2 Reasons to Hire a Professional Advisor When Passing Down Your Company

If your business is going to stay in the family, it might not be a smooth transition. Unwritten procedures and invisible policies might not translate over to the next owner. Tax issues and financial problems can severely reduce the business’s profitability during the transition. Even family dynamics and personal conflicts can start to get in the way of business operations. Bring a professional in for key steps to keep the transition smooth. How can a professional advisor help? Any time you’re making a major change to your...

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3 Good Exit Strategies for When You Want to Hand Off Your Construction Business

Long-running businesses have more value than the services they provide and the equipment or capital they own. Businesses of every size can have a lot of their value tied up in their ownership and their brand. Customers in your area trust your company name and your logo. There’s a lot of goodwill that can pass on to a subsequent owner. So if you think it’s time for you to leave your small business, either to retire or to try new pursuits, don’t just let your business shut down. What are the three best exit strategies for...

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How To Set Effective Business Goals

In the business world, the idea of setting goals for success is not revolutionary. Lots of research have been done showing that establishing goals is essential to the success of a company. Most business leaders establish goals for their company when they draft a mission statement. The challenge, however, for these leaders is keeping track of their goals; the 4th Annual Staples Small National Business Survey revealed that 80% of business leaders lose sight of their goals after some time. One way for business leaders to avoid losing track of...

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3 Reasons to Set Up Goals for Every Project and Position

Goals drive better performance. Whether there are a series of daily goals or a larger project that is broken up into manageable task-based goals, having that structure provides additional organization, clarity, and motivation. Days working in a construction company can be especially varied, so goal-setting is crucial to measure progress and keep employees motivated. 1. Goals drive innovation. As an owner or a manager, you don’t have perfect insight into every problem in the company. Sometimes the details are visible only to the...

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Maximize Employee Performance With The 70-20-10 Learning Model

Businesses are always looking for the best ways to educate their employees. Whether it’s classroom education, job shadowing, hands-on training, or just letting employees get the experience they need on the job, there are lots of educational methods available. The key has been finding the proper ratio to use these methods in. One answer is to use the 70-20-10 learning model. What The Model Says The 70-20-10 learning model is a fairly simple mechanism. In short, it says that 70 percent of learning will come from completing difficult jobs,...

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