Join Teresa Morrow (
owner Key Business Partners, LLC.)
Not exact matches
In a
business owner's case, that mysterious overlord could be a
key investor, a
partner, or the members of your advisory board.
Some
business owners set goals, but then fail to share that knowledge with others in the organization, employees, consultants and
key business partners.
Being a successful
business owner and leader can make it hard to take a backseat position, but Herjavec says letting his professional dance
partner Kym Johnson direct him was the
key to their success.
«While consumer sentiment in our
key geographies remains relatively subdued, we have seen good progress in our Australian Beer, Spirits and Wine
business, as the beer market decline has started to slow and international brand
owners have chosen to
partner with Lion,» said Mr Irvine.
The
key question, he says, is whether «all
owners of the
business are
partners of a single entity from which the firm's profits are distributed» — something he insists is the case at K&L Gates.
Life insurance protection is also important if you are a
business owner or a
key person in someone else's
business, where your death (or your
partner's death) could prevent the
business from continuing its operation.
Typically designed so that the surviving
business partner would have the money to purchase the company interests, life insurance for
businesses can also be structured as «
key person insurance,» where if a
key employee dies the
business owner will receive a benefit to help offset the financial impact of losing the
key employee.
A
key person is someone whose skills are essential to the success of the
business, such as an
owner,
partner, or employee.
If a
partner,
owner or
key employee is suddenly gone, the
business can deteriorate very quickly.
The
key question is whether the individual involved in the
business is receiving benefits as a
business owner (shareholder,
partner / LLC member) OR as an employee.
In the event an
owner,
partner or
key employee dies, life insurance could also ensure
business can continue.
It's also often used to financially reward a
business owner,
partner or
key executive.
The untimely death of an
owner,
partner, or
key person in a
business when there is no
business life insurance such as a buy / sell insurance policy or
key man insurance in place can be the beginning of quick end.