Business Concern

As difficult as it is to write out your values, it is also difficult to write goals from values. A goal will be a statement of where a business should be after the application of efforts toward the manifesting of the values statement. The hard work of writing a values statement is the basis for setting meaningful goals. The quality of planning decision-making is directly based on the work done wit...

Business owners making policy decisions are attempting to realize and experience a value proposition. Owners decide between options based on a perspective of personal values. Most business owners have not spent time thinking about their personal value systems. It is difficult to evaluate the soundness of a decision, if the value system it is to support and enforce is not clearly understood.

On October 7, 2020, a t the beginning of the eighth inning of the second game of the National League Division Series between the Atlanta Braves and the Miami Marlins , the Marlins' Corey Dickerson reach e s first base on an error. The next batter, Jon Berti, hit s a ball to right field in front of the Braves' right fielder, Nick Markakis. Charging hard, Markakis look s as though he would try to ma...

This simple hypothetical illustrates that group decision-making will consistently produce better decisions than individual decision-making. Business decisions, whether they be strategic or operational, are more complex than the decisions made in the hypothetical, and it is much more important that group-decision making be an ingrained part of the process of making decisions. The decision-making pr...

This evaluation process is not only for businesses with a written long-term plan in place (a small minority of private businesses). Not having a written plan in place does not mean that there is no long-term plan for a business. The plan occurs with various decisions being made and those decisions are communicated in a variety of ways and comes into being in informal and unwritten form. Whatever t...

Businesses that make consistently excellent decisions realize excellent business results. These businesses do involve the right people discussing the right things at the right time and then making well-communicated decisions. These businesses monitor decisions made and quickly revise decisions as is appropriate. The result is an honest formulation of goals and a perception of reality that creates...

If you have made a plan and even if you are very sure of your decision-making, you should expect that the plan will not be executed as you envisioned. This is not a valid reason to avoid planning. The reason that you should plan is not to predict the future. That cannot be done with any degree of consistency. Do not expect it to happen. The axiom that validates the benefit of planning: businesses...

You have worked very hard and created value in your business interest. You have made good decisions. That is an accomplishment, no question. Now, are you relying on fate or luck, hoping that the future will bode well for your business interest? Situations change and the actions that created progress in the past may not work to get you to the next point in the direction you want to go. What will yo...

Interview with Jim Karrh, a consultant who helps organizations turn their everyday business messaging into a consistent business advantage

Private business owners can fail to realize the benefits of starting and establishing a successful business if they fail to plan for their exit from the business. Patrick Ungashick is an expert at exit planning for private business owners.

The best practice for a business without planning implemented in the current crisis is to initiate a decision-making process to make the best decisions possible. This decision-making process is the foundation for implementing dynamic business planning. Using a decision-making policy to make significant decisions on a continuous basis will improve the performance of the business.

A discussion of how an understanding of the valuation of a private business forms a basis for deriving the maximum wealth from the business. Chris Mercer is a valuation expert and author of Unlocking Private Company Wealth.

Where there is a major transformation of the economy, be it recession, terrorism, or pandemic, the changes caused by the traumatic change also bring opportunities. What is the best way to recognize and take advantage of these opportunities?

Where there is a major transformation of the economy, be it recession, terrorism, or pandemic, the changes caused by the traumatic change also bring opportunities. What is the best way to recognize and take advantage of these opportunities?

For a private business owner, making decisions in a time of crisis will determine business success. Decision making on a deadline can produce quality decisions if the business has been engaged in business planning. If not, start the business planning process to make the best possible decision in a crisis.

The danger of these misconceptions is that they lead to poor decision-making. Opportunities are missed, and the value of the business does not reach the optimal thereby reducing the value to be derived from the business.

Bill Tucker, an attorney expert in estate planning for business owners, answers questions about how business ownership is transferred at death and how to plan for business succession.

If you had to sell your business right away, with whom would you speak? If there is no one who has already expressed an interest, you might contact competitors, vendors, customers, and perhaps business brokers. You would also talk to principal employees. What concessions would you have to make to get them interested and ready to act?

Rick Riebesell interviews Kurt Mueller on how financial planning is done, including the initiation of the relationship and how fees are charged. The concepts of investment risk and business risk are also discussed.

Wise private business owners understand that as fallible human beings – no matter how talented or brilliant – the articulation of ideas to another comprehending the problem is essential before the effective problem-solving strategy can be constructed. This discussion can establish whether the idea is based on an accurate perception of reality and logical thinking. The incubation of ideas requires...

Having other owners provides a founder-majority owner a way to establish a buy-sell arrangement; however, the presence of minority owners can affect the control of the majority owner.

Prior diligence installs processes that encourage managers and employees to act to maximize the value of the business with a philosophy of managing the business to sell the business.

The primary way to control a business is to accomplish an owner agreement with the other owners and provide leadership through policymaking by implementing a plan with an effective format.

For both the majority and minority interest holders of a private business, issues of value and control in certain foreseeable situations should be the subject of a written owner agreement based upon the written strategic planning of the business.

When owners of a private business attempt to negotiate owner agreements with buy-sell provisions, they are frequently confused concerning professional services available and how to implement an agreement without paying too much. This podcast is about the advantages of using a consultant.