Buy-Sell Agreements Keep Your Business Afloat Alex and Brad, both in their mid-forties, had just celebrated the tenth anniversary of Consulting, Inc., their market consulting business. The next morning, before going to work, Brad suffered a heart attack while jogging and died later that day. Alex suddenly lost his long-time business associate. What’s more, after the estate was settled, he found himself with a new co-owner — Brad’s wife. The result was chaos.
Your business thrived, but your marriage didn’t. Here’s how to stay business partners with your ex. GWEN MORAN Stacey and Jan Roberts were a happily married couple with three children when they launched their Sacramento, California-based Unishippers logistics franchise in 1995. They were both making career transitions and had bright hopes for their future. Three years later, their business was thriving, but their marriage was not. After months of counseling, they decided to divorce.
Mary Ellen Biery, Contributor Without a buy-sell agreement in place, business owners risk facing these scenarios and other situations that can disrupt the business and hurt its value. A buy-sell agreement allows entrepreneurs to know up front who can buy in to the business and how the process will work, and it provides opportunities to talk about possible scenarios rather than forcing owners into expensive litigation down the road.
By Yuval Atsmon Companies that actively and regularly reevaluate where resources are allocated create more value and deliver higher returns to shareholders. “Dynamic resource reallocation” is a mouthful, but its meaning is simple: shifting money, talent, and management attention to where they will deliver the most value to your company. It’s one of those things, like daily exercise, that helps us thrive but that gets pushed off our priority list by business that seems more urgent. Most
Jerry B. Harvey The July afternoon in Coleman, Texas (population 5,607) was particularly hot— 104 degrees as measured by the Walgreen’s Rexall Ex-Lax temperature gauge. In addition, the wind was blowing fine-gained West Texas topsoil through the house. But the afternoon was still tolerable—even potentially enjoyable. There was a fan going on the back porch; there was cold lemonade; and finally, there was entertainment. Dominoes. Perfect for the conditions. The game required little more physical
by IPFrontline in Patents From American Society of Appraisers – Excerpted WASHINGTON, D.C. – It is clear that many executives still don’t know as much as they could about the field of business valuation. “In this climate of corporate accounting scandals and quickly evolving corporate accounting legislation, it is very important for companies to be knowledgeable about regulations which mandate valuations,” said Donna J. Walker, ASA, International President of the American Society of Appraisers and a principal with
Courtney Crowder, email@example.com:15 p.m. CDT July 17, 2016 As a child, Deborah Anderson desperately wanted siblings. She passed hours praying for brothers and sisters and thinking about what they would look like. Would they have her light features and blond hair? Would they be tall or short? Would any of them have her penchant for mysteries? “I just hated being an only child,” Anderson said. “When I was old enough to understand that some Vietnam
By AMY HAIMERL Natalie Sexton jokes that her earliest memory is being rocked to sleep on the machinery bottling her mother’s line of all-natural juices. She was just an infant when Marygrace Sexton started Natalie’s Orchid Island Juice Company in 1990, naming it after her.
Dave Kerpen Founder & CEO, Likeable Local, NY Times Best-Selling Author & Speaker In case you’ve been living under a rock for the past week (or maybe just enjoying a nice summer vacation), Pokemon Go has taken the country (and the world) by a storm in just a few short days. The augmented reality mobile app and game has launched and grown at phenomenal rates, it’s already on more than twice as many phones as
Steve Parrish As business cycles go, this is a great time to sell a family-owned business to the family. In particular, parents can lend money to their children for the purchase of the business at an incredibly low interest rate without incurring gift tax implications. The purchasing child becomes a successor owner, and a smooth transition occurs while the parent is still alive.