Succession planning has been a hot topic in business planning conversations for years but the focus is often on longer term retirement planning answering questions like “Who will be the next CEO?” and “How will ownership transfer?” Most businesses, though, do not spend a lot of time planning for the “emergency” succession. “What is ‘emergency’... View Article
We often have clients who are in business with others – commonly called “partnerships” even though they are more likely “members” or “shareholders” than partners — where all the partners are working in the business. The elephant in the room for many of these partnerships is whether the relationship will work and what happens if... View Article
On May 11, 2016, President Obama signed the Defend Trade Secrets Act (DTSA) into law after flying through both houses of Congress with a near unanimous vote – quite a feat in a highly polarized legislature. Why the relative ease you may ask? Both the President and Congress have emphasized the importance of protecting American... View Article
After a few years of growing and moving my business forward, I remember a point where I felt I didn’t have the knowledge to make smart growth decisions for my business on my own. As a sole owner, I didn’t have anyone who could help me understand what I could or should do differently to... View Article
By Victoria Bartow On April 1st, significant changes are taking effect regarding Seattle labor standards. An overview of the changes and current Seattle laws is provided here by the Seattle Office of Labor Standards (OLS). Some key changes are discussed below: Notice of Employment Information: By April 1st, employers should provide employees (new and existing) a... View Article
Over the years, I’ve seen many families find joy and success in working together in a family business – and of course, some that have struggled to maintain balance between these two intertwined parts of their lives. So what’s the secret to success? First and foremost, I would say a recognition of the fact that... View Article
Yeah, we’ve all heard it – you must work “on” your business not “in” it. I’m a big believer; yet I found it, as many business owners do, really tough to execute upon. The reason why? Because it’s easy to find the things that need to be done in day-to-day operations. We know how to... View Article
By Lauren Burgon Washington State’s new Limited Liability Company Act went into effect on January 1. While some of the changes are minor, there are changes that could have a significant impact on an LLC that has not updated its Operating Agreement, or hasn’t gotten around to implementing a written Operating Agreement in the first... View Article
When talking with clients about their annual goals, cash flow and fundraising is a common theme. Many are looking for growth capital and are keen to bring on investors. To them, investors = money and money is good. But there are many factors to consider when thinking about investors for your business. 1. What kind... View Article