March 21, 2015
Now I’m not going to summarize the whole of Christopher Mercer’s book on Buy/Sell Agreements for you, but he raises a lot of valuable points that bear repeating (and sharing). First is an answer to that very question: why bother with a buy/sell agreement? Because, as Mercer writes, “they are designed to provide objective means of transferring ownership under difficult circumstances.” And that’s what you want when tensions are high: for cooler (objective) heads to prevail. Think about it. Any time an owner needs to leave a business, it’s a rough situation (even if you’re glad to see the back of him/her). Imagine how you’d feel if your business partner: Quit Retired Became disabled Died, or Simply had to get the boot, whether because she was an idiot, or, more sinisterly, had her hand in the till Chances are, you’ll be dealing with some level of shock, anger, resentment, envy, fear, or frustration (or some combination thereof) in addition to needing to work out the business terms. That combination is usually a volatile one. If…
Continue ReadingDo you ever find yourself stuck in repetitive tasks over and over? Einstein once said, “Insanity is doing the same thing over and over expecting a different result.” Earlier this week, I shortened that to…
Read MoreSo you’ve started a business. And it’s just you. What happens if you get really sick or injured? Or a parent needs care-taking? Or your physical presence in business isn’t possible for several months? That’s…
Read MoreHow many leads does it take to get you a sale? Reminds me of the classic commercial for Tootsie Pops: “How many licks does it take to get to the Tootsie roll center of a…
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