Strategic Planning Best Practices

Welcome to BABM Strategic Planning Best Practices where you can read succinct articles online. The articles will provide you with valuable information that can be immediately implemented to help take your business and personal success to the next level.

Family Business – The Tie that Binds
A Written Code of Conduct May Pave the Way
By Dan Maloney CPA CFP
Published: December 2007

Many business owners struggle with the decision whether to keep or to sell the family business, due to lack of apparent successors. The procrastination is a common issue in family businesses and should be expected. Major reasons for indecision are inadequate succession planning and faulty perceptions as to the “family rules of conduct.” Qualified successors to the CEO role may not have been identified or may not have stepped forward because expectations surrounding their working in the business may not have been communicated. It is very possible that the unwritten Code of Family Conduct (all family businesses have one) implies that members should wait to hear from the CEO before asking questions.

Strategic Planning Best Practices Magazine Articles

Selling Your Family Business?
Get Ready – Get Set - Go
by Dan Maloney CPA CFP
Published: November 2007

GET READY.

Deciding whether or not to sell the family business can be a much more difficult decision than the decision initially made to invest time, effort, and money to start the business. Why? It’s because both the pressing everyday business needs and the sometimes volatile family emotions come into play. Even if the founders can get past the formidable obstacles of dealing with other family members’ concerns, changing dreams and possible objections, they still have to deal with their own separation anxieties – all while trying to stay focused on the business.

Are you ready for Shore Leave?
Taking Business Globally
By John Lowe
Published: October 2007

Globalization: Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation technologies and services, mass migration and the movement of peoples ..." Britannica Concise Encyclopedia.

Planning - Get the Most Out of It

If you put your heart and soul into running your business, it makes sense to get the most out of it. Salary is an obvious way to compensate yourself, but a few planning strategies can help maximize your take-home dollars and your business.

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