Tag: family business

Growth Stages, Operations, Strategy, Team

How one family business navigates a big transition and sets up for more growth

Running a family business can be the same roller coaster ride as any small business. Yet there are different challenges too, much more personal ones. “With a family owned business, it’s not just the accounts payable, receivables and the bottom line. There’s also emotional capital, family, and that equation is […]

Operations, Strategy

Do you have a succession plan in place for your small business? More than 70% do not.

Succession planning isn’t just for family businesses and large corporations. Many small business owners don’t plan for what will happen to their companies during a prolonged illness or after their deaths. Unforeseen circumstances could put their businesses at risk of shutting down. I’ve seen it happen, unfortunately. The young owner […]