Business Succession Planning

Monday, January 14, 2019

What is a Business Succession Plan?

Do you have an estate plan to finalize your affairs once you pass away? If so, you understand the importance of finalizing your affairs as you choose instead of allowing others or the state to make those choices for you. The same theory applies to your business. If you own a business, you need an “estate plan” for your business. Read more . . .

Tuesday, July 17, 2018

Entrepreneurs - Do You Have a Business Succession Plan?

You are a successful entrepreneur. You took a chance, poured everything into your start-up, and you built a successful and growing business. However, do not lose sight of the importance of planning for the future. It is easy to become so engrossed in the day-to-day business operations that you forget that there may come a day when you will need to exit your business or pass your business on to another person. Unfortunately, we all need to play for illnesses, injuries, incapacitation, and death.

Read more . . .

Monday, November 20, 2017

I Own a Small Company - Do I Need a Business Succession Plan?

As a small business owner, no doubt planning and foresight are critical to your success.  So after you’ve spent an entire career building your business by carefully preparing for every possible contingency, why would you change course at the end and leave the future of your business up to fate?  A good business succession plan will allow you to maximize the value of your business and assure its successful transition into the next generation’s hands.

How Do I Create a Succession Plan?

The first and most critical step in creating a business succession plan is to identify and clearly state all of your goals for the plan.
Read more . . .

Thursday, March 16, 2017

What Happens To My Business When I Die Without A Business Succession Plan?

When we are young and healthy, it usually doesn’t occur to us to prepare for life after we’re gone. While business succession planning may not be at the top of your list of things to do this week, a quick thought about how your family and valued clients will be affected once your gone might give you pause.

If you own a business, especially in a professional capacity, you have a duty to your clients to plan how your business will be handled once you pass.
Read more . . .

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