“If you don’t know where you are going any road will take you there.” -The Cheshire Cat
As the wily feline wisely suggested to Alice, knowing where you are going is the key to knowing how to get there. At no time is this more true than when a business owner is...
The successful business owner needs to be able to multi-task, including in the area of succession planning. As noted in the previous post, business owners need to develop and then implement two different succession plans, one for crisis management that applies in the event of an emergency, and a second one that transitions...
Unlike public company stock, which actively trades electronically on national exchanges at published prices, ownership interests in private companies, and minority interests in particular, are often not readily marketable. As a result, determining the value of an ownership stake in a private business can be a thorny problem. Business owners and investors who...
Conventional wisdom is not always so wise. In the case of divorce, conventional wisdom holds that the divorcing couple must divide all of their assets at the time of divorce. When the couple owns a business together, however, splitting up their business in the divorce proceeding often leads to intense disputes over the...
One of the NFL’s most legendary football coaches, Vince Lombardi, is known for fiery speeches extolling his players that “Winning isn’t everything, it’s the only thing.” Yet, when triumph on the battlefield is so costly it actually destroys the “winner,” it is known as a...
Part 1 of this series focused on how private company owners can make their businesses attractive to private equity (PE) investors like those on the hit TV show “Shark Tank.” The discussion picks up after the PE firm has made its investment and the Post considers what steps private company owners can...
For years, use of the term shark in a business context referred to unsavory characters such as shady lenders, sketchy lawyers and unscrupulous business people. More recently, the success of the hit reality TV show “Shark Tank,” has given sharks a Hollywood make-over, and a more positive image. The Shark Tank...
During a marital divorce, a couple can work cooperatively to divide the assets in their marital estate, including the interests they own in private businesses. Things become much more challenging in divorce proceedings, however, when one spouse seeks to retain control of marital assets by continuing to control interests that are held by...
In the National Football League, quarterbacks may receive too much credit when their team wins and too much blame when they lose. It is easier celebrate or criticize the person we consider the face of the franchise. Perhaps this tendency comes from our experience in business world where the success or failure of...
