Succession Planning / by

 

Our 4-Step Strategy Framework™

Why This 4-Step Strategy Framework™ For Succession Planning?

This comprehensive approach to succession and transition planning helps family business owners like you  to establish a strong foundation, professionalize your business and optimize value; preparing you to sell, scale or pass on to successors on your terms, on your timeline and indeed transition to your reinvention.

Partnering with the family business owner, 3-5 years before your expected succession, we help established and hyper-growth companies prepare for and achieve your optimum transition strategy. Before any transaction, we help family business owners to develop a coordinated plan for reinvention beyond the business, which engages and pulls them forward and concurrently delivers the financial security and family legacy you dream of.

Framework slide 052516

Plan

Begin with the end in mind. Think through your criteria and goals first for succession planning. Develop a Roadmap for you, the business, your team, your family and your future; and a timeline to achieve your objectives.

Check out how we help you do that here.

Stage

Strategize and systematize your business to accelerate growth, maximize value, and professionalize your business based on best practices.  Take time to do three things:

  1. De-risk the business for a your optimum succession/transition transaction,
  2. Explore your purpose and passion beyond the business, that will engage you after letting go of the control, responsibility and ownership of their business,
  3. Prepare financially to prosper beyond working in the business.

Check out how we can help you do that here.

Drive

You built your business and now you are ready to monetize the value you know is there. This is when your transaction team will present the company to ensure that buyers/acquirers or successors can see its true value, so that you can implement the succession and fulfill your transition. Your succession strategist orchestrates this team to coordinate, collaborate and cooperate in your best interest and complete the transaction and transition.

Achieve

Your succession plan is not complete without and until you have a clear plan for your reinvention beyond the business. By integrating the planning (and testing) of your reinvention (new avocation, vocation, venture, adventure) with building business value and professionalizing the business before any succession is executed, you and your family can be secure knowing your financial future is just as thoroughly prepared and executed as the business succession itself.

teamYou, your company, your team and your family all benefit from your early succession planning.

To explore more succession planning options, and gain leverage and control, contact us before you engage attorneys or intermediaries to sell your business.

© 2009- 2016 This Way Out Group LLC top