Planning to sell your business? An FAQ

15 FAQs people ask about planning to sell your business How far in advance should I start planning? When should I realise my investment in a business? Do I need to sell out if I want to retire? Will I have to retire when I realise my investment?

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There’s common sense and then there’s legal sense. In this FAQ, a British law firm makes both common and legal sense, and much of it applies to American companies contemplating an exit solution.

Farm Family Business: 5 Top Tips for Your Exit Strategy

The capital-intensive nature of agriculture, coupled with the unique income tax treatment of our industry requires both thoughtful and detailed technical planning as you ponder your next chapter.

Considering an exit from the farm or ranch can be just a little overwhelming. Not only do you have to think about who will take over and whether they are ready to do so, you have to analyze myriad financial and tax issues, assess your own mental readiness to let go, and perhaps even reach agreement with your significant other on what you will do with your “free” time. No wonder some people hang on too long!

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Ag business is no different from any other enterprise when it comes to exit solutions. We like the points in the article because they apply broadly to small and medium businesses.

Angela Ahrendts treats Apple Store employees like execs, retained 81% of workforce in 2015

Apple Stores saw employee retention rates of 81 percent coming out of 2015, the highest ever recorded according to retail chief Angela Ahrendts, who attributes the statistic to a feeling of connectedness unique to Apple.

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Just amazing. Treat employees like the important people they really are, and retention soars.

Selling Your Business Internally: Ensure Your Legacy Continues

Many business owners would prefer to see their business go to someone they know, such as key employees, partners, or family members in order to ensure that their legacy continues.

There are many benefits of selling your business internally that should not be overlooked:

  • Insiders already know the business, which means less disruption and a smoother transition.
  • Owners can negotiate a level of involvement that fits with their own personal goals.
  • Internal sales may be structured in a more tax-efficient manner that mini­mizes owner risk and keeps more of the proceeds in the seller’s pocket.
  • Loyal partners, employees, or family members are more likely to carry on the seller’s legacy than outside buyers would.

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BTA’s article offers solid advice, invites you to a free seminar and offers a downloadable white paper.

Succession planning in family owned companies

Succession planning in family owned companies is a long-term process that takes time. It is important to devise an exit strategy…

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From the tiny Mediterranean nation of Malta (just south of Sicily) comes insight into exit solutions for family-owned small businesses. We like these insights.

Make Employee Engagement a Strategic Priority by Focusing on These 4 Things | The Disney Institute Blog

At Disney Institute, we believe that by intentionally overmanaging – or paying extraordinary attention to – certain critical human resources processes, an organization can create and sustain a workplace culture comprised of highly engaged employees.

According to HR Magazine, employee engagement and retention will be the number one issue for most organizations in 2015. Here are the four interconnected processes that, when intentionally designed and nurtured, can help to create a “culture by design.”

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A quality article by a serious group. Worth the read.

4 Ways to Boost Employee Retention: An Infographic

Look around your office and imagine that 3 of 10 people
you encounter each day will move on to another job this year.

If my math is correct, a 7,500-person company can expect to shell out over $22 million within the next 12 months to replace 30% of their non-managerial work force.

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A 7,500 person company is not a small or medium business. However, the rich infographic in this article applies to all but the smallest businesses.

5 Practices Every Small Business Owner Should Master

As an incentive to subscribe, EndGame Success has prepared this action-oriented guide for business owners. EGS asks only for your first name and e-mail address in exchange for a link to download the guide, written by company founder and exit strategy coach Alan Mischler. Click here to get it.

Employee Recruitment Strategies: How to Attract (& Retain) Top Talent

First of all, it’s important to remember that many people prefer to work for small businesses. As long as you can demonstrate the other benefits of working for you, wooing them away from an opportunity with a larger corporation may not be as difficult as you think. Top talent, especially those who have worked for large companies in the past, appreciate small business culture.

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Huffington Post article is spot on. A good read!

How to Prepare to Sell Your Business Simply in 2016

72% of experienced business brokers recently interviewed stated that most business owners don’t allow enough time for an effective sale. As a result, the business ends up failing to sell, or selling for less than it could have because the sale was rushed.

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EGS stresses the need to give yourself a substantial amount of time to prep your business for sale. Starting a new business? Create your exit strategy in the initial business plan…