Succession Planning

One of the most challenging aspects for business owners is deciding how the business will be passed on to a new generation of owners. Each situation presents its own set of unique options and decisions to be made to provide a roadmap for a successful transition of the business. Proactive planning will help create the optimal transition for the exiting owner and the new generation.

The transition of a company is an infrequent event with results that will permanently affect the lives of those involved. For this reason, it is essential to work with an experienced advisor to guide you through the complex process. Our firm has significant experience guiding business owners and management groups through the process of a successful transition. From initial strategy development to successor identification and training, we are here to assist you in reaching your transition goals. Whether you are transferring ownership, selling a segment of the business or merging with another entity, our team will guide you through the journey to obtain the best possible outcome.

While the experience for each owner is different, there is a planning process that is generally followed. It starts with defining goals, expectations and outcomes and transitions to a series of steps to ensure the desired outcome is reached. There are many things that should be considered along the way to preserve the continued financial health of the company and the proper compensation to the exiting owner. Our comprehensive process examines each angle of the succession plan to ensure an optimal outcome.

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If you are considering transitioning your company to a new owner or thinking about how to exit your company, we want to help. For additional information, click here to contact us.