Exit Planning vs. Succession Planning For business owners, terminology pertaining to planning services can be a little confusing. Many owners believe exit planning is the same as succession planning, but they are not. Succession planning is the process of identifying successors from inside the business and developing their skills and business acumen so that they… Continue reading Planning for a Business Transition
Business Succession is Inevitable
Whether it happens by design or by default, the ownership status of every business will transition and change. Those transitions that happen by design (continual, thoughtful planning) will be smooth and rewarding. Those that happen by default will be a mess. There are over 5.5 million family businesses in the United States and they employ… Continue reading Business Succession is Inevitable
Helping Family Businesses Prosper
Helping Family Businesses Prosper Across Generations By David Karofsky The Family Business Consulting Group Have you ever experienced someone in your business whose oversized sense of entitlement has given them an inflated idea of their abilities and what they are owed? What if that someone is your child (and potential successor) in your business? “Born… Continue reading Helping Family Businesses Prosper
Selling Your Business: Basic Things You Need to Know
What is EBITDA? – Buyers regularly use the term EBITDA (earnings before interest, taxes, depreciation and amortization) as a standard term to assess a company’s profitability and an indication of a company’s underlying free cash flow. EBITDA can give a relatively clear reflection of a company’s true operating performance by ignoring expenses that cloud the… Continue reading Selling Your Business: Basic Things You Need to Know
The Convergence of Health & Wealth
Make the Right Medicare Choices Everyone becomes eligible for Medicare when they turn age 65. You must enroll when you are first eligible otherwise you will pay late-enrollment penalties. You can change your plan choices on an annual basis during the open enrollment period (October 15th – December 7th). Important terms you need to know:… Continue reading The Convergence of Health & Wealth
