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Category: Transitions

Family Business Transitions – All in the Family or Letting It Go?

In this issue, we look at some of the common issues faced when family business owners consider transferring ownership to the next generation. Mark has been working full time in the family manufacturing business since he was 18 years old – he is now 42.  His parents started the business when he was 7 – it was his part time and summer job as a teenager, and he juggled time at the plant with getting his college business diploma.  His parents are now in their mid-60’s and it has always seemed a foregone conclusion that Mark would take over the family business from his parents. But Mark has a number […]

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Success Should Not Be a Surprise

When Canadian tennis sensation Eugenie Bouchard reached the Wimbledon Women’s Singles Championship game, after being ranked just 133rd in the world in 2013, a reporter asked how surprised she was at her success. “It’s not like a surprise to me — I expect good results like this,” she said.  “I’ve put in a lot of hard work and it’s been kind of years in the making to me.  So I believe in myself and I expect good results.” Success in tennis was not a surprise to Bouchard, and success in exiting a business should not be a surprise to business owners or their advisors. With hard work and preparation, good results should be expected.  The […]

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Waiting on the “Big Wave!”

I hate waiting.  Waiting for my meal to come, waiting for a cheque in the mail, waiting for my teenage daughter to come home with my car.  I am lucky that I don’t surf, because I expect I would hate waiting for that next big wave. From comments I hear almost daily, purchasers of businesses hate waiting too.  Like surfers perched impatiently on their boards, they have been told for several years that the BIG WAVE is coming. In 2007, Richard Jackim wrote one of the bibles of exit planning, “The $10 Trillion Opportunity”, in which he shared the prediction of economists and demographers that, “over the next 10-15 years, […]

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