Family Business – 3 Succession Planning Secrets

All businesses need to have plans in place for the future. In family businesses, this can be much more challenging, unless care is taken to cover all the bases well in advance.

Where continuity of family ownership is one of the purposes of the business, time needs to be taken to ensure that family succession works.

Whilst there are many actions that can be taken to make sure that the legacy of the family business is maintained, there are three key components to factor in as a matter of course.

Secret 1 – Start Early

Many family businesses are met with challenges that come along unexpectedly. Be they critical factors or not – like the untimely death of a key family member, or where family members seriously disagree – preparation is the key.

By preparing planned courses of action with clear goals and timescales, it can be much less damaging should a crisis occur.

Because of the nature of family business, with generation following generation, preparation for those who will take over eventually can begin quite early on, as long as this is tailored to the ages of those individuals involved.

The best time to start is as soon as possible, before you perceive even the merest hint of issues arising. The worst time is waiting until the last minute.

Secret 2 – Dropping Dead!

Irrespective of the planning you do in the good times, there will always be the need for a process should a key family business member not make it in one day.

It could be a short period where they are ill and there will be the likelihood of return. It could be more serious with an extended period of absence; of it could be the unexpected death of a key figure that throws the business into dangerous territories.

Even with the best long-term succession planning in place, every family business needs to have a process that is clearly understood by all in the senior team should one of them go missing for a while – or longer. It needs to be robust; tested and viable and needs to be well communicated to all stakeholders whether working in the business or not.

In times of stress such like serious illness or even death, the business must go on – and this process needs to be in place well in advance of being required so that the business is not damaged.

Secret 3 – Step Back

Because of the nature of a family business, it can sometimes be difficult to be objective. From entrepreneurs who start a business to generations who take over from parents and even grandparents, they all have emotional ties to what is, quite simply, a business.

It can be difficult to separate the boundaries of what is a good vision for the future of the business if you aren’t able to be very objective indeed, so often there is value in bringing in a specialist to help.

There are many organisations out there who can be constructively supportive, whilst not being afraid to ask the most demanding questions of existing key personnel. Where such specialists add value is with their absolute focus of the right succession plan for the business, not for the emotional ties that so often get in the way.

There are three simple secrets to succession planning success. If a family business is strong enough to address the three issues here, they will be well on the way to ensuring the health of the business well into the next generation.

How to Use a Business Forum As a Marketing Tool

This article will address techniques that will make your mere presence on a Middle East business forum a marketing tool. By following these simple rules you will not lose anything and you will most probably gain a lot during your time on business forums.

-Always use your real name

By using your name on a Middle East business forum you create an air of respectability and confidence. You demonstrate that you have nothing to hide and that you are proud of yourself and your work. This attitude will inspire trust in other members of the forum and will reflect on your business’s image among them, creating good publicity.

-Be polite and helpful

By always being polite and helpful on the Middle East business forum, you will generate good publicity for you business. Members of the forum will trust and respect you, and will be more than likely to help you when you ask for help.

-Have a business like signature.

On any forum there is an option to have a signature that will be displayed after each post you make. By having a professional looking signature that mentions your business and links to it and by always providing polite helpful answers on the business forum you practically create a free ad for your company.

-Use polls

Another tool that should be available on any forum is the poll tool. Using this tool, you can ask polling questions and other members of the forum will vote the answers they think are correct. This tool can help you gather opinions rather quickly, and could be a valuable tool for marketing research.

These few techniques will help you turn your already productive time on any Middle East business forum into a viable and free marketing tool. If you are interested in other useful ways to utilize forums please visit www.doubleurincome.org/

Website Business – Equitymillions System Review

Website business is one of the lucrative business on the internet.

If you do a search on Google keyword suggestion tool for the word “website business” related , you will find below current searches per month :

a) Website business – 90,500

b) Virtual real estate – 18,100

c) Sell website – 18,100

d) Flipping website – 2,900

e) Flip website – 2,400

f) Site flip – 1,300

From those statistics you will know that many web entrepreneurs or internet marketers are looking for effective ways or methods to jump into the bandwagon of selling websites for profits.

A search on Yahoo for the keyword “website business’ will bring in about 2 billions websites and blogs that are involved in the website business or virtual real estate industry.

Today I am going to give my readers a review about a unique and one of a kind private website flipping membership site that deals in selling websites for profits.

The membership site is Equitymillions.

I personally knew the creator of Equitymillions from the private RJ forum.

Their names are Brian Owens & Tyler Ellison.

Being the most active and respected forum members who always comes out with a brilliant and new ways to make money online and i am not surprised that they created Equitymillions out of their years of doing online business and helping others to make money online.

Even the Richjerk himself endorsed their website business membership site and the Richjerk is well known to the forum members that he never recommends crappy or low quality systems for his massive subscribers list.

Here’s a few benefits that their website business members get when they join the membership:

a) There is a forum and a marketplace for members to buy and sell websites

b) The top poster in the forum will work one on one with Brian himself on site selling.

c) Monthly site selling summits

d) Brian and another internet marketing guru will do a conference call with their members to guide them on virtual real estate business

e) They will teach you on how to make 1000s of dollars per month with a tiny list of less than 20 people.

f) 30 videos inside member area that teaches you every tricks and tips in your website business niche.

g) Free website hosting that comes with site builder tools for a great looking websites for those non techie members.

h) More than 4,500 templates for your website design that you can choose from.

There’s a lot more to it but I just want to mention the key point here so that you will understand what it is all about.

I am confident that the website business will continue to grow and more smart people will jump in the bandwagon and sell websites as their source of income.

Thank you for reading and good luck.