cs1 Sonny is a dedicated, key employee. Though he only owns 20% of the stock in the business, he has always shared in decisions equally. The owner, Fred, has often said the company would never have grown so fast without Sonny as manager. This morning, Fred pulled Sonny aside and said he was getting out of the business in 5 years. His 27-year-old son, who has only worked in the business since finishing college, would be moved into the main office and groomed for the presidency. Sonny gave the business 20 years and thinks he deserves more. He feels betrayed and angry. THE MOST IMPORTANT BUSINESS DECISION YOU WILL EVER MAKE IS WHEN YOU SELL OR TRANSFER YOUR BUSINESS. If you’re like most entrepreneurs, your business represents most of your personal wealth-and most of the years of your life. Whether you sell it outright, transfer it within the family or to key employees, you are faced with many soul searching decisions. CFG specializes in business planning to help you through the process you are about to begin.
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Family Business Succession & Wealth Governance Life Insurance Solutions
CFG Business Solutions

Family Meetings- White Papers

The ABCs of Family Councils
by Mike Cohn

If you are thinking of starting a Family Council, here are some basic rules to follow so that you create a council that involves and engages family members. more

Planning a Good Family Meeting
by Mike Cohn in Buidling Dealers magazine

One way to keep family members informed about how the family business is doing is to hold a family meeting. Don't assume that because family members are working in the company they know the "big" picture about how the business is doing or why certain decisions are made (or not made). Family meetings have become popular lately, but don't be naive in thinking they all run smoothly. more

 

 Life Insurance Solutions
Case Study 1