family owned business

Last week, I asked you to step back and identify where your business isn’t running as well as it should.

Most people can do that pretty quickly. There’s usually a part of the business that feels slower than it should be, more manual than it should be, or harder to manage than it needs to be. That’s a good starting point.

But here’s where most businesses go next—and where things start to break down: They assume the solution is technology.

More specifically right now, they assume the solution i…

 There’s a question I keep hearing right now, and it usually comes up pretty quickly in a conversation:

“How should we be using AI in our business?”

It sounds like the right question. It feels practical. It feels like something you shouldhave an answer to right now.

But it’s actually the wrong place to start.

In last month’s Ask the CFO session on AI with Ken Scales, we kept coming back to something much simpler. Ken Scales said it directly:

“What are we trying to achieve first? It’s not, l…

When preparing for a business transition—whether passing it to a family member, selling to an external buyer, or stepping back from daily operations—certain risks can significantly impact the process. Two of the biggest challenges business owners face are customer concentration and management team readiness. These factors can affect business valuation, buyer interest, and long-term stability after the transition. Addressing these early can make the difference between a smooth transition and one …

For many business owners, an external sale is the best path to exit. Whether selling to a competitor, private investor, or private equity firm, a well-planned transition can provide financial security and ensure the company’s long-term success. However, selling a business isn’t as simple as finding a buyer—it requires careful preparation, strategic decision-making, and an understanding of the potential benefits and challenges.

Key Considerations for an External Sale

One of the most important s…

Passing your business to the next generation is a major milestone—one that requires careful planning, strategy, and open communication. While the idea of keeping a business in the family is appealing, the reality is that many family-owned businesses don’t survive the transition. In fact, only 1 in 3 make it from the first to the second generation, and just 1 in 8make it to the third.

As a CFO with over 30 years of experience, I specialize in helping business owners navigate these transitions—av…

If you run a small or family-owned business, you’ve likely felt the hesitation around raising prices. Costs are climbing — payroll, materials, insurance, freight — and yet your pricing may still reflect a different economic reality. The math says one thing. Emotion says another.

Over the years, I’ve seen the same concerns surface in conversations with owners. Let’s address them directly and calmly.

Misconception #1: “Customers will all leave if we raise prices.”

This is the fear that keeps mo…