For the love of your business

Articles to LIFT Your Life and Business

Avoid Making 3 Common Mistakes When Choosing Your Successor

Choosing the person to take over your business after you exit isn’t about selecting someone who’s exactly like you or even selecting someone you like. The most important thing is that you choose someone who’s not only well-qualified for the role, but who also has the vision and skills to lead your company into the […]

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Why You Should Create a Trust To Protect Your Business and Family

Although you can invest in many different types of insurance to protect your business from lawsuits and other liabilities, one of the greatest liabilities you simply can’t avoid, especially if you are the sole owner of your business, is your incapacity or death. To make certain that your business—and the income it generates for your […]

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Here’s How to Protect and Capitalize On Your IP—Part 2

Intellectual Property (IP) is an integral part of many of today’s companies’ overall value. Indeed, studies show that up to 80% of the value of a typical business is IP, and as of 2020, more than 84%—$19 trillion—of the S&P 500’s market cap is represented by intangible assets like IP. However, even the biggest corporations […]

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3 Tips for Effective Business Succession Planning: How Will You Exit?

You’ve most likely dedicated significant time and energy to visioning your business, executing your vision, and even writing up a business plan for the growth of your business. Yet far fewer business owners put the same amount of effort into planning for their company’s continued success following their retirement, death, or incapacity. Not planning for […]

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An Exit Strategy Enhances Your Business (and Legacy) Building

Exiting your business isn’t a decision to be made lightly. It may have been something you were considering before the COVID-19 pandemic hit, or it could have been something that you’ve had to reckon with because of shelter-in-place orders. Maybe your business had already been struggling, and you’ve had to come to terms with your […]

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4 Estate Planning Documents No Entrepreneur Should Be Without

Though most entrepreneurs understand the value of effective business planning, fewer are aware of the critical role estate planning plays in their company’s success. Yet considering what would happen to your business upon your death or in the event of your incapacity is one of the single-most important things you can do for your business. […]

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Avoid These 3 Mistakes When Choosing Your Successor

Choosing a successor to take over your business doesn’t mean selecting someone who’s exactly like you or even someone you like. It’s about choosing someone who’s not only well-qualified for the role, but someone who also has the vision and skills to lead your company into the future. With so much riding on your decision, […]

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3 Common Excuses For Putting off Estate and Succession Planning

It seems like every other week there’s another story of a multimillion-dollar family business that falls apart shortly after the current owner steps down or passes away. This sheds light on an ugly truth. Most family businesses are woefully unprepared for the existing owner to depart, especially if it’s unexpected, as is the case with […]

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3 Ways A Lack of Estate Planning Can Cripple Your Company

When running a business, it’s easy to give estate planning less priority than other matters. After all, if you’re facing challenges meeting next month’s payroll or your growth path over the immediate term,  concerns over your potential incapacity or death can seem far less pressing. But the reality is considering what would happen to your […]

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What Happens to Your Company’s Facebook Page When You Die?

While Facebook has recently developed user-friendly options for managing your personal profile in the event of your death, the company has yet to develop any streamlined way to handle your business accounts once you’re gone. Indeed, a Google search of “what happens to my Facebook account when I die” turns up tons of hits related […]

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Choosing the Right Time to Exit Your Business

Like most entrepreneurs, you probably think about the many ways you can help your company take off and grow. But you should dedicate an equal amount of brain power to planning when and how you’ll sell what you’ve built. In fact, deciding when to sell your business can be just as important as deciding when […]

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