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Cash In: Not Over Until It’s Over in Selling Business

October 19, 2014

Owner, who is selling business messaged, “Well it looks like we celebrated way too soon. We found out that the buyer backed out of the deal saying that if we didn’t sell at the price we were asking, he’d like to give us a lower offer.” Oops. Sorry. But it proves once again that “It’s […]

Cash In: Why Pop Won’t Transition?

October 12, 2014

Pop has a deal with Junior that he will transition the business within a time or price that’s not really specified. Nevertheless, someday this will all be his. In preparing Junior for his responsibilities in running the business, Pop puts him on the Executive Track and begins bringing him up through the ranks. What could go wrong? Well, […]

Cash In: Trouble with Transition to Two

October 7, 2014

If you’re Mom and Pop and are thinking about transitioning ownership in the business to TWO or more of your children, then you might want to read this. Why? You just might be setting up the family up for conflict and the business for disaster. Amish Effect: that’s where Mom and Pop, the Amish farmers, […]

Cash In: Long Term Ramifications of Hostage Situations

September 28, 2014

Before you decide to give up half your business to someone and become a hostage because they are willing to do what you aren’t (selling for instance), understand the ramifications for the long-term results don’t usually work out well. Most common reason for a joint ownership I see, outside of inheriting the business that way, is that […]

Navigation is Essence of Business Success

September 27, 2014

Business success is like white water rafting down a raging stream without getting impaled on the rocks. At its core, our success depends on our business skills to navigate.  “We are swamped with work and struggling to keep up. I know, it’s a good problem, but it is still a problem! Accounts Receivable is at […]

Cash In: Premature Business Transition

September 25, 2014

In the case of internal Business Transitions, I advocate businesses being “sold” to the next generation, not gifted nor inherited. This avoids many issues among siblings and family; it avoids multiple complications of “one of these days this will all be yours if you just do what I say”; and, often, the parents need the […]