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Have you ever received an LOI (Letter of Intent) or presented someone else with one? Sometimes these non-binding documents can be mistaken for contracts. But are they entirely non-binding? Find the full video "What you need to know about an LOI (Letter of Intent)" here: https://zurl.co/JnkQ If you have more questions about this video, leave a comment or book a call with an experienced M&A business consultant by visiting https://zurl.co/TFVl #mergersandacquisitions #buyabusiness #businessowner #company #educational #learning #education

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In small business, brace for highs & lows. Help may be needed, via time, money, or advice. Before adding partners to an LLC, assess legal and operational impacts. After agreement, follow steps to add LLC members. https://lnkd.in/dXzFjHCM

First, let me introduce myself! My name is Saad Aslam, and I assist the senior generation of family businesses in passing on their business responsibilities to the next generation so that the seniors can spend their remaining life happily and comfortably, while the younger generation has a clear pathway to lead the business.. I got into this field while pursuing my PhD. I discovered that when a business is handed over to the next generation, only 25% of it survives, and when it goes to the generation after that, only 15% can make it. This problem intrigued me, so I started researching and have read over 250 books and articles on this topic. I keep learning and researching every day. I visited over 20 successful businesses in Pakistan run by the third and fourth generations to understand their business models. Now, let's begin the training. First, answer this question: What comes first in your family business? The business or the family? The simple answer is balance. Give equal importance to both family and business. When it comes to business, prioritize business needs. When it comes to family, prioritize family needs. Family business owners often wish for their business to continue with the next generation. But when these businesses pass on to new generations, they can't rely solely on business concepts and techniques. To understand this, let's look at this equation: Family Satisfaction + Business Performance = Family Business Success. The long-term success of a business depends on two things: Business performance: This includes how well the business is doing, maintaining quality, and growing. Family satisfaction: Ensuring all family members are happy, conflicts are resolved quickly, and everyone is leading a satisfied life. Now, what do I mean by family business succession? I use a three-circle model to explain. All family members need certain characteristics to run the business and family comfortably. You need to categorize yourself as either a family owner, family employee, or non-family employee. This helps us understand where you fit in and what your boundaries are. Succession in family business means transferring these three circles to the next generation. If you focus on just one circle, you'll miss out on identifying potential problems and finding solutions. The first task is to identify individuals in each circle and understand who will take over ownership, authority roles, or management. Now, let's think about the training. What skills are needed to run the business? How should relationships be managed within the business and family circles? These three circles tell us what requirements are needed and how to manage them well. Today's tasks are: Inject family members into the three-circle model. Attend free training on FBS Consultant. Skip the strategy session at the end. They will call to discuss, and if you're interested, the entire process will be paid. https://lnkd.in/dZZfubFx

Came across this Youtube video by Yu Fu. Its pretty amazing, and I wish I had such a video to guide me when I took my first step into practice. I agree on many points - Asking yourself which practice area you want to try, identifying whether you fit in the firm, sussing out the best remuneration options available. What I feel needs to be emphasised is that the modern legal career doesn't have to be one that is simply divided into simply dispute resolution / corporate and transactional. I disagree that one should head towards dispute resolution if "oh I'm a mooter" or "I like adversarial work". And to think that there is no adversarial work in Corporate & Transactions would be quite misleading. The legal world today is vast. You have the opportunity to begin from an in-house role today if you like. You can specialise early - Focus on compliance work if you like. You can make an entire career out of risk management. Modern areas of law have emerged in personal data protection and privacy, financial and regulatory, (and personally speaking, commodities trading!). Just because you are in litigation/dispute resolution doesn't mean that you can't advise on contracts or draft transactional documents. And my corporate friends would raise their fists in protest to hear that their work does not have a direct impact on changing the law! The problems for law firms today remains the same - balancing the drive towards profit while engaging the trainee lawyers to train and retain talent. These have been succinctly described several times over the years, and they won't be going away anytime soon (see this excellent 2018 article by Justice Hri Kumar: https://lnkd.in/gQ7PeJy2) I wish training as a lawyer could be as structured as the way a commodities trader is groomed. That means developing the core competencies by starting off being an operator, middle office executive, or credit analyst, and then taking on learning opportunities eventually in dealmaking. But its not often that one is blessed to have such a career journey. The heart of lawyering is the love of the narrative. We document the start of a legal relationship and analyse how that relationship's growth (and sadly quite often, its demise) gives rise to rights and obligations. We do our best to steer the narrative in our client's best interests. That doesn't change, regardless of your choice of area of practice. I say, if you want to have a great start, then choose the narrative you feel you are best suited and want to write.

3 lessons you must know before learning a Skill. Lesson 1: Only Learning cannot lead you to Earn Money. Lesson 2: Learning a Skill can Lead you to a Job but you cannot start a business by only learning one Skill. Lesson 3: Growth Takes Time. REPOST - Like (And let us know if you have learned something new today)

🚀 Real Experience vs. Classroom Theory: What Truly Builds Success? 🛠️ Dive into our latest blog where we break down why hands-on experience in the contracting world not only teaches resilience but accelerates success far beyond traditional classroom theories. 🔗 https://lnkd.in/e234Kq8K 👷♂️ From navigating unforeseen challenges on-site to mastering the art of quick decision-making, our journey in building one of the fastest-growing contracting businesses showcases the irreplaceable value of being in the trenches. 🏫 While academia offers valuable insights, nothing replaces the lessons learned from the ground up. Join us as we explore real stories of triumph and the strategies that truly work. 💬 Share your thoughts below or tag someone who’s crafting their own success story in the real world! 🔥 #RealWorldSuccess #ContractingLife #BusinessGrowth #BeyondTheBooks

Becoming WBE or MBE certified can help a business owner qualify for contracts offered by some of Chicago’s largest institutions. Our next free coaching workshop will review the specific steps needed to become WBE or MBE certified, additional criteria that institutional buyers are seeking, and the role that A4CB plays in helping connect small businesses with institutional buyers. Register: https://loom.ly/MRJotz4

Do you find that when you outsource tasks ❌ they lack consistency, ❌ are rarely completed to your specifications, and ❌ quite frankly you're running low on patience and sortakinda loathe the thought of training a whole nother VA?! If so, you 𝙣𝙚𝙚𝙙 SOPs! 🙏They will save your TIME, DOLLAS, and SANITY (and your VA's too🫶) as you grow your Education Biz!! Watch this quick video to get started. And if this sounds like what you need, I have a gift for you in the comments 😉 #teacherpreneur #clientattraction #organizationtips #businessgrowthstrategy #delegatethenelevate

Today, I had the pleasure of attending day one of a mediation training hosted by the wonderful Charlotte from Pragmatism. The training is focused on teaching attendees how to host mediation processes to support people practices within a business. I'm excited to continue learning over the next two days! #MediationTraining #Pragmatism #PeoplePractices #BusinessTraining