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 […]
John Ward (B.A., M.B.A. and Ph.D.), a pioneer in the area of Family Enterprises and respected authority on a plethora of topics, researched Illinois manufacturing companies about fifteen years ago. His somewhat narrow sampling concluded that 30% of family businesses make it to the second generation, 10 – 15% make it to the third and […]
Would it surprise you if I said that Illinois will continue to cut funding for social services? Probably not. But the question is – who will fill in the gaps? To answer that, let me go back in years. “Service Above Self” was the motto of the 2nd General Hospital in Landstuhl, Germany. It really […]
Americans continuously differ on many topics and issues because we each look at the outside world from our own unique perspective. There is nothing wrong with that! However, when the disagreements escalate from a business or very personal relationship, I recommend conflict resolution as soon as reasonable. Why should two or more people seek mediation? […]
This brief summary highlights three of my views on the dangers associated with not having a business continuity plan. A company could fail with an ad hoc, non-documented plan of succession strategy. The reality of a business valuation tumbling is only accelerated in situations where unplanned exit plans don’t exist. Because it is unplanned, you […]
Three twenty-minute educational talks for company co-owners, their families, and trusted advisers. Harry suggests multiple topics to review key stages for a business; start, adjust & protect. For more information about complimentary speeches, click here.