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
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
Our guest blog post today comes from Kris Gray, Founder and Director of Business Financial Planning, and Jodi Giles, Director of Legacy Planning, at Integrity Financial Corporation. They share why the current lifetime gifting limits make now an ideal time to transfer ownership to the next generation in a company. Small and medium sized family... View Article
Our guest blog post this week comes from Admand Wong of Integrity Financial Corporation. Admand will be a presenter at our upcoming Succession Planning Workshop on Sept. 28. ——————– Are you working in your business or are you working on your business? I can assure you this is not an article about grammar or vocabulary... View Article
The term “succession planning” most commonly describes a company’s planning for its future. The issues typically discussed revolve around who will take over the company’s ownership and management upon the retirement of the current owners or partners. These are critical planning elements for any company but succession planning must also address the unexpected events that... View Article
Our guest blog post comes from Kris Gray of Integrity Financial Corporation. Kris speaks about family businesses from two perspectives: as a service provider to family business owners and as a business owner whose partner is his mother, Julie. —————————————————— Michelle asked me to write a short blog about the strong working relationship among my... View Article
Our guest blog post comes from Steve Brilling, Executive Director of the Entrepreneurship Center and Family Business Roundtable at Seattle University’s Albers School of Business and Economics. ———————- It all comes down to communication—clear, concise, honest communication, with a dash of compassion thrown in. Whether it is in a legal document or simply a written... View Article
Experience is the best learning tool. Our guest blog post comes from Bill Altland, a family business owner of Whale Tail Pharmacy in Craig, Alaska. ———————— The word that comes to my mind relating to communication issues in family businesses is the word “insidious”. It can be difficult to separate the business issues from family issues... View Article
Our guest blogger this month is Lauren Owen, family business consultant and founder of Lauren Owen LLC. She will be co-presenting our seminar “Managing Family Business Relationships” on May 19. ——————————— The dynamics of a family business can sometimes cause what we call the “elephant in the room syndrome: unspoken topics that no one wants... View Article