Transferring ownership across generations

We’re a two-generation company, and I find that ownership is very confusing. It feels like as long as the seniors are alive, we in the next generation will never own the company, even though we’re now doing the majority of the heavy lifting. On top of that, the seniors represent a huge financial drain on the company. Given what they’re taking out of the business, why would they give up control?

Thoughts of the day: Think about what control you want, and what leverage you have to get it. Figure out how to make the senior generation whole. Make sure the next generation is ready to run the business.

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How Much is Enough Marketing?

We have some solid sales prospects in the pipeline, but not enough. Not knowing where all this year’s sales are going to come from just gnaws at me. How do I find peace? I want to be able to look ahead and know there’s enough activity in the works for me to hit my goals and sleep well at night.

Thoughts of the day: Start with figuring out what marketing and sales problems you’re trying to solve; set goals. Pick a set of activities that will help you meet the goals you set. Match activity to the pipeline stage you’re trying to beef up.

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