Ohio Business Coach Ralph Berge » family business planning http://www.ralphberge.com Top Ohio Business Coach Tue, 26 Apr 2011 20:48:29 +0000 en hourly 1 http://wordpress.org/?v=3.1 Build Survival into Your Business… http://www.ralphberge.com/195-build-survival-into-your-business.htm http://www.ralphberge.com/195-build-survival-into-your-business.htm#comments Mon, 25 Jan 2010 13:59:26 +0000 Ralph Berge http://www.ralphberge.com/?p=195 Successful business owners share many admirable qualities. They are smart, hard-working, and focused. Unfortunately, despite the hard work factor, Dun & Bradstreet reports that only nine percent of small businesses, with fewer than twenty employees, survive for ten years.  

Running a small business takes an inordinate amount of time and energy, which often leaves owners too distracted to focus on other areas of their lives, which causes many family business problems. When a business is a key component of family wealth, however, it is critical to incorporate family business succession planning to secure its long-term stability. After all, for most business owners, the business represents their single most valuable asset. Generally, it constitutes 90 percent of their wealth. Taking steps to safeguard a business, such as developing a  business exit strategy, helps ensure its long-term survival and success and protect an asset that often represents a life’s work. 

Invest your time in building your business by talking with Ralph Berge, Cleveland business coach about family business planning.

]]> http://www.ralphberge.com/195-build-survival-into-your-business.htm/feed 0 Part – 10…Five MORE Things to Consider When Selling Your Business http://www.ralphberge.com/112-part-10%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm http://www.ralphberge.com/112-part-10%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm#comments Mon, 18 May 2009 14:45:11 +0000 Ralph Berge http://www.ralphberge.com/?p=112 Here are the final five items on our list for family business succession/ exit planning. If you have been following my blogs in recent weeks you have a developed a list of 50 things to consider when preparing to sell your business. The process takes time but I can assure you it is a valuable investment in your business and your future. Check out the list and then invest your time in building your business by talking with Ralph Berge, Cleveland business coach about family business planning. Call me 440,838.0991 or email me ralphberge@actioncoach.com I’ll send you the entire list of 50 Things to Consider When Preparing to Exit Your Business.

 

1.       Consider lease vs. buy for equipment

2.       Total cost analysis of products / services

3.       Consider selling the business separate from the real estate

4.       Calculate inventory carrying cost

5.       Think like the buyer

]]> http://www.ralphberge.com/112-part-10%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm/feed 0 Part – 7…Five MORE Things to Consider When Selling Your Business http://www.ralphberge.com/106-part-7%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm http://www.ralphberge.com/106-part-7%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm#comments Mon, 11 May 2009 14:39:57 +0000 Ralph Berge http://www.ralphberge.com/?p=106 Studies indicate that the average business sells in 6 to 18 months from start to close. Once a letter of intent has been signed, the due diligence and closing process usually takes 30 to 90 days.

 

How can you as a business owner keep the sales process moving forward? Family business succession planning should start years in advance of the sale. It can begin with a simple “to-do” list.  Consider these five thing as the beginning of your  list:

 

1.       Hire competent advisors and understand their roles

2.       Screen potential buyers

3.       Differentiate your business by creating a niche

4.       Make sure partners / decision makers are on board with the decisions

5.       Plan for training and transition

 

Invest your time in building your business by talking with Ralph Berge, Cleveland business coach about family business planning.

]]> http://www.ralphberge.com/106-part-7%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm/feed 0 Part -3…Five MORE Things to Consider When Selling Your Business http://www.ralphberge.com/98-part-3%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm http://www.ralphberge.com/98-part-3%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm#comments Fri, 01 May 2009 15:32:32 +0000 Ralph Berge http://www.ralphberge.com/?p=98 Business succession management means your exit plans need to be clear in not just in your own mind, but in a written document that explains how your business operates. Working “ON” your business means working on these five things:

1.       Cross train employees

2.       Create employee manuals

3.       Understand the sales process and timeline

4.       Emotionally detach from the business

5.       Remove non-operating assets

Invest your time in building your business by talking with Ralph Berge, Cleveland business coach about family business planning.

]]> http://www.ralphberge.com/98-part-3%e2%80%a6five-more-things-to-consider-when-selling-your-business.htm/feed 0 Build Long-term Stability and Survival Into Your Business http://www.ralphberge.com/65-build-long-term-stability-and-survival-into-your-business.htm http://www.ralphberge.com/65-build-long-term-stability-and-survival-into-your-business.htm#comments Fri, 10 Apr 2009 15:00:41 +0000 Ralph Berge http://www.ralphberge.com/?p=65 Successful business owners share many admirable qualities. They are smart, hard-working, and focused. Despite the hard work factor, Dun & Bradstreet reports that only nine percent of small businesses, with fewer than twenty employees, survive for ten years.  

Running a small business takes an inordinate amount of time and energy, which often leaves owners too distracted to focus on other areas of their lives, which causes many family business problems. When a business is a key component of family wealth, however, it is critical to incorporate family business planning to secure its long-term stability. After all, for most business owners, the business represents their single most valuable asset. Taking steps to safeguard a business can help ensure its long-term survival and success and protect an asset that often represents a life’s work. 

Invest your time in building your business by talking with Ralph Berge, Cleveland business coach about family business planning.

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