Financial Advice to Avoid in the New Year

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When it comes to financial or money advice, it seems like everyone has an opinion – some of it can be great and definitely worth looking into, and some of it, well, it’s just really, really bad and should be avoided.

If your resolution for 2021 is to save more money or get your finances in order, here are a few pieces of BAD advice you should steer clear of.

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How to Transition a Family Business to the Next Generation

For a family business, the transition from one generation to the next is perhaps the largest (and most overlooked) challenge it will ever face. The transition doesn’t just cause stress, controversy, and bruised relationships. Only 30% ever survive the second generation, regardless of industry, location, or the current economic landscape.

The transition from one generation to another is an issue of relationships and expectations of the family members and non-family numbers. The health and success of the business depend on careful transition planning and healthy communication. This means it’s wise to develop a Succession Plan as a fundamental part of your overall Business Plan. Continue reading “How to Transition a Family Business to the Next Generation”