Family-owned


Nov

11

2015
3 Things Every Family Owned Business Should Do

3 Things Every Family Owned Business Should Do

When you envision a family owned business, an image of a friendly little local store run by a small family comes to mind. But that isn’t always the case. Some of the best known and largest companies in the world like BMW and Walmart are still largely managed by members of the founding family. Family-owned businesses are more common than you think. When a family...

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Jul

11

2014

Two Ways to Ensure a Profitable Business Exit

Contributed by Cliff Sink. When small business owners go to sell their company they often receive a rude shock when the valuation that is offered to them is greatly below what they were expecting. This happens because buyers have become much savvier over the past few years in understanding for what they are really paying. Revenue and profits are great, but they only tell part...

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Jul

07

2014

Selecting Your Heir Apparent – Take Succession Planning Seriously

Contributed by Matt Sauer, Chief People Officer. Whether you have a set time period for your exit or nothing on the horizon, it is always a good idea to be working on your succession planning and selecting your heir apparent. While it can never be too early to start working on this, you don’t ever want to be in the situation where it is too...

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Mar

18

2013

How Can Family-Owned Businesses Incentivize Non-family Executives?

Contributed by Bill Morris   Before any incentive program is put in place, I think it’s important to determine which one of the “eight-motivational” categories the executive is in. Motivational DNA or–Drives/Needs/Awards- formula will then help direct the proper incentive. For example, the AWARDS- for some might be “internal”—needing a “pat on the back”—or for others- “external”—needing a bigger paycheck. To help companies make the...

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