Do you know what your business is worth?

Have you ever wondered what your business is worth? At some point, your business must be sold unless you are planning to give it away. If you are a shareholder of a corporation, a member of a limited liability company or a partner in partnership, there should be a mechanism in the corporate bylaws, operating agreement, or partnership agreement that establishes your ownership value. If not, it is time to think about drafting one.

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Chocolatiers enjoy sweet success

Jennifer McConnell, left, and her mother, Susan Tanner, are co-owners of Covered in Chocolate! The Theresa specialty shop is relocating to Watertown's Franklin Building. Johnson Newspapers File Photo.

By Andrea C. Pedrick
NNY Business

Ask any successful entrepreneur and they will tell you owning your own business is a twenty-four hour job. It’s not only about running the day-to-day business – it is about developing new ways of doing business to keep your products relevant and attractive to new customer bases and networking with others. It is about change management and managing the risks associated with change. Failed entrepreneurs will admit they were shy about ‘rocking the boat’ or trying something new when they already had a successful product.

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What’s happening here?

A crew from Raulli Ironworks, Syracuse, works on the frame for the SUNY Potsdam Performing Arts Building. Photo by Melanie Kimbler-Lago.

SUNY Potsdam Performing Arts Center

Location: SUNY Potsdam campus, off Pierrepont Avenue.

Size: 92,000 square feet.

Architects: Pfeiffer Partners Architects PC, New York City.

Contractor: Northland Associates Inc., Liverpool.

Cost: $41 million.

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Berry Brothers Lumber rolls with the changes

Lee Berry of Berry Brothers Lumber in Adams holds scrap cardboard and wood in front of the animal bedding that it is recycled into. Photo by Justin Sorensen.

By Joleene DesRosiers
NNY Business

Berry Brothers Lumber in Adams has undergone some extreme transformations over the past 60 years that owners Gary and Lee Berry never could have anticipated. From overseas industry changes to a fire in 2008 that devastated the facilities, the company that started as a saw mill in 1947 has managed to keep its doors open, despite any changes. Berry Brothers Lumber still handles wood – but in a completely different way. [Read more…]

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Bernier, Carr engineer named national fellow

Kris D. Dimmick stands in front of a wall of plaques that he played a part in helping Bernier Carr & Associates, Watertown, receive for their public works in the region. Photo by Amanda Morrison.

By Nancy Madsen
NNY Business

Kris D. Dimmick, vice president of municipal engineering at Bernier, Carr and Associates, Watertown, is a public works leadership fellow, one of 96 North Americans to receive that honor.

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Excitement, caution stir around 2012 ag outlook

Where are investors putting their money? They are putting their money into soil, a natural resource that is becoming increasingly important as an economic investment tool.

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20Q: John D. Martin, Alcoa Primary Metals

John D. Martin is the location manager for Alcoa Primary Metals in Massena. Photo by Jason Hunter.

John D. Martin, location manager for Alcoa Primary Metals, Massena.

  • Age: 47
  • Hometown: Elkins, W.Va.
  • Family: Married, wife, Beverly, and five children ages 18-24.
  • Education: Bachelor’s degree in mechanical engineering from West Virginia University, Morgantown, and a master’s degree in applied behavioral science from Bastyr University, Seattle.
  • Professional: Alcoa, 26 years, most recently was plant manager in Warrick, Ind., before moving to Massena to take current position in October 2010.
  • Last book read: “The 21 Irrefutable Laws of Leadership: Follow Them and People Will Follow You,” by John C. Maxwell.

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Some sage advice for home buyers

Just what does a buyer need to do to buy property?

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Take stock in your business’s future

In a quote popularly ascribed to Winston Churchill, he once said, “Failing to plan is planning to fail.”  It’s a quote we have hanging on our wall at the Small Business Development Center.  I often tell my clients, imagine jumping into your car and heading for San Diego without some preparation – no road map, no gas credit card, no air in the spare. That might be something my 20-something son would do, but that doesn’t make it a good idea.

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GWNC Chamber Speaker Series – Economic Forecast – Jan. 24