Succession Planning Starts on Day One

Event description

Most owners treat succession as a late-stage event. It is really a design decision, and it starts at the beginning.

Catherine Wygant Fossett, Executive Director of the Institute for Family-Owned Business, and Randall J. Richard, President of Richard Brothers Financial Advisors, cover why event-based succession planning so often fails, and how small businesses make themselves non-transferable without ever deciding to. When the owner knows the customers, prices the work and carries the process in their head, what is left to hand over is a job rather than a business.

They then lay out the simple steps that build transferability in early, while you still have time to use them, and take your questions on the challenges particular to family-owned businesses.