Succession Plan

Plan for the worst…Hope for the best

At some point in your career as a small business owner, you will find yourself either needing or wanting a partner (I use the term “partner” in the loosest sense of the term). Whether it is for the purposes of adding/retaining talent, expanding your business and talent pool, sharing expenses, or building a succession/exit plan, finding […]

Create a Simple Succession Plan

Every business and client base is unique. But, there are some common core elements for advisors to consider if they want to begin developing a succession plan or internal ownership track for the next generation. We have seen and developed a wide variety of plans for our clients and know it’s easy to get bogged […]

Secrets to a Successful Succession

Great article from Matthew Halloran on succession planning. He makes 10 good suggestions for buyers/sellers to be thinking about, here is a quick summary: Start your successor search early. Hire an experienced broker to help. Make sure your successor can sell. Hire a transition coach. Buyer, be ready and willing to pay a fair price. […]

Getting the Most Value Out of Your Business

Developing a succession plan is a great tool to ensure your business continues to grow while you eventually work less and begin to realize the value of your business. But, a key piece of developing a plan for you and your business is having the right successor. For some, this person may be an existing […]

How Soon Is Too Soon?

As a small business owner, there are many things that fill your typical day, most focused on either maintaining the business you’ve built or on ways to grow the business. Having worked with small business owners over the last decade, I know most of you reading this post don’t spend any measurable amount of time […]