Much of our work at Family and Business Success (FABS) empowers our clients by providing new information and processes that support their existing systems. From a very young age, I told anyone who listened that I wanted to grow up to be a teacher or a lawyer; well, I did both. Education is the business of...
I had a client describe the difference between a hiring a technician and an advisor just last month. We will call this client Mr. Jacobs. Mr. Jacobs called me to tell me about a hiccup he had with his new accountant.
Today’s Top Producer Seminar session I want to report on is about how to cultivate the next generation for the transition of management and ownership. This was taught by Danny Klinefelter, of Texas A& M University and a leader in the T.P.A.P. program.
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.
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.
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.
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.
Event for 20 Group
ARVC Outdoor Hospitality Conference and Expo
Raleigh
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Executive Women in Agriculture Convention
Chicago
Top Producer Seminar
Chicago
CARVC Conference and Expo
Myrtle Beach
Wisconsin Association of Campground Owners Convention & Trade Show
