Monthly Archives: November 2011

Thanks for Everything

Posted on November 27, 2011 by John F. Dini

A British friend was commenting to me on how “odd” he found the American celebration of Thanksgiving. “There is no equivalent holiday in Europe, or anywhere else in the world.” he said. “You have an entire day devoted to conspicuous … Continue reading →

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When is a Bonus not a Bonus?

Posted on November 20, 2011 by John F. Dini

“And yet, you don’t think me ill-used, when I pay a day’s wages for no work.” That statement by Ebenezer Scrooge to Bob Cratchett in 1843 recognized the then relatively new custom of letting wage-earners have a day off for … Continue reading →

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When is the Right Time to Sell?

Posted on November 13, 2011 by John F. Dini

In the last few weeks I’ve had several conversations with owners about selling their companies. In one case a professional firm with whom I’ve worked for the last 4 years completed a merger with a large national company. That was … Continue reading →

Posted in Exit Planning, Thoughts and Opinions | Tagged , , | 1 Comment

One Response to When is the Right Time to Sell?

  1. Oswald Viva says:
    November 14, 2011 at 7:26 am

    The right time is NOT when you are down because the business is down. Case in point: a few years ago Mr. X was suffering through a low point in the business because of poor market conditions. He was so affected by it that was seriously thinking about selling (obviously at a very low price because of the down turn in the business). I knew the business had a lot of potential and that the down cycle would be reversed, so I wanted to change his mind. Rather than trying to convince him I decided to talk with his wife who was also very active in the business. I asked her: “What would you and Mr. X do after you sell?” She replied: “I guess we would start another business”. So I asked her: “Tell me, how were the beginnings of this company?” She said: “Oh my God, they were terribly challenging and not much fun”. I said: “So, do you really want to go through all that again?”. She looked at me with puzzled eyes and said: “I never thought about it that way; you are right I don’t want us to have to go through that again”. So they decided to keep the company and work to return it to its rightful place. Today the company is four times the size and they get unsolicited offers for many times the price they would have had to sell at the low point. The moral of the story then is: sell when business is doing well, never when it is down.

    I cover this subject in detail in my book “Its Lonely at the Top”; “A Practical Guide to Help You Become a Better Leader of Your Small Company”.

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Three Circles of Family Business

Posted on November 6, 2011 by John F. Dini

What is a “Family Business?” A large percentage of small companies have some family involved. For most, it is simple a case of providing employment to family members. If the founder of the company is also the principle revenue generator, … Continue reading →

Posted in Entrepreneurship, Exit Options, Exit Planning, Leadership | Tagged , , | 3 Comments

3 Responses to Three Circles of Family Business

  1. Julie Herrington says:
    November 7, 2011 at 8:41 am

    Ouch, I am living this situation. Vision and leadership is the challenging issue. There is not one right way to run company. I learned from you that each business reflects business owner’s personal values and style. Great article and if others respond too, hopefully you will share more on this topic and transitioning family business.

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  2. Bill Seelig says:
    November 7, 2011 at 10:23 am

    Additional Information,
    Actually the most stable relationship system is a three party system where the third party acts as a calming, reasonable voice that facilitates constructive communication and decision making. In family business succession work we have long advocated a three system view: Family, Business and Board. In the latter we work toward a balance of participants between family representatives and respected, independent outsiders with experience and expertise relevant to the current and future work of the business. We typically do not recommend professionals – lawyers, accountants, consultants… who are aligned and indebted financially to the business. The challenge is to start this process long before succession – through family education and involvement of key family members in learning about and appreciating the complexities of running and growing a successful family business. The earlier the better…
    Bill Seelig,
    bill@seeligs.com

    Bill Seelig

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  3. Todd Marquardt says:
    April 22, 2016 at 5:35 am

    Legal succession planning is also important for family businesses. This is especially true when one beneficiary of the owner’s estate is clearly the right person to take over operations and another beneficiary is clearly not interested.

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The New Terrain: 2011-2020

Posted on November 2, 2011 by John F. Dini

The five-part series “The New Terrain 2011-2020, Winning the Battle in a Slow Economy” is now available as a white paper at http://www.johnfdini.com. It discusses issues and strategies for success in a lethargic economy.

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2 Responses to The New Terrain: 2011-2020

  1. Clare Taylor says:
    November 2, 2011 at 11:25 am

    Sweetheart! I miss you… your 11 Things is great.
    Sign me up for this one please. Come back again in the spring please…
    a fan.

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