“Exiting” is not black and white: Stay involved in the business and have a liquidity event to develop the cash you need.
Transition Planning guides you to orchestrate a successful, permanent exit or to forge a path toward an exit without giving up ownership. Or both.
Tag Archives: Exit planning
3 Universal Requirements for a Successful Family-Business Transfer
When we advisors think of family-business transfers, we tend to focus on family-specific challenges. Of course, some challenges are common to all successful owner exits. In this article we briefly look at three of these universal challenges, but from a family-business transfer perspective: 1) a capable successor, 2) a prepared business and 3) a ready owner.
Read MoreUnintended Consequences… Without Your Transition Planning
Stephen Manicek sat quietly and stared out the window of his car as it sat parked in the parking lot of Manicek Microtek. Until a few minutes ago, he had been president of Manicek Microtek, one of the country’s largest telecommunications parts distributors. Now he was out of a job and felt he was a victim. Naturally, his first thought was to sue those responsible for his misfortune. The targets of his wrath were his younger sister and his mother. They had forced him out of the business. What should he do next? What could he do next?
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