In my last post, Is Your Company Ready for the Next Generation, I explained the importance of the first of seven phases that make up my 7 Steps to SuccessionSM process. In that blog, the cornerstone of the Founder (G-1) was thoroughly developed. This blog will focus on the Successor’s (G-2) first phase, or block, in […]
In a recent blog post, A Solid Foundation is Key for Succession Planning Success, I discussed what I look for from business owners BEFORE they start the succession planning process. Business owners need to clearly identify personal and family values, along with the business mission, vision and values, which comprise the foundation on which we […]
Have you ever entered a competition expecting NOT to finish? No, probably not. What would be the point? In some competitions you are going for the win. Think about all the athletes at the Olympics. No matter how much of a long-shot an athlete might be, he or she is putting everything into that competition. […]
The Shareholder agreement, also known as the Buy/Sell agreement, can contain provisions to cover a multitude of events. The most common events are when owners: Want to leave the business to take another full-time job Want to retire Get divorced or have family issues Become incapacitated or disabled Sell out for financial reasons (such as […]
Foun.da.tion: noun: an underlying basis or principle for something. From the Latin fundatio(n-), from fundare ‘to lay a base for.’ Have you ever played the game, Jenga? That is the game where players set up a patchwork of hard wood blocks to make a tall, square structure. Then players remove pieces, one by one, and put them […]
In my succession planning business, I use an arch to describe the 7 Steps to SuccessionSM in my process through the McCabe Arch. I have been asked why I chose an arch to describe this process. There are a few reasons for this: An arch needs a solid foundation. If it is built on a soft or […]
Next Monday marks thirty years since Martin Luther King Jr. Day became an official federal holiday, honoring Martin Luther King Jr. I invite you to join me to reflect on this champion’s persistence and vision for human rights, justice and equality, rather than only focusing on his is 1968 assassination. I remember when my next […]
If you are a business owner, you probably think about employees, customers, vendors, revenue, and profits on a daily basis. Any one area could keep you on your toes each day, right? With so much to think about and do, who has time to think about an exit strategy? That’s the last thing that most […]
Have you ever worked with someone who you agreed with 100 percent of the time? Chances are you probably haven’t. There will likely be some sort of disagreement along the way, even if it is minor. Co-owners of a business are no different. No matter how well they get along, they won’t agree 100 percent […]
I am thankful that Black Friday and Cyber Monday are finally behind us! Frankly, I am already tired of all the belligerent commercialism that surrounds this holiday season. It is very important for all of us to turn our attention away from the deals and deeply discounted price sales strategies and focus on the real […]