Strategic Planning Best
Practices Magazine Articles
Family Business – The Tie that Binds
A Written Code of
Conduct May Pave the Way
By Dan Maloney CPA CFP
Published: December 2007
Many business owners struggle with the decision whether
to keep or to sell the family business, due to lack of
apparent successors. The procrastination is a common
issue in family businesses and should be expected. Major
reasons for indecision are inadequate succession
planning and faulty perceptions as to the “family rules
of conduct.” Qualified successors to the CEO role may
not have been identified or may not have stepped forward
because expectations surrounding their working in the
business may not have been communicated. It is very
possible that the unwritten Code of Family Conduct (all
family businesses have one) implies that members should
wait to hear from the CEO before asking questions.
Selling Your Family Business?
Get Ready – Get Set - Go
by Dan Maloney CPA CFP
Published: November 2007
GET READY.
Deciding whether or not to sell the family business can
be a much more difficult decision than the decision
initially made to invest time, effort, and money to
start the business. Why? It’s because both the pressing
everyday business needs and the sometimes volatile
family emotions come into play. Even if the founders can
get past the formidable obstacles of dealing with other
family members’ concerns, changing dreams and possible
objections, they still have to deal with their own
separation anxieties – all while trying to stay focused
on the business.
Are you ready for Shore Leave?
Taking Business
Globally
By John Lowe
Published: October 2007
Globalization: Process by which the experience of
everyday life, marked by the diffusion of commodities
and ideas, is becoming standardized around the world.
Factors that have contributed to globalization include
increasingly sophisticated communications and
transportation technologies and services, mass migration
and the movement of peoples ..." Britannica Concise
Encyclopedia.
If you
put your heart and soul into running your business, it
makes sense to get the most out of it. Salary is an
obvious way to compensate yourself, but a few planning
strategies can help maximize your take-home dollars and
your business.
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