Running a family business comes with unique opportunities and challenges. While the close-knit nature of family enterprises often provides a solid foundation of trust and shared values, it can also lead to complex interpersonal dynamics and resistance to change. For small business owners, particularly those managing family enterprises, executive coaching can be a game-changer in driving sustainable growth. This article explores how executive coaching can empower family business leaders to overcome obstacles, unlock their potential, and build a thriving enterprise for future generations.
Expanding a small business is an exciting prospect. It signals growth, ambition, and the chance to achieve new milestones. However, without proper planning, expansion can quickly turn into a costly misstep. For small business owners, having a structured approach is essential to navigate the opportunities and challenges of scaling up. This guide will outline how to effectively plan for expansion, ensuring a smoother journey towards growth and sustainability.
Black Friday is one of the most anticipated shopping events of the year, with customers eagerly hunting for the best deals. Big brands and global corporations dominate the day with flashy advertisements and eye-catching discounts, but does that mean your small business should jump on the bandwagon too?
Before rushing into planning a Black Friday sale, it’s worth taking a step back to consider whether it aligns with your business goals, resources, and customer expectations. In this article, we’ll explore the pros and cons of running a Black Friday sale as a small business and help you decide if it’s the right move for you.
Last updated on December 3rd, 2024 at 02:41 pm
Running a small business can be incredibly rewarding, but it comes with its fair share of challenges. One often-overlooked yet critical aspect of business planning is ensuring a clear strategy is in place for dealing with unexpected changes, such as the departure of a co-owner. This is where a buy-sell agreement comes into play.
Yesterday’s post about the importance of having a will mentioned this so, in this guide, we’ll explore what buy-sell agreements are, why they matter, and how they can protect your business. Whether you’re just starting out or have been in business for years, understanding this legal tool could save you from future headaches.
Please note that this blog post gives some general information and does not provide any legal information. You should always talk to a professional adviser when considering a major business decision like this.
Last updated on November 26th, 2024 at 02:45 pm
As a small business owner, you spend years building your business, making it a cornerstone of your financial security and your identity. You work tirelessly to ensure its growth, investing your time, money, and passion. However, many business owners overlook a critical piece of long-term planning: writing a will.
A will is not just about distributing personal belongings; it is a legal document that determines how your assets, including your business, will be handled after your death. Without one, your business—and the financial wellbeing of those who depend on it—could face unnecessary risks and complications.
In this article, we’ll explore why having a will is essential for small business owners, the risks of neglecting this vital document, and how to get started with creating a will that protects your business and your loved ones.
Please note that this blog post gives some general information and does not provide any legal information. You should always talk to a professional adviser when considering a will.
In the world of small business, the path to success often feels like a winding road full of challenges, surprises, and unexpected turns. Amid the hustle and grind, there are moments of clarity and insight—commonly referred to as “lightbulb moments”—that can transform a business’s trajectory. These moments of sudden inspiration or realisation are invaluable, and learning to embrace them can be the difference between stagnation and growth.
In this post, we’ll explore what lightbulb moments are, why they matter for small businesses, and how you can foster an environment where these flashes of brilliance can thrive.