Everyone will exit a business at some point. The exit may be planned for, or it may be unexpected.
Business owners, entrepreneurs and organizational leaders are invited to an educational discussion on the topic of Succession Planning for Every Stage of Your Business Life Cycle. The discussion will be facilitated by Karl Schlabach, Certified Exit Planner, Hummel Group.
Consider these tough questions:
- Have you determined your exit strategy? Will you transfer ownership to a successor? Close your business and walk away? Sell it?
- If something were to happen to you, or one of your business partners tomorrow, is there a plan for how business operations would be handled?
- Things have likely changed over the lifecycle of your business. When was the last time you updated your business plan?
These are tough questions especially for entrepreneurs, solopreneurs and family-owned businesses that rely heavily on you, the business owner.
Succession planning gives you choices that you may not have realized were options for you. It is your safety net to ensure that business operations can remain smooth when there is a transition in leadership. A more comprehensive approach is called Exit Planning. Through the process of Exit Planning, owners can build more valuable companies, have stronger personal financial plans, and align their personal goals.
Mind Your Business Lunch and Learn Series, sponsored by Farmer's National Bank, will be held at The Pines Golf Club and Event Center, Tuesday, June 28. Lunch buffet will be available starting at 11:30am. Program will begin promptly at noon and conclude by 1pm