Myron Gellman
The Importance of Long-Term Strategic Planning
Strategic planning is an important, often overlooked facet of business growth. You see, business leaders who spend too much time working in the business forget to work on the business. The day-to-day pays the bills, after all. But if you want your business to stand the test of time, it’s important to step back and…
Do You Have an Exit Plan?
Many business owners spend decades building their companies. But there will come a day for all when it is time to exit. Too many business owners allow time to lapse, losing the maximum value and benefits of their lifelong work. Do you understand all of the options before you and have you devised a sound,…
Managing Director Myron Gellman Interviewed for August Issue of New Jersey Business Magazine
Myron Gellman, MBA, CMC, CBA, Managing Director with Mercadien, was featured in the August issue of New Jersey Business Magazine. The article is titled, “It’s Good to be in the Middle” by Anthony Birritteri, Editor-in-Chief of New Jersey Business Magazine, and addresses the attractiveness of the middle market within the professional services realm. Within the…
Failure to Plan Has a Price
I never worry about action, but only about inaction. – Winston Churchill “I haven’t decided what I ultimately want to do with my business, when I want to exit, how much money I’ll need, or whom to sell to. So how can I plan my exit? Besides, I don’t want to exit right now.” If…
Retire At Your Own Risk
Can you believe that the oldest Baby Boomers (who were born in 1946) will turn 70 this year? Although a lot of younger Boomers continue to be actively involved in the workforce, many older ones who started their own businesses are finally starting to retire. Removing a key person from daily business operations generally isn’t…
Devise Your Exit Strategy – An Early Start Helps Ensure A Good Outcome
Every company owner needs an exit strategy — whether that involves transferring the business to family members or selling it to a management team or a third party. Regardless of the strategy you choose, the earlier you begin planning your exit, the smoother the transition will likely be. And if your ultimate goal is to…
Family Business Planning – Handing The Torch To The Next Generation
Every family business must transition control to the next generation someday. But will the next leader be another family member — or is there a better choice outside the family circle? Successful succession plans don’t happen overnight. They take years (or even decades) of preparation, mentoring and training. So if you have borrowers that are…
How Buy-Sell Agreements Can Ensure Continuity
If you own a closely held business with at least one other partner, certain steps can be taken to guard against business disruption if you or the partner unexpectedly dies or becomes disabled. One of the most important steps is to create a buy-sell agreement. A buy-sell agreement is a critical component of business continuation…