Family Business Topics

The family business normally doesn’t need something to talk about.  The interaction of the members seems to bring out issues of opinions, whose right & wrong, what’s the best way to deal with a customer and many more for the imagination.  The other day someone asked me what I thought were the most critical issues […]

Review – David & Goliath:…The Art of Battling Giants by Malcolm Gladwell

Rarely does the entrepreneur find a book that supports the belief that the greater the odds the more the reward as Gladwell’s book on The Art of Battling Giants. Most of us have beliefs based on experience and education like the strong guy will defeat the little guy; a prestigious college will provide the better […]

Conferences – Why are you attending?

I believe there are primarily four reasons why you attend a conference: Education Networking New Ideas CPE/CLE credits Because of our workload, we don’t have much time to plan  other than selecting the courses we will attend.  Ideally, we try to include a mix of technology, new business and required courses in our selection. Networking can […]

Entrepreneurs – Growing your business

Some business experts believe if you don’t grow you will go backwards. Your definition of growth might be slower, faster, bigger or smaller than comparable companies but its OK because it defines how you feel . However, there is no magic formula or MPH for optimum growth. In most cases it  offers more opportunities for employees to […]

Choosing a Successor – Waiting Too Long

  Its understandable that some practitioners postpone choosing a successor.  They may view it as the end of their career and pending mortality. Some may  wonder how many clients will be lost if “they find out I’m retiring.” But consider some of the challenges your family, staff and clients could incur if suddenly you are no […]

Succession Planning for the Professional Firm

Posted by on Sep 12, 2013 in Entrepreneurs, Small Business Owner | 43 Comments

For many reasons planning for the next owner is difficult. The reasons are plentiful such as “I’m too young to think about it;” “I’m too busy with business problems;”  and “The right buyer will appear someday.” All of these reasons are valid but I suggest that succession planning is just as important as your initial […]