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Business Succession Plan | Wells Fargo

Whether you pass the business on to a family member, sell to an external buyer, or choose another exit strategy, thoughtful planning is essential to making your transition successful — not only for you and your successor, but also for the long-term health of your company. Even if you’re nowhere near retirement age or have no plans to leave your post, the time to establish a transition plan is now.

Sourced through Scoop.it from: wellsfargoworks.com

Short but powerful read for managers NOT thinking about succession. We hope you agree and decide to call EGS.

Want an exit strategy from your business?

Insights into preparing and implementing an exit strategy to leave your business.

Sourced through Scoop.it from: www.warrenbdc.com

If this Toronto firm was U.S.-based, I’d be guilty of plugging a competitor. No worries. This group gets it and you should read it. Then call EGS for a courtesy confidential consulation.

What to Expect When Transitioning Your Business to a New Owner

An understanding of the transition process will go a long way to making selling your business smooth and amicable. While each business owner chases success in his or her own unique way, there are some things nearly all owners have in common. Hard work, determination, a vision of what could be, and the will to make it happen—these are the stock and trade of anyone who starts a business. There’s also another common factor that binds together all business owners: The need to someday transition your business to its next owner.

Sourced through Scoop.it from: www.eidebailly.com

When Eide Bailly talks, I listen. This respected accounting firm share their insight in an interesting quasi-case study. EGS is ready to apply this insight to your specific goals. Use our new Contact page to get started.

 

Exit Planning & Transition Insights

We’re Boston-based exit consultants. Here’s some quick insight for those owners thinking about an exit plan. Your actual best insight may vary, so hook up with a vetted consultant to get it right.

Sourced through Scoop.it from: hosted-p0.vresp.com

EGS is ready to help you craft your own best insights. First consultation is free.

Selling Your Business Internally: Ensure Your Legacy Continues

Many business owners would prefer to see their business go to someone they know, such as key employees, partners, or family members in order to ensure that their legacy continues.

There are many benefits of selling your business internally that should not be overlooked:

  • Insiders already know the business, which means less disruption and a smoother transition.
  • Owners can negotiate a level of involvement that fits with their own personal goals.
  • Internal sales may be structured in a more tax-efficient manner that mini­mizes owner risk and keeps more of the proceeds in the seller’s pocket.
  • Loyal partners, employees, or family members are more likely to carry on the seller’s legacy than outside buyers would.

Sourced through Scoop.it from: www.businesstransitionacademy.com

BTA’s article offers solid advice, invites you to a free seminar and offers a downloadable white paper.