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December 29, 2018
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Becoming — in 2019!

The Beginning.  The End. The In-Between. Get a pen and paper. Ready? As quickly as you can, without thinking, jot down everything that ENDED in 2018.  What was over? What did you give up on? What did you just plain STOP doing? What habits did you break? Make another list.  This time jot down everything you STARTED in 2018.  What began? What new habits did you adopt? What decisions did you make? What relationships started Which list makes you happiest?  Why? We are HUMAN BEINGS.  We are forever in the process of becoming the being we were meant to be.  We are getting closer and closer to fulfilling our life’s purpose. As one year comes to an end, reflect on the achievements, however big or small they may seem. Dedicate some time to creating a list of 10 or more positive, affirmative statements that you are becoming in 2019.  We…

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December 29, 2018
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December 26, 2018
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7 Keys for Succession or Sale

A lot of self-employed individuals never give a thought to succession or sale of their business. Often sacrificing resources, personal relationships and health to grow a successful consultancy or practice, the end of the business arrives with little fan fare and, unfortunately, often without their families by their side.  It doesn’t have to be this way! I’m using a parent – child analogy to illustrate the 7 keys.  Even if you are not a parent, at one time in your life, you had parents or caregivers who looked after you and raised you until you become 18. The “coming of age” is a similar process to starting up a business and growing it to the point of “18” – with grown up responsibilities. 7 Keys for Succession or Sale: Prepare for the experience from day 1. Keeping in mind that one day you will not be around, you have a vested…

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December 26, 2018
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Family holding hands against a sunset
May 29, 2017
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Yes, you ARE in a Family + Business!

What’s a family business? A family business is a commercial organization in which decision-making is influenced by multiple generations of a family—related by blood or marriage. They are closely identified with the firm through leadership or ownership. Owner-manager entrepreneurial firms are not considered to be family businesses because they lack the multi-generational dimension and family influence that create the unique dynamics and relationships of family businesses. … Wikipedia Other definitions are more general, describing a family business as one that is owned OR operated by one’s family.   Business families and family businesses fit into the 3 circle model shown below. Note:  We introduced the 3 circle model in a previous article FAMILY CIRCLE Family / Owner Intersection (4) – these members own shares of the business and are members of the family but are not involved in operating or working in the business.  They may have inherited shares, own shares…

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May 29, 2017
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small, business, smallbusiness, succession, success, entrepreneurs, entrepreneur
January 24, 2016
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3 Routes to Small Business Succession

I was talking to three entrepreneurs last month, all of whom had succeeded their parents in running a family business. These conversations always peak my interest because we operate in an industry that traditionally was 100% family run: agriculture. As a business owner, succession is a key conversation for you to have regularly with your coach and your leadership team. Replacing Yourself It’s human nature to think that no one can replace us. As a business owner, you may have several people succeed you as you move out of operations / production and into leadership / business development roles. When you are in “start up” mode, you are often doing everything. As your business and cash flow grows, you begin to either outsource or hire a team to replace you in various roles or tasks. You learn to focus on what you love and do well and those parts of…

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January 24, 2016
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Leveraging Your Success