Make a Succession Plan for the Family Business
Family Business Succession Planning: Make a definite plan. How will they support the parents and when can they take charge. That’s what they want.
6 Steps to Deal With a High Conflict (Bully) Business Partner
The High Conflict Business Partner AKA the Bully is the most difficult type of person to deal with. Here are 6 Tips to help you deal with the Bully Partner.
5 Red Flags That Say Your Business Partnership is in Trouble
Business partnerships can be a fantastic way to pool resources and knowledge in order to create a successful enterprise. However, even the most well-intentioned partnerships can break down if certain warning signs are ignored. In this post, I will point out the 5 red flags that should never be ignored when you see them in your business partnership and provide you with guidance on how to deal with them.
Plan for the Day a Partner Wants to Leave the Business
If you have read my other posts, you know I strongly encourage people who form Partnerships to create a Partnership Agreement. The document must specify how a Partner can leave the Partnership voluntarily while ensuring that the business is protected from two potential disasters: firstly, by avoiding terms that could bankrupt the business, and secondly, by preventing the admission of unplanned Partners.
Succession Planning in Family Business
Let’s look at how to plan for the next generation of your family to run your business. It’s never too early to make a succession plan and the earlier you start, the more options you have.
How to Escape Your Business Partnership
How do I get out of my partnership? And, it’s the biggest reason I am always ranting about having a Partnership Agreement. Without a Partnership Agreement, your options are very limited. You accept anything your partner is willing to give you, or you can dissolve the business.