Transition Planning
You’re ready for “what’s next.” Is your business?
There comes a time in every business owner’s career when they’re ready to move on. And like all crucial and strategic decisions, you want your transition to be well-timed, well-planned, and successful.
For business owners who intend to hand their business to a successor in the next 6 months to two years, there are a whole range of decisions, plans, and considerations to be made.
Transition Planning
Whether you intend to retire or put more energy into another venture… whether your kids are already involved in the family business or aren’t going to be a part of the next generation of leadership… whether you have already begun to inventory your business, or are only beginning to explore the possibilities for your future….
Transition Planning services include:
1) A one-hour Discovery Consult to identify your goals and timeline for transition.
2) Comprehensive review of financial information including tax returns, current financial reports, assets and inventory.
3) An initial “opinion of value” about how much your business is worth, including an assessment of your current level of “goodwill” in your business, and where it needs to be in order to sell or successfully hand over your business to a successor.
4) Contingency planning to help minimize the impact of unexpected events on your transition plan and provide clear instructions for your successor to access key documents and professionals to complete the transition if you are unable.
And when you are really ready to move on, I connect business owners with professionals who will take you through the process of selling your business, and I can also help handle “soup-to-nuts” details of the actual transition.
Ready to plan what’s next for you AND your business? Schedule a complimentary Strategy Session to get started.