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Posts from the ‘Corporate Insurance’ Category

20
Jul

The 4 Cs of Conflict-Free Family Businesses

Focusing on growth is harder when your co-owners are your relatives

by Fred Pidsadny for ProfitGuide.com

Family-run businesses are like elastic bands—they can be stretched only so far, in different directions, before tensions cause them to snap. Those who run family businesses know that stress can often be elevated by forces that don’t exist in non-family firms, from hiring obligations and bloodline silos to next-generation financial demands to under-performing family members. It’s one thing to discipline or even fire a stranger, quite another to turf a brother or daughter. For such businesses, finding a successful balance is an ongoing challenge.

So how can family-owned businesses avoid conflict and focus on growth? For a number of years I’ve been working with a company run by three brothers, each with their own family and their own unique take on strategy and succession planning. They have benefited tremendously by learning and practicing what I call the four Cs of strategy execution for owner-managed businesses:

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14
Apr

Protecting Your Business

While most business owners realize the benefits of corporate-owned insurance, many do not realize that flexible life insurance products such as universal life can provide them with the protection they need as well as a source of cash for business purposes.

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