Most business owners and managers today maintain a continuing concern and a crisis mentality dealing with the future economy. Why then is there still not more optimism and positive future planning? The reason is that while most executives are coping relatively well with the demands and effects of the economic crisis, they have not yet adjusted to the “new normal”.  However the “new normal” is not new at all. It represents a return to old-fashioned business values of using leverage judiciously, watching cash flow rigorously, investing in people and systems, and keeping an eye out for growth. This recession presents an unprecedented opportunity, at least in a generation, when small to medium sized businesses have access to a large pool of well-trained and highly experienced personnel; yet people problems loom on the horizon.

The party is over; you can no longer leverage yourself to success betting on inflated values and unlimited growth. Instead you must build an efficient business model predicated on sound financial principals and clear strategy.

To state that it has not been a terribly good year, would be a tremendous understatement. From real estate, to stock investments, to credit line decreases, to credit unavailability, both consumers and almost all sectors of business were hit and hit hard.

Eliminating the dependence of a business on its owner is arguably the most important factor in enabling a profitable sale.

A smooth exit requires sound planning years in advance.

Succession planning is one of those management issues that rarely gets attention until a partner announces plans to leave or retire, or, more disastrously, is suddenly removed by illness or death.

70 million baby boomers in the United States are fast approaching retirement age during the next five to 20 years. They will transfer 10 trillion dollars to later generations.

Just as the maturation of the baby boomer generation will place unprecedented strain on social security and health funding, so the boomer business transition bulge will strain and possibly overwhelm the available supply of buyers.

A family business holds both the financial capital of the family, and the ‘sweat equity’ devoted by its members. Attachment is both financial and emotional. Family dynamics are complex and have the potential to bring even the best business asunder.

Many business owners never achieve the full potential value when they sell their business. Why does this happen?

Most of us are well aware of the failure rate of starts ups. Around the world, the statistics tell the same story – 50 per cent of privately owned businesses fail in the first year and 95 per within the first five years.

With more businesses for sale than potential buyers, who will buy your business? And how significant is your business to your overall wealth? Your business needs to be rock-solid and able to generate continued earnings beyond transition.

Demographic trends & shifts are creating significant changes to the global economy with the implications flowing down to the economies of developed and developing nations and in particular to those wishing to exit their business over the next decade.

Only one third of privately owned businesses successfully move through transition to new ownership. While most owners have a vision for life after business the majority don’t have a plan in place to realize it.

An aging population, technology, changing world demographics and online growth are just some of the reasons why it's going to be anything but business as usual.

Shareholder agreements protect shareholders and relationships. The corporation is the most common structure for businesses around the world, regardless of their size or primary area of activity.

The second of a two part series. In Part 1 we looked at the mechanics of selling your business. In this one we deal with how to build the business’ value prior to sale.

Many business owners fail to realize the value of their years of effort and investment because the selling process itself is poor.

Preparing for a business transfer is a long and complex process that can entail many difficulties. It is best achieved with a firm of transition specialists to ensure coordinated action.