When should I start thinking about a Succession Plan for my business?
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Josh & Jay welcome Will Steih, Managing Director or Prime Capital Investment Advisor’s Tennessee office, to the studio for Chapter 1 of 5 in our Business Owner Strategies & Solutions (B.O.S.S.) Series, a discussion about Succession Planning. What does a properly structured Succession Plan look like? How does a business owner insure that the business will survive after they retire, either through a generational or key person transfer or an outright sale? Listen in to hear important concepts & solutions to consider!
- The best time to consider a Succession Plan is NOW. Life happens fast.
- An unwritten Succession Plan is just a promise.
- Succession Plans need to be written and funded.
- A well designed Succession Plan is a key element of having a multi-generational business.
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