Categories for succession planning

Four Tips before Selling Your Business

by | November 19, 2018

For most business owners, selling a business happens once in your lifetime.  You have worked hard to build the business from the ground up, and it’s been a central part of your life for years – perhaps even part of your identity.  Before you sell, you need to prepare both the business and yourself.  These... View Article

The Who and How of Planning Your Business Transition

by | June 30, 2017

In recent months, I’ve come across a number of business owners who are “not getting any younger” and are contemplating their transition out of their business.  Many don’t have that one person identified as the next in line for the business.  Maybe the owner has no children or the children aren’t interested in the business,... View Article

A Real Business Emergency

by | July 6, 2016

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

The Journey to CEO

by | February 2, 2016

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

Change in Business is Good — isn’t it?

by | March 4, 2015

Blog written by Michelle Bomberger, Equinox Business Law Group I’ve found so many quotes that tout the value of change in business: “By changing nothing, nothing changes” (Tony Robbins), “When in doubt, choose change” (Lily Leung), and “The best thing you can do is the right thing; the next best thing you can do is... View Article

The Confusion of Exit and Succession Planning

by | September 2, 2014

Blog written by Michelle Bomberger, Equinox Business Law Group The terms “succession planning” and “exit planning” are often used interchangeably among business owners and their advisors because in closely held businesses they are innately connected — owners are often also the leaders and executives.  However, they should be addressed by the business as separate plans... View Article