“Not for profit, not for loss.” That could be the logo subtitle for most of the successful nonprofit organizations still standing after the punishing funding environment of the past few years. It has given new meaning to the importance of building a strong donor base and getting members of the board of directors more involved in raising money for their organizations. In fact it has in many cases eclipsed the importance of oversight, the traditional role of corporate boards, now more commonly referred to as governance.
Whether you simply refuse to struggle through one more recession or simply feel that it’s time to wrap it up, your exit is a life event with a bewildering array of options. Assuming you’ve built a business that has real staying power, you could sell it to your employees through an Employee Stock Ownership Plan (ESOP) or transfer it to your children to carry on as a family business. However if your retirement fund is essentially the business, you may want to know that it will produce the cash you will need for the next 10, 20 or more years. And that likely means selling the business to outsiders who will pay cash for it rather than giving it to the kids and hoping for the best.
Good things happen when employees understand what it takes to make a profit.
Here’s the issue, based on historical statistics: More weak companies will fail once an economic recovery has started than will …
Costco Connection readers reacted favorably to one of our articles, co-written by Gene and Don Sadler, our PR outreach guy, …
© 2024 CFO For Rent - Western Management Associates. All rights reserved. Website by Avodah Web Solutions.
