On September 14, 2016 Newport Partner and Managing Director Michael Evans co-led a webinar sponsored by Moss Adams, the CPA firm, about Succession Planning. The webinar ranged widely over family business and exit and succession issues, providing significant background on these topics and actionable ideas for participants to consider.
Note: Fred Fink, is the co-author of this blog.
The business model of professional services firms—whether lawyers, accountants, doctors, architects, management consultants, or others who deploy specialized “white collar” expertise to serve clients, usually with some degree of fiduciary responsibility—is based on sharing of expertise between practitioners.
Tags: Business Advice
A basic Human Resources best practice is to perform regular employee performance reviews. Larger companies devote significant HR resources to gathering, synthesizing and reviewing feedback from managers and then presenting the results to employees. They try to ensure that feedback is objective and not discriminatory or offensive. They strive to rationalize how evaluations relate to decisions on employee compensation.
Newport Board Group has recently released a white paper that addresses an issue of importance to all organizations: mitigating the risk of cyber attack.
The new white paper by David Wilson, Newport’s New England Managing Director, and Marcus McInnis, Former Director of Operations for the Center for Cyber Security Innovation (CCSI) at Lockheed Martin, questions some commonly held assumptions and offers some perhaps surprising advice.
Angel, venture capital, and private equity funding have recently produced more startups and early stage companies than ever before. Which has led to a debate about whether we’re in a “startup bubble” that is likely to create havoc when it bursts.
We asked our partners with experience in both startups and venture capital/private equity funding for their thoughts.
To say that a main goal, perhaps the main goal of any company is to make money is to state the obvious — or is it? There are times when other goals are more important than profitability, especially when a company is ramping up and investing in market penetration and infrastructure. It’s a rare company that makes money consistently from Day One of its operations.
In a recent blog, I discussed trends that are converging to create an opportunity for the $470 billion U.S. franchise industry to expand into new franchise concepts. Specialized technology-based services represent an opportunity for franchising to expand beyond its traditional confines of retail services.
As an advisor to executives, entrepreneurs and investors in the senior care industry, I am always concerned to understand — and try to influence — the public’s and the market’s view of the senior population. This is an enormous market opportunity. A striking statistic about the growth of the senior population: the U.S. Census estimates there will be 834,000 centenarians in 2050. Senior care is a unique industry; it evokes the concern everyone should share that their parents, grandparents and themselves will be in good hands when they reach the latter stages of their lives.
Emerging growth companies must climb a steep hill to penetrate their market, grow revenue, and attain profitability. Setbacks, disappointment, and frustration are common occurrences. The company founder is driven by a vision — and by the upside that comes from owning some or all of the company. But most employees are only getting a paycheck — and the chance to get in on the ground floor of what they hope one day will be a fast growing company.
Employee morale is an indispensable driver of a company’s success. It boosts confidence, commitment, and productivity. A drop in employee morale can quickly lead to disappointment and resentment — and an exodus of employees without whom the company can’t function.
We asked Newport partners how successful CEO’s they know respond to setbacks.
Note: John Isaza, Esq. is the co-author of this blog.
Content, including records and information, has become a pervasive and strategic part of companies — large and small.1 Records and information are commonly considered an important and strategic asset of any organization. 2Yet many companies treat this asset as, at best, a cost center — an important issue but not an urgent one. But this may be changing. A sense of urgency about content is growing. The regulatory environment is demanding accountability for the management of content. At the same time, liability for failing to control unfettered information raises the stakes tremendously. This blog explores this problem in a bit more detail and proposes an approach to manage it.