Do you know a business owner with a good idea for expanding their business but they “don’t have the time” to plan out let alone implement the idea?  This is the reason a client engaged my services. His idea was a good one: A natural extension of his market with little competition.  The owner just never took the time to create an implementation plan in the two years since conceiving the idea.  Then the recession hit and the business’ lack of diversification almost put him out of business.

So what was my client (or any of us) waiting for? (more…)

Business planning is an integral part of the Succession Planning process.  I was reminded of this when I read about a local lumber supply company closing its doors after 155 years of service.  Curious if this was now a common phenomenon for retail lumber yards, a quick internet search revealed five closing announcements since February.  All of them were family owned and, on average, been in business for 90+ years.  One common theme for these closing was competition from big-box national chains.

This is where a good Succession Plan comes into play. (more…)