by Rena Striegel | Jul 14, 2017 | Succession Planning
Succession Planning – Tip #5 Tip #5 – Get outside help with your business succession planning. Lawyers, accountants, financial advisors – there are many professionals that can help you put together a successful succession plan. There are even companies that...
by Rena Striegel | Jul 13, 2017 | Succession Planning
Succession Planning – Tip #4 Tip #4 – Train your successor and work with them. How can you expect your successor to take over and run your business successfully if you haven’t spent any time training him or her? Your family business succession plan will...
by Rena Striegel | Jul 12, 2017 | Succession Planning
Succession Planning – Tip #3 Tip #3 – Get over the idea that everyone has to have an equal share. While this is a nice idea in theory, it may not be in the best interests of your business. Remember that management and ownership are separate business succession...
by Rena Striegel | Jul 11, 2017 | Succession Planning
Succession Planning – Tip #2 Tip #2 – Involve your family in business succession planning discussions. Making your own succession plan and then announcing it is the surest way to sow family discord. Opening a dialogue among family members is the best way to...
by Rena Striegel | Jul 10, 2017 | Succession Planning
Succession Planning – Tip #1 Tip #1– Start business succession planning early. Five years in advance is good. Ten years in advance is better. Many business advisers tell budding entrepreneurs to build an exit strategy right into their business plan. The point...
