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Tag Archives: succession planning

4 Steps to Effective Communication

Effective Communication

In the home improvement industry, many operations are family businesses with several generations of tradition impacting decision-making. When it’s time for the previous generation to pass the baton to the next, sometimes tradition and discomfort about change can get in …

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6 Questions to Ask When Choosing Advisers

When hiring staff, most retailers put a great deal of effort into the application process to make sure they’ve found the right person. Choosing your business advisers is equally important. These are the people you rely on to help you …

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Preparing Your Succession Planning Documents

While you may not like to think about it, you need to plan for what will happen if you are abruptly unable to continue in leadership. To do this kind of succession planning, there are a variety of legal and …

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Plan Your Future With This Succession Planning Series

succession

Whether you are building your employee schedule for next month or investing in a new category without knowing how it will perform, you are often asked to make decisions that would be simpler if you had a crystal ball. However, …

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Planning for Succession With Gary Pittsford

gary pittsford

In 2020, Hardware Retailing is talking about succession planning in each issue of the magazine. To get the series started, we consulted with Gary Pittsford, president and CEO of Castle Wealth Advisors, a financial advisory firm that has been guiding …

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How I Did It: Became the 7th Generation Owner

Business training and a long family history in entrepreneurship still weren’t enough to prepare Margaret Clark for the challenges of passing a business from one generation to the next. The seventh-generation owner of Clarks Hardware in Ellicott City, Maryland, Clark …

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Preserving the Family Unit When Business Gets Rough

Family business

Employing family members can be tricky business. To your benefit, common culture, work ethic, trust and loyalty often run strong among family members who work together. However, having relatives on staff or in leadership can also present a challenge. What …

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10 Trusty Tools for Your Tool Belt

tools

You probably always have your favorite hammer, your trusty jigsaw and your adjustable wrench all within arm’s reach, but don’t forget some other critical tools to help your business blow the competition out of the water. Check out this list …

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