More business owners are choosing a different kind of exit strategy that involves stepping back from day-to-day operations without retiring or severing ties with the company they built. On the surface, a transition like this can seem straightforward, but rarely is. In my recent work with a family-owned business, what appeared to be a simple …
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In my work as an exit strategist, I’ve heard multiple reasons from business owners for not starting an exit plan, often because it seems too far off to think about. Many haven’t considered the immediate rewards it yields, including a thorough business plan that can be used to support growth in their company today! So, …
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A business is typically considered family-owned when two or more family members are involved in its operation and the majority of ownership or control is held within the family. At the other end of the spectrum are Fortune 500 companies that are family-owned and have thousands of employees. The success of family-owned businesses and their …
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