Show Date: 09/09/07 Topic: Family Business

Special Guest
Nate Sachs
more guest info

This Week's Topic: "Passing Down the Family Business: I'd Rather Pass a Kidney Stone!""
Yeah, yeah, we know it's a cheesy title, but business ownership transition requires a sense of humor to get through it. Of course we'll talk about the practical aspects of the transition (legal, financial, technical, etc.) but the really interesting part is emotional. Think about it...giving up your "baby" to your baby! They both may have grown up, but are they ready?

Our guest in the first hour is Nate Sachs, President, Blueprints For Tomorrow, a financial planning consultancy. Nate is a Certified Family Business Specialist and has published several articles focusing on exit-planning strategies.

Sachs's breakthrough "Blueprints for Tomorrow™" concept is a series of blueprints that helps business owners deal with the eight "what-ifs" that keep them awake at night: What if I die? What if I get sick? What if I get an unexpected offer to sell? What if I want to sell my company? What if a key employee wants to leave? What if I want to be a more passive partner and not sell? What if I want to transition ownership to someone outside the company? What if want to liquidate my business and just go home?

"How I Did It" with Guest Entrepreneur
They're never satisfied..."Can I have a pony? Can I have an allowance? Can I have the business?" What's a parent to do? Tune in and find out what Bob Swier, President, RDS Electric did when his daughter Jenny wanted to take over the family business! Was he shocked? Did he blow a fuse, or did he see the light? (Sorry, couldn't resist!)