Our Business Consulting advisors answer a recent question one of them received, below: Question: I’m considering a possible sale of my business. How do I know if my company is ready for a sale? Answer: For leaders exploring an external transition, it is important to start with a clear vision. Identifying why you are selling […]
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Creating an Effective Workplace Culture Organizations seeking to attract and retain exceptional employees understand that corporate culture has become an increasingly critical component of job satisfaction. In fact, a recent article in Forbes called 2022 the “year of workplace culture.” 1 An organization’s culture defines behavioral expectations within the company and is shaped by the […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: The company I lead has a hard time following through. How can we improve in this area? Answer: This is a common occurrence in many organizations we’ve worked with. We have seen that when leaders adopt the following practices, plans are […]
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Applying wisdom to the decision-making process during an internal transition can reduce the risk of uncertainty and increase the chance of success. In addition, business owners can transfer their wisdom and knowledge to the next generation of leadership through continuity and succession planning. To effectively transition the company’s wisdom role, business owners can develop: A […]
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Most business owners want to preserve the legacy they have built when their companies transition into new hands. In our experience, a business owner can effectively transition the company’s legacy by: Providing clear communication Cultivating a covenantal culture Developing a business generosity plan Preparing a financial plan Read more about leaving a lasting impact with […]
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Most business owners work hard to define and carry out their corporate mission. Preserving that effort and impact from one generation of leadership to the next is possible with purposeful planning. A company’s mission tends to center around people, putting practices in place to sustain relationships, culture, and positive influences. Some things a current leader […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I want to pass the family business to my children, but some of them aren’t in the business. How do I determine what is fair? Answer: One challenge we’ve seen in this situation is the friction between choosing the best steward […]
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Thinking generationally considers the future of both the business and the owner. Identifying the purpose of the business and the role it plays in employing and/or providing for the family can provide clarity about transition preparations. When owners consider their company’s unique characteristics and impact, as well what they will do in retirement, this also […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: My business relies on input from many different advisors. This can be overwhelming: how do I balance all of the guidance I receive? Answer: Proverbs 15:22 says that “Plans fail for lack of counsel, but with many advisers they succeed.” In […]
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A healthy business makes an impact and has a positive influence. Prior to a transition in leadership, company owners often seek to build business health, which in turn increases the business’ value. A healthy business: Operates with excellence Seeks to exceed expectations Has a lasting impact Being intentional in how you build and run your […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I’d like to give shares of my company to my children, but we are not the only shareholders and our shareholder agreements are over 30 years old. Our other shareholders are not completely aligned with this idea. How could this conflict have […]
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If you’re facing a leadership transition at your business, preparing your company to thrive under new ownership is one way to protect the legacy you’ve built. Some proactive steps you can take in advance include: Building a healthy, valuable business Learning to think generationally Staying true to the company’s mission Learn more about the things […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I am nearing retirement. Should I still be working to grow my business (i.e., investing equity, leveraging the business for growth, etc.)? What do I need to be thinking about to make sure I’m leaving my company in good shape? Answer: It’s […]
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When business owners plan for retirement, they need to figure out what to do with the companies they lead. We teach that preserving legacy is accomplished by developing: The right mindset The right perspective The right purpose To learn more about using a biblical worldview to preserve your company’s legacy during a transition, log in to read […]
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Our Business Consulting advisors answer a recent question one of them received, below: Question: I’m planning for retirement. My senior leadership feels unsettled. How can I assuage their concerns? Answer: Great question. We recently worked with a retiring business owner whose senior leaders had been in place for over 20 years. Change can breed uncertainty, […]
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Internal Transitions Transition of business ownership may be internal or external. An internal transition plan focuses on family members or key leaders stewarding the business into the future. For Christian business owners, biblical wisdom can shape this planning process, preserving the company’s legacy.
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Our Business Consulting advisors answer a recent question one of them received, below: Question: We have a family business. What is the best way for different generations to communicate, plan, and participate? Answer: These are important conversations for families to have. We often advise our clients to take a two-step approach. Step 1: Family meeting […]
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Organizational health is a common goal for the many business owners we have worked with over the years. The concept of a healthy business has a biblical basis: In Genesis 1:28, God created work. Business is an organized form of work, and as its creator, God and his word are our source for how best […]
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In his book Mission Drift, Peter Greer, president and CEO of HOPE International, examines the tendency of organizations to lose sight of their original goals. The Second Law of Thermodynamics states that, “Left alone, things degenerate over time, rather than come together.” This phenomenon is observable in physical entities and organizations alike. Greer indicates the […]
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Preparing Your Business for an Internal Transition If you are preparing your company for an internal transition, you likely have a long list of issues to address. We encourage those who are Christian business owners to base their process on the premise that God owns it all (Psalm 24:1). If we truly believe this, there […]
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We believe there are five actions that, in alignment with the fruit of the Spirit, can support relational clarity. This clarity exists when employees exhibit the ABCDE’s of team behavior. E: Engaging in Constructive Conflict Resolution Tension, adversity, and conflict are normal aspects of any relationship. When we don’t recognize how our own motivations, communications […]
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We believe there are five actions that, in alignment with the fruit of the Spirit, can support relational clarity. This clarity exists when employees exhibit the ABCDE’s of team behavior. D: Developing Strong Relationships Strong relationships are built on mutual love and care. The Bible is clear about the benefits of strong relationships, from Galatians […]
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We believe there are five actions that, in alignment with the fruit of the Spirit, can support relational clarity. This clarity exists when employees exhibit the ABCDE’s of team behavior. C: Collaborating Generatively Collaboration is when two or more people come together to accomplish a task. Generative thinking is the result of the synergy of […]
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We believe there are five actions that, in alignment with the fruit of the Spirit, can support relational clarity. This clarity exists when employees exhibit the ABCDE’s of team behavior. B: Buy Into Something Bigger In his 2009 book Start With Why, Simon Sinek discusses how defining purpose helps organizations achieve success. Purpose […]
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