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How to Creditor Proof Your Auto Dealership

Joseph R. Schlett on September 7, 2017 in Strategy

Planning and implementation of creditor-proofing strategies can only be undertaken when a business is solvent and operating in the ordinary course of business. Attempts to creditor-proof during insolvency are subject to significant legal challenge through a number of Legislative Acts. Here are seven risk management strategies: Operating through the auspices of a corporation provides protection … Continued

Selling Your Business is a Process

Joseph R. Schlett on August 15, 2016 in Advice for Business Owners

If selling your business is an option that you wish to explore and possibly move forward with, we highly recommend that you follow a structured process involving preparation and market execution. Further, expect timelines of six to eighteen months to complete the process depending on the nature of your business and ‘sale readiness.’ SB Partners’ … Continued

Do You Have a Succession Plan for Your CFO/Controller?

Joseph R. Schlett on April 13, 2016 in Advice for Business Owners

Recently, I had the privilege of meeting with a group of financial professionals to discuss CFO/Controller succession planning. The subject was topical given findings from a 2013 study authored by the Financial Executives International Canada, the Canadian Financial Executives Research Foundation and Robert Half that cited only about one-third of SME private businesses had developed … Continued

The Pros of Processes and Procedures

Gregory Clarke on August 18, 2015 in Advice for Business Owners

Einstein defined insanity as doing the same thing over and over but expecting a different result. In business, repetition of processes with the purpose of achieving the same result is the desired outcome. Standard results are valued as a predictor of success over random results achieved through inconsistent practices. Properly thought out and executed processes … Continued

Pulling the Trigger: Pros and Cons of the “Shotgun Clause”

Trevor Hood on June 29, 2015 in Strategy

What is it? The shotgun clause is a common tool in Shareholders’ Agreements that function as follows: i) Shareholder A tenders an offer to purchase all of Shareholder B’s shares for a specified price per share. ii) Shareholder B then has the choice of either accepting the offer and selling his/her shares, or rejecting the offer to … Continued

Separating YOU From Your Business

Trevor Hood on March 4, 2015 in Advice for Business Owners

Previously, I wrote a blog about business value drivers and how certain factors can impact the value of a business. Now I’d like to address what is probably the biggest value driver in any small to medium enterprise – you as the business owner.

Five Reasons Auto Dealers Should Have a Personal Financial Plan - Part 2 Manage Assets

Gregory Clarke on October 16, 2014 in Advice for Business Owners

Today we reveal the second reason why developing a comprehensive financial strategy is important to an auto dealer’s long-term financial success. Manage Assets After the plan has been developed, the portfolio needs to be managed.  Recognizing that there are a multitude of great online brokerage systems, investing the time to research and monitor investments is … Continued