"Management" Posts

What every seller should know about a business sale transaction.

The statistics and projections are staggering:

• It is projected that the number of new businesses will increase by 22% every five years.
• “An estimate of 65% to 75% of all small businesses will go up for sale in the next five to 10 years. Why? Retiring baby boomers.” – Inc. Magazine, April 2008.
• A PricewaterhouseCoopers survey confirms that one out of every two company owners intend to sell their businesses within the next 10 years.
• The Exit Planning Institute projects that in the next 12 to 15 years, in excess

Fiduciary Duties of Directors and Officers of Closely Held Corporations

As a controlling shareholder of a closely held corporation, were you ever tempted to take a higher salary in a profitable year even if it meant decreasing bottom-line profits available for distribution to other shareholders? Were you ever tempted to do a “side job” and take cash for yourself, rather than running business through your corporation? Have you ever claimed lack of knowledge of internal financials and tax returns as a defense against early detection of wrongdoing? If so, think again before acting on these temptations, as you don’t want …

Many start-up companies fail within the first few years. Learn how to establish a game plan and make a profit.

Imagine five basketball players that never practice, have no game plan or a backup in place to allow for change should something go wrong during a game. Should they expect to meet a professional team on the court and win? You are probably laughing because it would never happen. However, imagine you have an idea or think you have a better way to accomplish a goal than someone else. What do you do? You gather some money and away you …

By Dan Schneider as featured in Construction Today

Owners can make SIX CRITICAL MISTAKES in managing their businesses. Are you making any of them?

Surviving in today’s business world is more difficult than we have witnessed ever before. Small- and mid-sized businesses are failing at a rate that has not occurred in more than 60 years. An analysis of the reasons for this high rate of failure quickly points to the following fundamental errors made by business owners.

A passive sales process.

Business owners rely on their existing relationships—usually one or two customers—to provide them with enough business to pay …