Our Business Consulting advisors answer a recent question one of them received, below: Question: I am considering selling my business. How do I know I’m choosing the best strategic partner? Answer: Choosing an effective partner begins with knowing what you want to accomplish and why. Identifying these goals from the start will help you to […]
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If you have invested years in building a business, it is likely you want to maintain your company’s impact into the future. While there can be great personal gratification in building something of substance that has a lasting impact, we believe that preserving legacy is significant from a biblical perspective, too. We teach that legacy […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I’m considering a possible sale of my business. How do I know if my company is ready for a sale? Answer: For leaders exploring an external transition, it is important to start with a clear vision. Identifying why you are selling […]
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Creating an Effective Workplace Culture Organizations seeking to attract and retain exceptional employees understand that corporate culture has become an increasingly critical component of job satisfaction. In fact, a recent article in Forbes called 2022 the “year of workplace culture.” 1 An organization’s culture defines behavioral expectations within the company and is shaped by the […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: The company I lead has a hard time following through. How can we improve in this area? Answer: This is a common occurrence in many organizations we’ve worked with. We have seen that when leaders adopt the following practices, plans are […]
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Applying wisdom to the decision-making process during an internal transition can reduce the risk of uncertainty and increase the chance of success. In addition, business owners can transfer their wisdom and knowledge to the next generation of leadership through continuity and succession planning. To effectively transition the company’s wisdom role, business owners can develop: A […]
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Most business owners want to preserve the legacy they have built when their companies transition into new hands. In our experience, a business owner can effectively transition the company’s legacy by: Providing clear communication Cultivating a covenantal culture Developing a business generosity plan Preparing a financial plan Read more about leaving a lasting impact with […]
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Most business owners work hard to define and carry out their corporate mission. Preserving that effort and impact from one generation of leadership to the next is possible with purposeful planning. A company’s mission tends to center around people, putting practices in place to sustain relationships, culture, and positive influences. Some things a current leader […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I want to pass the family business to my children, but some of them aren’t in the business. How do I determine what is fair? Answer: One challenge we’ve seen in this situation is the friction between choosing the best steward […]
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Thinking generationally considers the future of both the business and the owner. Identifying the purpose of the business and the role it plays in employing and/or providing for the family can provide clarity about transition preparations. When owners consider their company’s unique characteristics and impact, as well what they will do in retirement, this also […]
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