Select a story to learn more about succession planning
When it comes to succession planning, managing family dynamics is crucial
It’s important to maintain open communication and properly deal with any challenges resulting from family dynamics that could inhibit a successful transition.
Will your business survive the next generation? This owner has a plan
In family succession planning, it's important to engage all members in the process while considering what will be best for the business.
Preserve your farm's legacy with these succession planning tips
Not every member of the next generation may want to work on the family farm, raising questions about how to treat everyone fairly
When it comes to selling your business, timing is everything
Market factors may change and reduce the value of your business, no matter how hard you’ve worked to build it
Plan ahead: Successful family business transitions don’t happen overnight
It’s important to maintain open communication and properly deal with any challenges resulting from family dynamics that could create inhibit a successful transition
Why you should train your successor before you need one
Sometimes, the most logical buyer is a member of the management team who is already running the business
How to avoid generational clashes in succession planning
Even when family members, including children, are working in the business, they may not want to take over as owners. It’s important to maintain open communication so that everyone’s goals and aspirations are understood
What's your exit strategy? Ways to maximize the value of the business you've built
A business plan of three to five years can help to map out the steps required to maximize value and prepare the business for transition
ExitSMART Succession Assessment
Knowing the facts about your business can make all the difference. Take this 3 minute survey to find out if you're on the right track! We'll deliver customized results detailing where you're at in your succession planning.