Planning for Business Transitions

Got an exit strategy for your business? It’s like planning the perfect getaway but for your company. Having a solid succession plan is crucial—it’s the secret sauce to keeping all that value you’ve worked so hard to build over the years safe and sound. Whether your business is big or small, sketching out a succession plan sooner rather than later is a smart move. It’s all about making sure you’re set for a smooth handover down the line.

We’ll dive into crucial aspects of succession planning that every business owner should be thinking about—no matter where you are in your journey.

• What is a succession plan and why is it important? We’re talking about the game plan for your business’s future without you at the helm. Sounds serious, right? It is! We’ll explore why having this plan is like a safety net for your business’s value.
• Things to keep in mind while crafting your succession plan. There are a bunch of factors that can make or break a good plan. We’ll sift through these to help you build a solid foundation for your business’s next chapter.
• What are the different ways you can pass the torch? Exiting a business isn’t one-size-fits-all. We’ll look at the options so you can start thinking about what feels right for you and your business.
• Prepping your business for sale. If selling is the route you’re leaning towards, there are steps to ensure you’re getting the best bang for your buck. We’ll lay these out clearly so you can start ticking boxes.
• Who’s going to help you through all this? You’re going to need a squad of experts to implement your succession plan. We’ll go over who should be on your team to make the succession or sale as smooth as possible.

This seminar is presented by Jayson Bastien, Financial Advisor at Edward Jones, and Elizabeth Graper, Associate at Miller Canfield LLP.