I have talked to close to 50 CEOs and business owners in the past two months. When inquiring how their business is, the response is a range from devastation to this being the best year ever. This range has caused a chain reaction in the talent sector that has forced furloughs, layoffs, and hiring sprees. This level of activity would normally have taken place over...
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Leadership succession planning is an item on every business owner’s list, and yet it is rarely addressed head-on. I’m going to give a big shout-out to HBO: Before Succession, we sometimes had to explain precisely what succession planning in business is, but thanks to that dark, sharp, wicked dramedy, more and more people outside the C-suite are now familiar with the ins and outs of...
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A large number of executives in our network have had longtime, successful relationships with private equity firms. They have worked with them in a number of ways, including: Project-based: Due diligence, SME, first-100-day plan Interim-based: A wide variety of work based on unique or pressing needs Full-time: Stepping in as part of the new leadership team or supplementing the current one Where most executives see...
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Many times when business owners talk about succession planning for their company, they discuss about the insurance policy that covers their family and estate taxes. Very few consider the future of the company without them. Because after all, if I’m still here and running things, why should I worry about who my successor should be? In this detailed post on how Succession Planning is More than Insurance, we...
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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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Contributed by Michael Evans Private companies face many challenges in today’s economic and political environment. There are three key strategies that CEOs should adopt in 2013 in order to turn those challenges into opportunities. Running a successful business is like getting to the Super Bowl. It takes leadership, teamwork, great players and most importantly, the right game strategy. According to a survey by RBS Citizens,...
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When I ask CEO/Owners if they have a Succession Plan, they begin to tell me about their Key Owner Insurance Policy. In other words, what will happen to their company when they pass away? Most of them have given it a great deal of thought and have made sure that they have ample insurance to cover their estate taxes and provide for their family, but...
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