Is Value-Based Management a Good Choice for Your Business?

Maximizing the value of your business is the focus of a good exit strategy. It logically follows that a focus on value optimization should be built into your overall business strategy and how you run your business. Leading management consulting firm, McKinsey & Company, has developed a model for a comprehensive approach to value-based management (VBM). They assert …

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Ownership Thinking – Making It a Reality

The members of our Exit Planning Peer Advisory Board (PAB) spent a significant amount of time last year learning about, evaluating, and implementing Ownership Thinking into their own businesses – and discussing their challenges, solutions, and progress at our meetings. Each business owner had a different approach to introducing the concept to their employees and …

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Is Your Family Business Positioned for Longevity?

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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Exit Planning Peer Advisory Board – Top Three 2022 Takeaways

The Exit Planning Peer Advisory Board (PAB) provides a safe place for business owners to discuss their challenges and offer support and insights to their fellow members, not only as they relate to exit planning but to their businesses today. A look back at the past year brings to light three significant areas in which …

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What Will You Do Next Year Towards Your Exit Strategy?

Whether you’re well into the exit planning process or just getting started, including goals for your exit strategy is key as you plan for the coming year and beyond. A simple way to get started is to set three specific goals for the year and map out how you’ll achieve those objectives. The specifics of …

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Year-End Planning – What Should You Focus On?

Much of our focus in Q4 is planning for the next year. This year has been an eventful one, yet again, and reiterates the necessity to plan for the unexpected and maintain flexibility – both in your written plan and your company’s literal ability to respond to change. There’s a lot to factor in as …

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Preparing Your 2023 Budget

As we step into Q4, it’s time once again to start planning for next year. One of the key components to strategic planning activities is preparing your budget. While it can seem like a time-consuming task, preparing an annual budget enables you to evaluate your spending, anticipate future needs, and stay on top of profits …

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What You Need to Know About Round Two PPP Funds

Coronavirus relief legislation passed in 2020 included an additional $284 billion for Paycheck Protection Program (PPP) loans to help small businesses pay employees and stay open. That second round of funding is now available. Some eligibility requirements have changed, and forgiveness rules have been eased a bit. In addition to first-time applicants, some businesses that …

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Now is the Time to Start Exit Planning – Here’s Why

Many business owners feel shaken by the impact of the pandemic on the business climate and may be questioning whether their vision of the future is still possible. One of the best antidotes to uncertainty is having a solid plan! It’s never the wrong time to start exit planning, and the more lead time you …

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