Author: Charles Kedra

Family businesses have a unique charm and a rich legacy. They often represent generations of hard work, dedication, and shared values. However, ensuring a seamless transition from one generation to the next is no small feat. There’s an art to family business succession. Here are some key things to focus on. 1. Start Early One… Continue reading Passing the Torch: Family Business Succession Done Right

Planning for the transition of your business is not just a milestone; it's a pivotal moment that can significantly impact your legacy and the future success of the company. Whether you're preparing for retirement, exploring new opportunities, or passing the torch to a successor, mastering the art of business transition planning is essential for ensuring… Continue reading Smooth Sailing Ahead: Mastering the Art of Business Transition Planning

Understanding Your Personal PurposeBefore goals comes purpose (per Chris Snider in his book Walking To Destiny). By understanding your personal purpose, you set yourself down a path toward a more fulfilling life after you exit your business in the future, while also creating a more meaningful life in the present. Before you exit your business,… Continue reading The Purpose and Balance

Dad’s or mom’s office is usually perceived as the center of authority by employees and family members. When a parent is handing off operating responsibility, there is often a lag, sometimes measured in years, between stepping back from daily decisions and completely separating from the company. This lag is valuable because you have the owner’s… Continue reading Family Succession Planning: Who Gets The Office?

Most owners don’t like the word “exit”. Talking about it makes them feel uncomfortable. It’s the elephant in the room. I can somewhat understand. A life insurance salesperson doesn’t start with “so let’s discuss what happens when you die”. For owners, leaving the business is a little bit like death. Your company has been the… Continue reading Avoiding the Word “Exit”