A major point of pride for successful business owners is how hard they worked to achieve their success. A common myth is that smaller, less complex businesses aren’t cut out for Exit Planning or that it’s too expensive. But as the backbone of the economy, smaller...
Unexpected events often have bigger risks for business owners than many other people. Family members, employees, and even communities can face devastating consequences due to a business owner’s death or permanent incapacitation. Fortunately, there is a way to mitigate...
Consider this scenario: A traveler wakes up in a foreign place with three items—the clothes on their back, a map in a language they can’t interpret, and 10 coins. As they begin walking down what they think is a path, a person approaches and says, “I can help you read...
Planning for a successful future can seem overwhelming. Where do you start? How do you make time? Which questions should you ask? Today, we'll present a process that can help you organize your thoughts and put you on a path toward a successful planning process. The...
As a business owner, is it a good idea to hire a "professional president" to keep various managers focused? Today, we'll present some potential benefits of a professional company president. Shepherding Success Successful business owners tend to run so many different...
For many business owners, the business is more than a means to make money—it's a part of their identity and a link to the past. This can make the idea of leaving it, and committing to the planning required to leave it successfully, very challenging. Consider the story...
Join us on December 6, 2023, for a dynamic and insightful webinar featuring a captivating conversation between BEI Founder, John Brown, and Dave Seitter, Attorney and Partner at Spencer Fane LLC. In this exclusive interview-style presentation, we’ll delve deep into...
We believe that success in business is determined not by how well owners run a business, but by how well the business runs without them. Picture two identical companies that: Move time-sensitive freight. Serve customers across the nation. Record $2M in EBITDA...
Business owners deserve to get full value for their businesses when they decide to retire. But who determines what "full value" is, and how do you create it? Let's look at three strategies you can implement to pursue and build your business' value. 1. Get a...
A common tragedy for business owners is facing a life-changing event, such as a sudden death or illness that devastates the business, without a plan. While these events may seem uncontrollable in the moment, the good news is that with foresight and planning, you can...
Planning for a successful future can seem like an event—a thing you do in the course of business. However, in many cases, this planning is much more like a relationship: with your loved ones who rely on you, with your employees, and with your advisors. When fostered,...
One of the biggest changes your business will inevitably experience is a transfer of responsibilities. Transferring important responsibilities to someone else can be exciting and nerve-wracking. Whether you’re transferring ownership to a family member, or departmental...
Many successful business owners are successful because they think about things differently than most people. Others may recognize your personal brilliance and say to themselves, “I wish I could understand how she does it.” This “secret sauce” can be a great...