In this podcast Tom Lyons and Grant K. Wacker discuss important questions regarding where your business is heading. What’s the value of your business? What happens to your business if something happens to you? Is there a plan for your family? Is there a management team in place in case of an emergency? Is there a succession plan? Who is going to take over your business if something happens to you?
Durwin A Long, Ph.D. leads the development and delivery of executive and professional development programs at the University of St Thomas. These programs build the leadership capacity of individuals and the organizations they serve. In this podcast we discover that thousands of participants benefit from more than 200 programs offered thru the Opus College of Business.
Michael A Ryan is the director of the Small Business Development Center (DBDC) at the University of St Thomas. The SBDC provides business consulting services to small business in the Twin Cities Metro area. This service can help business owners develop strategies, attract customers, increase sales and improve profitability along with a broad range of other offerings. Mr Ryan is also involved in the Growing America Through Entrepreneurship (GATE) program which helps individuals start businesses and is funded by the US Department of Labor.
In this podcast Mr Soderling tells us about an alternative to selling a business in the form of a recapitalization. This is essentially a partial sale of a business that allows an owner to take a distribution and add capital to take advantage of growth opportunities. It also allows the owners to get paid a second time in five to seven years when the business is bigger and more profitable. This process brings in more capital, a new board of experienced directors and significant new non-financial resources to grow the business and plan for the second sale or exit strategy some years down the road.
In this podcast Ms Ronning tells us about the mission of Women on Boards and the important opportunity to allow future board members to hear from and network with existing board members. She tells us that these national events show future board members how to prepare themselves to become board members and teaches them about the responsibilities, duties and possible liability exposures of serving on boards can involve. These are mentoring and coaching events that help those in attendance to understand what serving on Boards of Directors is all about and to decide if that is something they want to aspire to.