Struggling to find and retain tradespeople? Deciding when the timing is right to replace that 30-year-old machine? Noticing that your technology systems are slowing you down rather than making you more efficient? You’re not alone. Our 2017 manufacturing outlook addresses the biggest issues facing manufacturers this year and offers perspective from a firm that’s been working with numerous manufacturing companies for 45 years.
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Cray Kaiser featured in Family Business Magazine
Cray Kaiser is proud to be featured in the January/February 2017 edition of Family Business Magazine! Are you including the next generation of your business leaders in your accounting conversations? The article, Exposure to accounting decisions is a key part of leadership training, was written by Karen Snodgrass and explains why it is important to involve the next generation of leadership in financial discussions.
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Are You In or Out? Succession Planning for Family Business Owners with Children Both In and Not In the Business
Like many family business owners addressing their succession plan, Diane and Tom zero in on the family business and neglect to include their entire estate in their planning efforts. Proper succession planning considers assets beyond the family business. Founders should evaluate their whole estate and identify assets outside of the business that can also be bequeathed in an effort to achieve fairness.
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Family Meeting Best Practices
A family meeting is a gathering of all family members related to the owners of a family-owned or privately held business, regardless of role in the business or the family. Our philosophy is that even entrepreneurs and unrelated business owners have a family business. The business itself is a ‘family asset’. Click here to read if you’d like to learn more about how to have family meetings.
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Intrapreneurship: Sustainability for Your Business
Intrapreneurship embodies risk taking and innovation within an established business. When evaluating the sustainability of any organization, one might revisit the business model and consider new business lines that could resist the numerous tugs experienced in the lifecycle of any business.
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The Crash Card: A Tool to Protect Your Family and Business When You No Longer Can
You get an oil change every three months to protect your car. You get a check up every year to protect your health. You file your taxes every year to prevent issues with the IRS. But what are you doing to protect your family and your business when you will not be around to protect them yourself?
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When it’s NOT All in the Family: Succession Planning for the Family Business
Your son John has the best sales record on the team. Your daughter Mary’s advertising campaign was a huge success. But despite their talents and success, neither has a head for numbers. And neither has much savvy when it comes to culture and management. Kevin, your right-hand man for the last 15 years, runs operations smoothly, managing both finances and people with ease. He’s the obvious leader. But he’s not family. And he’s not an owner. As you begin to plan for your retirement, how do you do what’s best for your family without risking losing Kevin? Focusing on the company as an entity rather than the people as individuals allows you to set emotion aside and gain the perspective you need.
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“It’s Not Fair!” Managing Compensation Among Siblings in a Family Business
“It’s not fair.” When your children are toddlers, this statement hits you like nails on a chalkboard. But when you hear it from your grown children, it can quickly turn from an annoyance to serious family drama. As a family business, attempting to keep children’s compensation fair can be a minefield. Following a few simple compensation-planning strategies helps you maintain peaceful family dynamics while strengthening your business at the same time.
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Exposure to Accounting Decision-Making Builds Wise Next-Gen Leaders
As a family business owner, you are pleased when you walk by a marketing team meeting and see your son suggesting ideas for the new website. You have built a strong, successful business, and you are proud to be able to pass it down to your children someday. Inside this article you will seven key ways your business will benefit from including the next generation of business owners in accounting meetings and practices.
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An Exit Plan: A Strategy for Your Future and Your Legacy
As a business owner, you are immersed in your business. You wake up thinking about strategies for growth. Ideas for new products hit you while you are out walking the dog. Solutions to operations issues come to mind while you are falling asleep at night. You spend much of your time and energy building your company into a strong and successful business. But do you spend enough time thinking about how you are going to walk away from it?
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