Short Description of the Presentation:
The process of selling a company is very detailed and time consuming. The owner seldom decides on day he or she will sell the company and by the end of the week the sale is closed. Selling a company takes time and planning. This presentation will detail much of what needs to happen “before” the company can be offered for sale.
Definition of Succession Planning
Value of Documented Systems
Planning the Exit as Early as Possible
- Business plan vs. Activity Plan
Wealth Transfer
- Typical percentage of wealth lost via each succeeding generation
- Why wealth is lost
- How passion effects the sale
Typical Business Failure Rates
The Race Is Won or Lost in the Exchange
- Training for the exchange
- Keeping up the pace as you run the race towards exchange
- Planning for the exchange
Valuation of the Company
- Routinely have the company valuated (every 3-5 years)
Ten Action Steps for Successful Secession Planning
- Ten Action Steps
- Suggested timeline
