As your business grows more reliant on digital tools, planning for the future of your digital assets becomes critical, especially when thinking about succession. Email accounts, websites, cloud storage, customer databases and online banking access are no longer...
Business owners have to consider the short-term and long-term needs of the company. One aspect of business ownership they may not have thought about yet is succession planning. Succession planning is a strategic plan that outlines how leadership and ownership of a...
When you are in business, you are always looking for ways to improve performance and customer satisfaction. One of the ways to achieve this is by getting into a business partnership, as this helps expand resources, share skills and responsibilities and increase the...
A partnership is one of several legal structures you can opt for as a business owner. Rather than facing all of the financial and legal burdens of the company on your own, you can share them. You can also share ideas and the responsibility of day-to-day tasks. ...
Many businesses close down. And you may find yourself considering it. Even though it can be emotional and challenging, it may be the best move for your business. Here are four reasons that may contribute to you closing your business: Personal reasons This is one of...
Have you ever seen two businesses that are clearly unrelated but that have similar names? There are situations in which this can be completely legal and not a violation of anyone’s intellectual property rights. After all, business names often are not trademarked or...
Entering into a business partnership is like starting a professional marriage. Both parties must be aligned in vision, goals and operational ethics for their shared opportunity to have the best chances of success. Yet, even the most harmonious business relationships...
Running a company requires a lot of time, investment and effort. The last thing on your mind may be who is going to take over once you are finished. Nonetheless, you can’t run the company forever. This is where succession planning comes in. Ideally, you want the...
If you are looking for a partner to go to business with, it is important that you find the right match. If you end up with the wrong partner, your business journey could be a lot more difficult than it ought to be. So, what qualities should you look for in a business...
Initially, you started your business as a side project on top of your job. After a few months, you exceeded all of your targets and it soon became clear that your business had the potential to be a sustainable career rather than something on the side. You left your...