American Business Brokers & Advisors - May 2022

Being a Better Grandparent

HAVE YOU ADAPTED TO YOUR NEW ROLE?

There are few roles as coveted as being a grandparent, but today’s grandparents do far more than slip $10 bills and hard candies to their grandchildren. While there are still opportunities for growth, new studies have found that grandparents are taking on active roles and loving it. Here are two prominent lessons on grandparenting in 2022.

traditions together. When it comes to navigating these waters, Good Housekeeping recommends talking about an approach with parents first. Some may choose to keep or remove certain traditions.

In contrast to this, the Good Housekeeping survey explained that grandparents “sharing outdated advice” was among the biggest frustrations for parents.

Instead, experts at Stanford Children’s Health recommend taking “grandparenting

Furthermore, grandparents are viewing their roles with grandchildren as active rather than passive. A 2021 Good Housekeeping survey of parents and grandparents

classes,” which provide new grandparents with the latest medical direction that parents are provided. And, if you feel obligated to share advice, ask first and make sure the parent knows it’s

Positive Progress: Supporting Grandchildren

The makeup of American families today isn’t cut and dry. An AARP survey found that one- third of grandparents are a different race than their grandchildren and most would support their LGBTQ+ grandchildren. While many grandparents find sharing pieces of their heritage is important with grandchildren, a 2021 Good Housekeeping article noted that many grandparents who share different ethnicities with their grandchildren welcome new cultures. In fact, many weave their

discovered that nearly 70% said they were “cooler” than their own grandparents and that they want to babysit, versus feeling obligated.

only your perspective. In all other scenarios, it’s best to keep your opinion to yourself and foster a grandparenting relationship that supports your grandchildren’s parents. Want to be a better grandparent? Sign up for a local grandparenting class; these are typically offered through medical or community centers.

Needs Work: Supporting Parents The 2019 AARP study shares that most grandparents surveyed believe they parent better than their grandchildren’s parents, but it may be best if that thought isn’t vocalized.

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The process of selling is never as easy as it looks, but the benefit is the cashing in on the many years of hard work for yourself and your family. To get the full details on what is involved in the selling of one’s business, send me an email at Terry@TerryMonroe.com with your mailing address, and I will send you a FREE copy of my book, “Hidden Wealth: The Secret to Getting Top Dollar for Your Business,” which is affiliated with FORBESBOOKS.

If you are just starting the process and have not connected with a buyer, then the selling process could take years until you find the right buyer who’s financially qualified. It is a very detailed process, and not all sellers are up to accomplishing it without guidance from a trained professional who’s performed this process many times before. Some business owners say, “Oh, I know my business is in good shape. I will work with my accountant and attorney, so things will be fine.” But let me ask you this: Who would you rather be talking to when it comes to selling your business? Remember that your business is probably the biggest financial asset you own, the resource you will draw on to retire and enjoy your golden years. Do you want to be talking to an accountant or an attorney who has never sold a business? Or would you rather talk to someone who makes their living working with business owners every day, preparing them and coaching them through the sale process — a professional who has done hundreds of sales transactions and is on the front lines working with buyers and sellers every day? Everyone wants the process of selling their business to go smoothly and accomplish the ultimate goal — a closing with the owner getting the maximum amount of money in their pocket, done with the least amount of stress possible. The best way to accomplish this is to plan and begin early by preparing the business for sale and by preparing you, the seller, so that you are in the proper mindset, ready to invest the time and effort it will take to accomplish your goal of selling your business.

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