Business Succession Optimal Transition Overview

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Five primary concerns of the owner

This is the time to bring unconscious expectations into conscious focus.

Income: What are the business owner’s needs and expectations for future income?

Involvement: What are his/her goals for future involvement in the business? Would the business owner like to remain actively involved, withdraw over a number of years, or walk away tomorrow?

Investment: What are the owner’s goals for future investments? Does the business owner want to cash out immediately, maintain an equity investment in the business, or cash out in stages over a number of years?

Legacy: What are the owner’s goals for a personal legacy? Does he or she want to establish a charitable trust or trusts for family members, children or grandchildren as legacies to his or her accomplishments?

Values: What are the values of the business owner? What is important to the owner apart from his or her personal interests? Does the business owner value the continuation of the business and continued employment for colleagues, family and employees?What about community involvement?

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