Succession Planning

With more than $10 trillion in business value to be transitioned over the next decade, have you considered what your business’ future may look like?  We've developed a four-part webinar series to help you tackle the most common questions and concerns related to succession planning. This first webinar will help you navigate through business succession planning and why it's important to get ready today. With examples of real succession solutions such as shifting ownership to family or key employees, external sales and the use of ESOPs, you will gain useful inishgts to aide in your succession planning process...

Whether you’re selling your business, acquiring a business, or merging with another company, retaining and engaging executives and other employees is a critical strategic move for a successful transaction. Here are five tips for motivating your key people, encouraging a high level of retention and engagement, and preserving the value of your business. 1. Communicate...

Whether you’re selling your business, acquiring a business, or merging with another company, retaining and engaging executives and other employees is one of the solutions for a successful transaction. Here are five tips for motivating your key people, encouraging a high level of retention and engagement,  and preserving the value of your business.   1. Communicate...

As published in Jackson Magazine A few important factors should play a major role in the timing and outcome of a business transition. Perhaps one of the biggest obstacles in a successful business transition is coming to a realistic, optimal value. Often times, owners think they know how much their business is worth (this may be based on what they have heard from colleagues or what they have read in recent industry publications). However, determining the value depends on many factors, some of which include:  Your industry segment  The recent history of performance Inorganic growth strategies focused on product and service differentiation The quality of the underlying business, patented and proprietary methods Customer base transferability and access to new markets, customers and technology...

Forecasting the future of your company isn’t an exact science. It’s impossible to predict every economic swing, technological advancement or political shift. And the ripple effects of each of these potential changes are equally capricious. How, then, do you future-proof your business?..

Start planning for the changing emphasis in estate planning President Donald Trump has a great deal of influence over a wide range of legislative matters, including the federal estate and income tax. One of his campaign promises was a repeal of the estate tax. The current structure provides that any person can transfer $5.49 million to their heirs in 2017 and pay no federal estate or gift tax ($10...

As featured in Jackson Magazine The U.S. is on the brink of an inevitable employment crisis: the Baby Boomer generation – comprising nearly 75 million Americans – has begun to retire in large numbers. In 2010, the percentage of retired baby boomers was 10 percent; that figure has nearly doubled today...

By 2030, the over-65 population will nearly double as members of the baby boomer generation (born between 1946 and 1964) age. Along with this demographic shift will be a sea change in a number of industries. Here’s a snapshot of three of them. Healthcare Managing chronic conditions, along with a patient’s level of disability, will increase the financial demands on our healthcare system...

Click here to check out this valuable tool for guiding succession planning conversations developed by Tom Deans from his book, Every Family’s Business...

Appraisals can inspire anxiety for many business owners. And it’s understandable why. You’re obviously not short on things to do, and valuations cost time and money. Nonetheless, there are some legitimate reasons to obtain an appraisal regularly or, at the very least, to familiarize yourself with the process so you’re ready when the time comes...