Creating a Strategic Contingency Plan
As a business owner or manager, you probably spend too much of your day making decisions regarding marketing, employee relations, inventory, hiring/firing, payroll, banking, and litigation. Yet, how much time do you devote to creating a Plan of Action that takes place in the event of your unanticipated death?
Wait!–before you move to the next article thinking this is only another boring insurance discussion–read on. In its highest and best use, insurance is designed to deal with unanticipated death; but it only provides the funding for a plan if one is in place.
That’s where Strategic Contingency Planning comes in. More…
Entrepreneurs Face “Field of Dreams”
Family Business Forum News
by Jim Klaes
Rieva Lesonsky, Editor in Chief of Entrepreneur Magazine, spoke to members of the UTEP Family Business Forum about her own personal experiences growing up amid two family businesses during a luncheon address at the El Paso Club on Friday, March 10.
Ms. Lesonsky, who was appointed to the Small Business Administration’s National Advisory Council in 1994, has been associated with all types of business–family and otherwise–during the course of more than a dozen years with Entrepreneur.She also is a frequent guest on national television shows, such as “Oprah,” speaking about a variety of topics such as women in business and family business.
Lesonsky told how growing up in the world of family business differs from the real world.”I never heard of working 9 to 5 until I was almost out of high school,” she related.”I thought all dads worked on Saturdays.”Her father and one grandfather owned a men’s clothing store, while her other grandfather owned a liquor store with her uncle.Both businesses, however, failed. More…