Business Continuation

Why do you want your business to continue past your ability or desire to work in your business? Is it to create wealth for yourself and your loved ones? Is it a family legacy that you want to see continue and flourish? How do you make the right decisions so that your business can continue? Should the business be run by a family member, by a hired C.E.O, a strategic employee, or sold to a third party? Who do you need on your team to help you make the right decisions for your business?

Amy Wirtz Attending Top Producer Seminar Designed to Help Farm Families Prosper

As many of you know, I have a special interest in the agricultural industry. I grew up in Fulton County Ohio and most of my classmates were farmers or people who made their living off of the agricultural industry. There is no more intricate family business than the family farm. The land is where they live and many are run by third and fourth generations.

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The Second of The Five Ds: Disability

We covered the first D-Death in our last blog. The following four articles will address disability, disaster, divorce and disagreement and their effects on a businesses. This article addresses the risks of both the family and the business with the owner who suffers from a short term or long term Disability. A Certified Exit Planning Advisor educates business owners on how to prepare the unknown and real possibility of the disabled business owner.

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Why Use the Team Approach When Doing Succession Planning?

Creating a good succession plan is a large project. The most common reason the plan is never completed is because the business owner does not know where to start. She often does not know how to make the time to work on the business while working in the business so she never gets to the project. It is my experience the owner often starts to hyper ventilate at the thought trying to manage all of the people who have opinions on when, how and to whom the business should be transferred so she give up.

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The Five D’s: Death, Disability, Disaster, Divorce, Disagreement

No, this is not a bad report card. The Five D’s are threats a company may face that could force the sale of a company or greatly diminish the value of a company. A Certified Exit Planning Advisor educates business owners on how to prepare for these risks. Business owners may not be able to predict when or if any of these events will occur during their term of ownership in the business, but with proper planning, the business can be prepared to deal with these unfortunate five D’s. The following five articles will address these five life-changing events and their effects on your family business.

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