Successful business transition
planning or succession and exit planning requires all the
elements of a well run company including a well thought-out strategy and
value
proposition, great leadership, organizational and operational excellence
and a
high performance team all working together to produce sustainable
results. There are also unique elements of business transition planning
including answering key questions such as: who will lead and
/ or take ownership of the company in the future; what changes have to
be made
to make succession or exit a success in order to maximize value and
minimize
risk; what will the ownership structure look like; what is the timeline
for
succession or exit and what are the required economics that support
succession
or exit. Business transition planning is
a process that requires specialized knowledge, experience and skills and
a
process that should start years in advance.
We have helped numerous business owners plan for succession and exit and
prepare their firms in order to maximize their value and reduce risk.