What Is A Succession Plan For A Business

What Is A Succession Plan For A Business-24
Succession planning is the process of planning how a business owner will exit or retire from his or her business and how the business will continue to grow and thrive.

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You will have had a systematic process for preparing employees to fill key roles as they become vacant.

Through your succession planning process, you recruit superior employees, develop their knowledge, skills, and abilities, and prepare them for advancement or promotion into ever more challenging roles in your organization.

Many companies have not introduced the concept of succession planning in their organizations.

Others plan informally and verbally for succession for key roles.

Once we have created a succession plan, our legal team works with you and your transition team to improve your valuation and prepare your business for a successful transition to the next owner.

With every succession plan, the transition phase is crucial to ensure that you receive and keep the most value from your business.

Brown & Streza can help you identify the personal and familial goals that will drive the right exit strategy for you and your family.

We work with you, your accountant, business advisor, financial planner, and investment banker to address the current business market and trends, appropriate techniques to add or improve value, and create the legal documents to make your plan a reality.

The more time we have to work with you the more money we can put into your pocket (or value to your heirs) at the completion of your succession plan.

Contact us early and let our Business Attorneys help turn your dream into a plan of action.


Comments What Is A Succession Plan For A Business

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