the interest and aptitude necessary to run the business—and whether it might create an imbalance in the treatment of heirs if one inherit...
Selling your business can be both an exciting and anxiety inducing process. There are so many things to keep in mind and for many of us, our businesses almost feel like another family member. If you’ve created your business from scratch, it’s likely been a labour of love and no matter...
You can set reminders to follow up every few months, get notifications for key dates like business anniversaries, and ensure smooth handoffs if a team member departs. Think of it as a digital Rolodex that helps your entire team maintain multiple relationships with the personal touch of a local...
It is not about being #1 but rather Veronica’s success is defined by earning your real estate business for life as well as your referrals. Deciding to sell your property in today’s complex market requires hiring a realtor who has an understanding of your goals, in depth market knowledge,...
ll need to pay on the sale of your SMB, put together a succession plan for who will take over the day-to-day of your business, as well as an understanding of the pitfalls and pain points – and how to manage them – and outline a plan for your family finance...
Here’s something you might’ve missed that will make it easier to Co-sell on the commercial marketplace.Microsoft recently made an update in Partner Center...
Sell to their children/family Sell to their employees Sell to an equity fund Go public These options are all interesting, and all have their strengths and weaknesses. Family want the business – for free Employees have no money