Posted on April 09, 2020
Covid-19 Offers Business Partners an Opportunity to Realign Goals – Protect Wealth & Employees
Prior to owning Tenney Group outright, my dad and I were business partners for eight years. We had always enjoyed a very healthy working relationship. As time went on, I began to see a very clear vision for where I wanted to take our business in the future. I desired to expand significantly in order […]
Tags: Succession Planning
Category: Articles
read morePosted on February 21, 2020
3 Questions That Can Kick Start Your Succession Planning
So many transportation business owners know they need to start succession planning…they just don’t know where to begin. The following questions can get you in the game. What is this thing worth? Understanding the value of a business helps a business owner address a few major foundational succession planning issues. It helps quantify the […]
Tags: Succession Planning
Category: Articles
read morePosted on August 02, 2017
HOW TO SAY GOODBYE TO A FAMILY BUSINESS
Creating and growing a business is, in many ways, much like raising a child. Simply, it is hard work. When there are multiple family members managing the company and depending on it for their livelihood, how you want the company to grow and develop often takes you on a different path than companies with one […]
Tags: Succession Planning
Category: Articles
read morePosted on May 26, 2016
3 Unintended Consequences of Short Sighted Succession Planning
Transferring business ownership within a family is tough – particularly in a capital intensive industry. Unless the business is being gifted, the family must determine how and when the next generation can pay for the ownership of the business. In many cases, the next generation has worked in the family transportation business his or her […]
Tags: Succession Planning
Category: Articles
read morePosted on April 01, 2015
What If My Son Wants to Buy My Business but Can’t Afford It?
Recently a transportation business owner approached me with a dilemma. He expressed that he wants to sell his business and that his son wants to buy it. However, the owner fears that his son can not afford it. Although he likes the idea of his son buying his transportation business, he is convinced that any […]
Tags: Succession Planning
Category: Articles
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