Choosing the Integral Pieces of Your Business
Posted: November 2, 2016
Choosing the Integral Pieces of Your BusinessKey person insurance may be an important investment, particularly in a small business in which a key person or persons are crucial to the enterprise’s continued success. With this type of coverage, the company purchases a policy on the life of a key employee. In the event of an accident or illness that takes a key person’s life, the company, as the beneficiary, receives the...
Traveling with Key Person Insurance
Posted: October 17, 2016
Traveling with Key Person InsuranceNo one wants to consider the possibility of the death of a key person in a business, but illness and accidents happen, and death is an inevitable part of life. Although we never really expect the worst to happen, accidents can occur while traveling. When the tragic death of a business owner, founder, or key employee could lead to the demise of the company, obtaining...
Are You Ready for the Next Step?
Posted: October 3, 2016
Are You Ready for the Next Step?No one likes to think about what will happen when they are no longer around or able to make important decisions, but if you are a small business owner, then nothing could be more important for the future of your company. Succession planning is the practice of drawing up a plan for what will happen to your business if you pass away, retire, or become...
The Importance of Succession Planning
Posted: September 2, 2016
The Importance of Succession PlanningNo one likes to think about what will happen when they are no longer around or able to make important decisions, but if you are a small business owner, then nothing could be more important for the future of your company. Succession planning is the practice of drawing up a plan for what will happen to your business if you pass away, retire, or become...
The Boss is Gone - What’s Next?
Posted: August 15, 2016
The Boss is Gone - What’s Next?Many businesses revolve around the owner and his or her direct participation in the enterprise. Without the boss there – the business will may be unable to function. Businesses that are established by owners with this level of involvement are at risk, but something can be done about it. At some point during the lifecycle of a business, it is time to consider business succession –...