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Managers and Imposter Syndrome: The 5 Profile Types

Before we get started, take this quick quiz: Do you feel like you tricked or manipulated your way into your current position?Are you anxious or worried about the day that your employees find out that you’re a fake or a fraud?Do you feel that despite other’s confidence in your abilities, you are more likely to fail ...

Business Transition Strategies: Sell Stakes to Partners

In our conclusion to our series on exiting your business, we’ll discuss the option to sell stakes to partners. You can read our strategy overview in our original post or learn more specifics about passing your company on to a family member, using ESOPs, selling to a third-party, and manager buyouts.  For business owners with partners, the option to sell stakes to ...
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Business Transition Strategies: Existing Manager Buyout

For those who want to sell their business, but are concerned about the impact to employees and operations in the event of a third-party sale, a manager buyout may be an option. Keep checking in throughout March for more articles about exiting your business! What is a Manager Buyout? When the time comes for a business owner ...
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Business Transition Strategies: Selling to a Third-Party

This week, we’ll give a brief overview of one of the most common options for transitioning out of your business: selling to a third party. Keep checking in throughout March for more articles about exiting your business! When you don’t have a family member or employee who is prepared to or interested in buying your company, ...
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Business Transition Strategies: Employee Stock Ownership Plans (ESOPs)

In this next installment of our series on business transition strategies, we’ll look at employee stock ownership plans (ESOPs). Keep checking in throughout March for more articles about exiting your business! Selling your business is never an easy decision, and not having an exit plan that meets your financial, personal, and professional needs make that choice ...
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Practicing Gratitude

Practicing gratitude may not be a common habit, but without gratitude, life is more challenging than it needs to be. Feeling grateful resets your perspective, and this is a gift you can give yourself each day. During these days of perhaps feeling isolated – you may find yourself feeling pessimistic or overwhelmed, a little gratitude ...
Passing your company to a family member creates a legacy asset

Business Transition Strategies: Passing Your Company to a Family Member

Last week, we overviewed six ways that exiting business owners could transition out of their role. Over the next few weeks, we’ll take a more in-depth look at all of those strategies, starting with passing your company on to a family member.  This option is tempting for many reasons. It allows you to remain involved, at ...
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6 Exiting Business Strategies to Make a Smooth Transition

Transitioning and exiting business owners have many tough decisions to make. In addition to the often emotional process of actually leaving your company, you must also prioritize creating the smoothest possible transition for partners, employees, your family, and yourself.  If you’re new to the world of being a business owner, it’s hard to think about the ...
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Define Your Personal Core Values to Help Fulfill Your Destiny

“‘Cheshire Cat,’ asked Alice. ‘Would you tell me, please, which way I ought to go from here?’ ‘That depends a good deal on where you want to go,’ said the Cat. ‘I don’t much care where,’ said Alice. ‘Then it doesn’t matter where you go,’ said the Cat.” ~ Alice’s Adventures in Wonderland, Lewis Carroll If ...
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Customer Diversification Increases Value and Protects Your Business

Protecting your business for the long-term is a major priority. It drives business owners to constantly strive for new ways to save, invest, and forge client relationships that help fortify the company.  Unfortunately, there are elements of the market that are out of control. While we can’t control every factor that could affect our clients, the ...