Experts say best succession plans prepared in advance, not out of last-minute necessity or tragedy Mylese Tucker never considered having a succession plan for her business, Nature’s Cupboard, until she served on the board of the Independent Natural Foods Retailer Association. One of the group’s first strategic goals was to implement a succession plan. “We […]
Owners usually have two choices when considering how companies will go on without them Succession planning is vital to the continuation of any business. And when there are multiple owners—partners, members, shareholders—no single document is more important than a comprehensive, up-to-date buy-sell agreement. Failure to have such an agreement adds confusion and stress at the
Companies can find wealth of free resources at public libraries A public library might be viewed by business owners and working professionals as irrelevant to their needs. They might even see them as merely a place for young families, students and retirees to borrow books or as a place to hang out. However, hidden behind
Solid succession strategies keep companies growing, prospering Pete Korellis knows his business and those who work for him will be taken care of long after he decides to step away from his company. He recognizes succession plans are vital for entrepreneurs to ensure their businesses thrive in the future. “A well-thought succession plan is one
Considerations when choosing a bank Almost all of us utilize a bank’s business every day. Of the many factors that play into the choice of which bank to use, the following are a few to consider: Location Lending staff – accessibility and knowledge of your business Ancillary services – wealth management, IT and Deposit Fraud
How to make the most of an intern Hiring an intern can be an easy decision but, as any manager knows, how to best utilize one can be tricky business. “Planning is key when embarking on an internship program in order for it to be successful for the employer and the intern,” says Janet Boston,
The coming year promises to be an economic rerun of 2016 The performance of the U.S. economy in 2016 has been anything but stellar. Growth through the third quarter averaged a paltry 1.8 percent, signaling the domestic economy has settled into a period of low GDP growth. A more rapid recovery seems unlikely given the
It takes a written policy, backed by training and education. We spend a significant amount of our waking hours at work. For some of us, we live to work. For others, we work to live. In every instance, the workplace is a key part of our lives. Successful employers know that a workplace that is
It’s a great marketing tool, but it’s also a source of significant risk. For most companies, social media is a cheap, effective marketing tool, which is easy to access, manipulate and maintain. But social media traits that benefit companies can also expose them to a myriad of legal risks. * Ensuring Your Company Owns and
Business owners need to safeguard access to commercially valuable data. The late twentieth century composer and conductor Leonard Bernstein wrote his much anticipated memoir “Blue Ink,” leaving it hidden behind various levels of passwords. In the 26 years since his death, no one has been able to decrypt the manuscript. This is an example, albeit
