During this show, we cover the second part of a topic we started in Episode 195, the 7 Key Pitfalls When Transitioning My Business. Transitioning your business to the next owner will likely be one of the most difficult things you do in business. And you usually only get one shot at it!
Family can be a blessing and a curse. That’s true whether you are talking about real life or your business. At times we can become too “familiar” with each other. Usually when that happens with family in the business we will overlook things that we wouldn’t otherwise overlook in our employees or business partners who aren’t family. Too often, it comes to the point where someone needs to leave. So what do you do?
We are joined in studio by Alex Gertsburg, owner of The Gertsburg Law Firm), a law firm that is quite unlike other law firms you’ve encountered. In fact, The Gertsburg Law Firm is the result of lessons Alex learned earlier in his career working for a combination of big law firms and then going in house where he had to hire outside counsel. In short, Alex couldn’t find the right firm to work for or hire so he created it
Tonight is the second part of a show we started last week to talk about how to transition the business from one generation to the next. These two shows are geared to the current owner and questions and concerns they have. Net week we will get into questions from the next generation’s standpoint, but this week and last week’s shows should be helpful for you as well.
This episode was designed to be the first of a 2-part series focused on helping both current owners and potential next generation owners figure out how to transition the business. Well, we only got about half way through the questions for the current owner this week so we will cover the second half in next week’s show. After that we will get into questions from the next generation’s standpoint.