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Monday, September 17, 2018

 

Via Fast Company, by Vivian Giang

Negotiation in the best of circumstances is a delicate balance and often nerve-wracking for all parties involved. But attempting to make deals with difficult, uncooperative parties can quickly escalate to a headache-inducing debacle.

 

When it comes to dismantling the toughest bargainers, one persuasive tactic William Ury, cofounder of the Harvard Program on Negotiation, writes about in his... Read More

Monday, September 17, 2018

 

Via Fast Company, by Gwen Morgan

You feel it coming—the malaise, fatigue, irritability, and lack of interest. It’s tougher to motivate yourself to do what you need to do. You’re heading toward full-fledged burnout. But the bad news is that you have zero flexibility to take time off to deal with it.

 

“When you’re talking about burnout, you’re talking about a spectrum,” says Paula Davis-Laack, founder of the Davis Laack Stre... Read More

Thursday, September 06, 2018

We all know the old saying our parents told us – “when you assume, Daniel, (I always knew I was in trouble when my parents used my formal first name), you make an (fill in the blank) out of you and me.   

The road to conflict in a family is paved with assumptions.  (It’s also paved with perceptions, triangular conversations, and dead beat son-in-laws, but we’ll cover those topics later)

At the very top of the list of Assumptions that kill a family business is this on... Read More

Thursday, August 16, 2018

Exit Planning can be complex. Between setting your exit goals and transferring your business, you’ll attempt to build business value, find an appropriate successor or buyer, navigate perplexing tax implications, and keep your key employees onboard. And that’s just a few of the things you’ll do! With so many considerations surrounding your business exit, you may want to consider creating an Advisor Team. Simply put, no single advisor has sufficient expertise to create and implement all of the activities required in a typical Exit Plan. To give yourself the best chance to exit your business on your terms, you’ll likely require the services of several advisors from different fields. These ma... Read More

Thursday, August 09, 2018

By Dan Beenken, Advance Iowa program Director

August, 9, 2018

​ Mixing family and business – is often said to be a dangerous proposition. While that can be true, it doesn't have to be. Iowa’s economy is built on longstanding, family owned firms – so we know it’s not impossible. The key ingredient to harmony? Structure. I know most people don’t like it and would rather float along without it. But in a family-owned company, its crucial. Planning, designing, AND communicating that structure can go a long way toward reducing conflict for the next generation. Stats are often cited that less than 1/3 of all family businesses survive to the 2 nd generation, and of those, less tha... Read More

Thursday, August 02, 2018

By Casie LeRette, Advance Iowa Program Assistant

 

 

To us, the benefits and importance of family businesses networking together are clear. Our mantra ‘family businesses are  different’, is not just a catchy phrase. We believe family businesses are different due to the result of the unique challenges during their start up, and those which continue through the life of the business. While every b... Read More

Tuesday, July 31, 2018

Exit Planning can be complex. Between setting your exit goals and transferring your business, you’ll attempt to build business value, find an appropriate successor or buyer, navigate perplexing tax implications, and keep your key employees onboard. And that’s just a few of the things you’ll do! With so many considerations surrounding your business exit, you may want to consider creating an Advisor Team. Simply put, no single advisor has sufficient expertise to create and implement all of the activities required in a typical Exit Plan. To give yourself the best chance to exit your business on your terms, you’ll likely require the services of several advisors from different fields. These ma... Read More

Monday, July 16, 2018

By Jason Daley, Magazine Contributor via Entrepreneur

 

When Jon S. Crowe invited his son, Jon P. Crowe, to take a road trip from their home in Omaha, Neb., to Whitewater, Wis., neither of them had ever, for a second, thought about working together. The elder Crowe was heading east to learn more about the Toppers Pizza franchise business and just wanted his then 25-year-old son, who was working in retail at the time, along for company. “Working with my dad did not cross my mind,” Jon P. says. “I was there looking out for him and our family. I just wanted to put my two cents in.”  Jon S. had long known just how suited to running a business his son was. Jon P. was levelheaded.... Read More
Monday, July 16, 2018

Planning a business exit can seem like a lot of work at first. From building business value to developing capable successors to figuring out exactly what you want to do with your life after you leave, Exit Planning might look like too much work for one person to do. In our experience, Exit Planning isn’t something that business owners can tackle alone if they want to exit on their terms. But with so much to do, where can you start? One way to begin the Exit Planning Process is by writing your Exit Plan down. Writing your Exit Plan down can provide three potential benefits when done properly. Increasing Clarity, Accountability, and Chances for Success Written communication is often clearer... Read More

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