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Exit Planning & Succession

All in the Family Part 2: How to Sell Your Company to the Next Generation

Part I of the “All in Family” article series looked at several key considerations for business owners looking to sell to family members. It covered determining company direction, addressing management plans, pricing and more. Once those topics are discussed, an owner must determine the method and…

All in the Family: Part 1

These topics of conversation may be uncomfortable, but they need resolution before the succession plan materializes. If they are not resolved beforehand, they are guaranteed to surface at the worst possible time.  

THREE ELEPHANTS IN THE ROOM DURING AN OWNER’S EXIT

This article presents three key considerations for owners as they plan for their exit from a business. They are the Three Elephants in the Room: taxes, succession and planning for what’s next.

Inside an ESOP

When it comes to exiting a business and monetizing the wealth trapped in the company, an owner can consider five general methods of exiting: a sale to an outside party such as a competitor or strategic partner; a sale to a private equity group; a sale to a manager or group of managers in a…

Exit Planning and Succession VII - Contingency Planning FAQs

Contingency planning is a critical yet often neglected aspect of protecting a business. This process addresses what will happen to a business, an owner’s business stock, and an owner’s family if he or she dies, suffers illness or injury, or simply chooses to leave the business. It will also…

Exit Planning and Succession VII - Succession Through Hardship

Business succession is inevitable, but certainly not always well-planned or expected. For a business to survive beyond its current generation, next generation leaders must be willing and able to step up and step into the shoes of a departing owner. This article tells the stories of three industry…

Exit Planning and Succession VI - Seven Pitfalls of a Business Exit

Editor's Note: This article and the feature of Salem Flat Glass & Mirror mark the sixth and final installment of Glass Magazine’s Exit Planning and Succession series. Search this website for "exit planning", to see all articles from this series. Business owners intuitively understand and…

Exit Planning and Succession V - Nine Key Considerations For Successful Succession Planning

Editor's Note: This article and A New Chapter mark the fifth installment of Glass Magazine’s Exit Planning and Succession series. Search this site for "exit planning" for more from this series. Succession is a critical component of a successful business exit. The process involves replacing the…

Exit Planning and Succession V - A New Chapter

Chris Mammen (pictured at top right with his employees), CEO, and third-generation leader of M3 Glass Technologies, says of growing up in the industry: “The more time I spent at the shop, the more I could envision myself as a glass man like my dad and my grandfather. Dad instilled this interest…

Exit Planning and Succession IV - The Internal Sale

Editor's Note: This article is an installment of Glass Magazine’s Exit Planning and Succession series. Use the Search bar in the right column to search "exit planning succession", to find related articles. The most probable opportunity for glass company owners looking to sell their business is a…