Succession Planning

As a business owner, you have to keep your eye on your company’s income and expenses and applicable tax breaks. But you also must look out for your own financial future. And that includes creating an exit strategy. Buy-sell agreement When a business has more than one owner, a buy-sell agreement can be a powerful tool...

As we discuss the importance of transition planning, business owners tend to invest more time in planning for a trip than planning for their business’s transition. Why is this? The short answer is that it is easier for owners to focus on the “here and now” than to plan for future changes to their organization. In fact, less than 15 percent of business owners have a plan for their business transition, even though more than half of them plan to transition in the next three-to- five years...

Thirty-five percent of small business owners plan to fund their retirement by selling their business. We developed a four-part webinar series to help you tackle the most common questions and concerns related to succession planning. This fourth webinar will show how maximizing proceeds from a sale or transfer of onwership is an important factor to consider when planning for the future. Gain useful inishgts on investing sales proceeds and planning to sustain your lifestyle and family wealth to aide in your succession planning process...

Eighty percent of business owners are not focused on maximizing value as they transition their business. Instead, they are focused on the effect the transition will have on family members, key employees, customers, suppliers and their community. While keeping key personnel in mind is important, only 15 percent of business owners who plan to transition from their business have hired, trained and developed a plan for employees to take over key operating responsibilities. We've developed a four-part webinar series help you tackle the most common questions and concerns related to succession planning...

Forty-eight percent of business owners and executives will transition out of their business within the next five years. We've developed a four-part webinar series help you tackle the most common questions and concerns related to succession planning. This second webinar will show why understanding the value of your business is an important factor when planning for the future. 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...

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...

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

The construction industry has seen great improvement in economic outlook, and now the baby boomers are ready to transition their companies to new leadership, but the rules of the game have changed. Selling their business to a third party is becoming more competitive with fewer buyers often coupled with lower prices. As a result, there has been a measurable shift to “insider” transitions to next generation family or key employee owners. Working through the inside ownership changes with family members, management or employees is increasingly complex … taking longer than third party sales...