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Business succession planning is an important process for helping to better ensure the smooth transition of business ownership and management. It involves identifying and preparing successors to take over business roles to prevent operational disruptions. Whether...
Divorce can be tough, especially when you and your spouse own a small business together. The business that you built together can become a contentious asset in divorce proceedings. However, there are several approaches that you can consider to manage this situation as...
Succession planning is often overlooked in the course of many business ventures, yet it can play a crucial role in helping ensure continuity and sustainability. The primary reason for implementing succession planning is to facilitate a seamless transition of...
Running a successful small business is a challenging endeavor. An owner or entrepreneur typically needs to learn all about the daily operations of the company. They need to develop a relationship with employees and pliers and a deep understanding of the history in...
Business partnerships face challenges. At some point, you and your partner are likely to experience a disagreement. Some disagreements can cause larger problems within the company. Fortunately, when you start a partnership, you can create strategies that help you...
Going into business with one or more other partners can be a highly promising prospect. It is an opportunity to pool your talents and resources toward a common goal, but it also opens up the possibility of clashing leadership styles. Disputes are a near-inevitability...
Going into business with another person requires a lot of thought and planning. Not only will you potentially be working with this person every day, but you will be making operational and financial decisions with them. Because there is so much at stake, it is...
You and your spouse are more than just a married couple. Shortly after getting married, you opened your own business together. You are business co-owners, both with a 50% stake in the company. You work together every day, though you do have a few employees, as well....
Going into business with another person is a serious commitment. You will have a direct influence on one another's schedules, livelihood and success for the foreseeable future. You have to be able to trust each other and have similar goals for the company for things...
Lots of small businesses forego counsel at their peril - not always because of conscious choice, but frequently out of naïveté. Owners and managers of businesses of all stripes often overestimate their personal talents in contracting by conflating their...
