Relocation due to a burst water pipe at our regular venue. We plan to resume meeting at Smoke Rise Country Club as normal for our February Meeting.
GOOD SUCCESSION PLANNING CAN BENEFIT YOUR BUSINESS…
How will your plan of succession benefit your business?
David Magee leads the discussion and shares tips.
Succession planning is the process of identifying significant positions in your business or organization and creating a talent pipeline, by preparing employees to fill vacancies in the business as you or others retire or move on. This also includes identifying and analyzing potential business challenges over the next 1-5 years and making sure your successors know how to handle them.
Exiting from a small business is typically the owner’s biggest financial transaction in his/her life, sometimes impacting generations to come.
Have you built a plan of succession? Does your current succession plan outline challenges that may come in the future and solutions to these challenges? What can make your succession plan as seamless as possible?
Whether you may want to sell or pass your company to a family member. Understanding what your business might be worth, how much you will need in after-tax proceeds, who the logical buyers might be, and possibly having a knowledgeable outsider to the company may all be factors in your succession plan.
Let’s compare notes… Join us on Tuesday, January 31, 2023 at Matthew’s Cafeteria, to be a part of this great discussion.
This meeting will be moderated by Art Wood.