To The Point – Blog

  • Succession Planning Tip #5

    July 14, 2017

    Tip #5 – Get outside help with your business succession planning. Lawyers, accountants, financial advisors – there are many professionals that can help you put together a successful succession plan. There are even companies that specialize in family business succession planning like Transition Point Business Advisors, who will facilitate the process of working through both […]

  • Succession Planning Tip #4

    July 13, 2017

    Tip #4 – Train your successor and work with them. How can you expect your successor to take over and run your business successfully if you haven’t spent any time training him or her? Your family business succession plan will have a much better chance of success if you work with your successor(s) for a […]

  • Succession Planning Tip #3

    July 12, 2017

    Tip #3 – Get over the idea that everyone has to have an equal share. While this is a nice idea in theory, it may not be in the best interests of your business. Remember that management and ownership are separate business succession planning issues. It may be fairer for the successor(s) you have chosen […]

  • Succession Planning Tip #2

    July 11, 2017

    Tip #2 – Involve your family in business succession planning discussions. Making your own succession plan and then announcing it is the surest way to sow family discord. Opening a dialogue among family members is the best way to begin the process of a successful succession plan – one where close attention is paid to […]

  • Succession Planning Tip #1

    July 10, 2017

    Tip #1 – Start business succession planning early. Five years in advance is good. Ten years in advance is better. Many business advisers tell budding entrepreneurs to build an exit strategy right into their business plan. The point is, the longer you get to spend on succession planning, the smoother the transition process is likely […]

  • What the Heck Is a Company Vision, Really?

    July 3, 2017

      Many companies don’t communicate their vision to employees, and this leaves the entire organization wondering, “Where are we going?” If your employees don’t know where you’re going, how can they help you get there? In fact, many employees don’t even know what a company vision is. A company’s Vision simply put, is a matter […]

  • Influential Leadership – Become the Happy Warrior

    June 12, 2017

    In a recent Harvard Business Review article, “Connect, Then Lead,” authors Cuddy, Kohut and Neffinger tackle the 500 year old question, “Is it better to be loved or feared?” In their research, they discovered that the answer is BOTH.  When we judge others as leaders, we look at two characteristics: how lovable they are (their […]

  • Succession Planning and Conflict: Should We Start or Not?

    June 5, 2017

    I often meet owners who have concerns about succession planning due to conflict with their successors.  Sometimes the conflict occurs because of a misalignment in plans for the business, and for others it is conflict within the family.  Their concern is whether to start succession planning or do nothing and let the estate plan take […]

  • How To Wear The Right Hat

    May 17, 2017

    Rena Striegel, President of Transition Point Business Advisors, is featured in the March 2017 issue of Top Producer Magazine in the cover article entitled, “Taking the Reins”.  Part of that article is where Rena talks about “How To Wear The Right Hat“. The article explains as follows: Communication in a family business is tough. The […]

  • How to Get Started Passing On the Farm

    May 17, 2017

    In an April Successful Farming Online article by Anna McConnell, Rena Striegel talks about How To Get Started Passing On The Farm.  Rena Striegel is President of Transition Point Business Advisors, a company in West Des Moines, Iowa that specializes in helping family farms and agri-businesses transition to the next generation. HOW TO GET STARTED PASSING ON […]

Sign Up To Receive Our Newsletter

Define your next step.