Sell the business?

About a month ago I attended CAFE Calgary‘s Signature Event. It was great to see so many families in attendance and to hear the stories of the winner and two runners up of the Calgary Family Enterprise of the Year award.

After the awards,  Thomas William Deans spoke on his book Every Family’s Business -12 Common Sense Questions to Protect your Wealth. It was fantastic. Thomas brought up some interesting thoughts to ponder.

The key point was that every family business should be up for sale. Up for sale to an outside investor, up for sale to one of the shareholders and up for sale to the next generation. I think the largest takeaway was that:

Everyone who leads your family business should have invested into the success of that business – at their own cost.

Does your next generation have ownership because you gave it to them or because they bought into your company? Are they invested both personally and financially or are they just carrying on your legacy?

I recommend checking out CAFE Edmonton’s Signature Event on March 18, 2010.

Save the date for the upcoming Family Enterprise Forum hosted by both ABFI and CAFE. Edmonton on May 4. Your business family doesn’t want you to miss this event.

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s