Monthly Archive for: ‘May, 2017’

Business-Continuity Planning for Sole Owners

  Contemplating one’s own demise can be challenging but is paramount to sole owners and their businesses. Consider the fictional Harry Withers, the 54-year-old owner of Withering Hikes, a chain of seven retail apparel stores for outdoor enthusiasts on the Western Slope of the Rocky Mountains. One day, Harry disappeared while scouting new hiking trails. After several months of fruitless …

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Life outside of work

5/22/17 by: Dennis Sherrin The lines between work and free time have become blurry (or even nonexistent) for many people, and especially for business owners. Business never stops, work never stops, and family time never stops, which means our ability to juggle is tested, constantly. The inescapability of unbalanced work-life management is due to so many societal aspects that constant …

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Looking for concentration risks in your supply chain

    Concentration risks are a threat to your supply chain. These occur when a company relies on a customer or supplier for 10% or more of its revenue or materials, or on several customers or suppliers located in the same geographic region. If a key customer or supplier experiences turmoil, the repercussions travel up or down the supply chain …

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3 hot spots to look for your successor

    Picking someone to lead your company after you step down is probably among the hardest aspects of retiring (or otherwise moving on). Sure, there are some business owners who have a ready-made successor waiting in the wings at a moment’s notice. But many have a few viable candidates to consider — others have too few. When looking for …

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