Actress Kemi Afolabi Adesipe showed off her newborn daughter Nadia to her Instagram followers. Nadia was born to Kemi Afolabi and husband Wale Adesipe 41 days ago. Kemi shared photos of her child and went on to offer up prayers for the newborn. See below. The post Actress […]
Privately held family businesses have a lot of freedom to define success. Yet many founders and owners aren’t clear about exactly what they want their company to achieve, which leads to conflicting priorities and unclear decision making.
Ask yourself whether you are most interested in growth (maximizing the financial value of the business), liquidity (generating cash flow for use outside of the business), or control (retaining decision-making authority).
Achieving all three goals is difficult, if not impossible, so you’re better off focusing on one or two. Think carefully about why you started the company and which of the three goals are most aligned with your objectives.
And don’t forget to revisit your choices as things change, whether they’re external factors like the economy or internal factors like a shift in senior management.
What worked well in one environment can be a disaster in another.