Nobody likes to think about it, but even if you are not planning an exit at the moment, having the right succession planning and exit strategy is essential to your business legacy.
The 2015 Family Business Survey revealed a troubling scenario: the majority of Australian family businesses are not adequately prepared for succession, only 12% have a process in place for appointing a new CEO, yet 76% expect to appoint a new CEO in 5 years.
What about your business, is it ‘Exit Ready’?
Why Choose a Professional Succession Plan?
√ Safeguarding the viability of your business when a key person retires or leaves.
√ Ensuring a seamless handover and make sure your family relationships are not disrupted.
√ Providing economic security for the younger generation and financial freedom for the older generation.
However, it is often complicated by the relationships and emotions involved. It’s a complex process that demands working with the stakeholders in your business, from family members and advisers to staff and clients, and requires a specific set of skills ranging from negotiation to conflict management.
It’s not something you can leave to your accountant or lawyer.
At Business By Design we look at your family members’ needs and expectations combined with your key business objectives to develop a succession plan for a seamless handover.
With two decades’ experience advising and coaching businesses, Sean Martyn, Business By Design’s Principal, knows the unique challenges families face with a multi-generational business structure, and has the experience and expertise to help you achieve a smooth transition while maximising the value of your business.
Schedule an obligation-free consultation with Sean to discuss your succession plan.
Call Us on (02) 6658 0775 or email firstname.lastname@example.org