Succession Planning - 3 Major Factors
By Simon Rodger
Sadly, we are seeing too many businesses looking to sell but struggling to find an interested buyer at the right price. Unfortunately, the most common mistake in succession planning is the absence of a plan!
If your business is your major source of income and wealth, you must do all you can to protect its current and future value, and CONTROL your succession.
Our succession planning model has 20 fundamental concepts, under 3 major themes:
- You Attitude to Control - understanding what you can and cannot control
- Financial Life Planning - understanding your business value now, what it needs to be to support your retirement, and what needs to be done to bridge the gap
- Exit Options - there are many options - succession does not necessarily mean selling the lot!
We have an enormous range of tools and expertise to help with your succession planning - just ask us.