The Private Business Owner

An Online Publication by Generational Equity

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M&A Digest – August 21, 2015

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Tackling some tough issues this week, we explore when you need to fire a relative from the family business, why recasting your financials is vital before you start negotiations with a buyer, why should never mention a price to a potential buyer, and more. Click on the headlines to read the full pieces.

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Building a ‘Buyer Ready’ Business – Removing a Family Member When Necessary

When you’re running a family business, sometimes it’s necessary to ask a family member to leave the company in order to protect the business. Here’s how you know if it’s time to do so. [Read more…]

Silence Is A Communication Tool

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When a business owner works with employees in order to grow their soft skills, one area of focus is often communication. A business owner wants an employee to ask the right questions, provide concise answers, and even diffuse an upset customer or vendor when the situation demands it. Moreover, good communication training focuses heavily on listening skills.

Still, one communication skill that is often overlooked is the use of silence.
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Using Negotiation to Lower Business Expenses in 2011 (Series Part 1 of 5)

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2011 is upon us, and with the start of the new year, privately owned businesses are looking for a way to save on business expenses. In this five-part series on cutting business expenses, we are going to pinpoint various ways for you to lower business expenses in the new year.

During Part 1 we are going to focus on negotiation.

Businesses and business owners worldwide have felt the effects of the down economy, thus the need to reduce business expenses is non-negotiable. The expense-cutting trend has forced the marketplace of providers catering to businesses to become more competitive. From commercial leases to telecommunications contracts, it has become a buyer’s market.

[Read more…]