Transitioning the Family Business – A Guide for Parents
If your goal is transitioning ownership of your business to a son, daughter or even a trusted employee while retiring with an income; then you should read this report now, while you have time to do something about it. That it, if you want to transition while keeping the business, the family and our own self-worth intact. Tom Crouser has been helping business families transition for nearly thirty years now, and in this one report he gives us an outline of the process as well as shares some of the things that he has seen which can go wrong. Click on title to learn more/order.
Outline of Transitioning Paper
- Defining the Goal
- What’s a Transition?
- Why Sell or Transition at all?
- You’ll Need Income and an After-Business Plan – will you have enough cash; do you have a plan for what you’re going to do with yourself?
- Selecting the Successor and Fairness
- Adverse Consequences of Fairness
- Remembering the Goal
- Sell the Business to the Next Generation
- Don’t create a Cat Fight
- Groundwork you need to lay
- When to start the Transition
- Have something to Transition
- Decide to Decide: Selecting Successors – Early selection; Late selection; No selection; Consensus selection; or the Only Selection
- Understand Training Tracks: High School Track; Daughter-in-Law or Son-in-Law Track; and the Executive Track
- Outline of the Executive Training Track: Outside Experience; Formal Training; and Inside Experience
- A Personal Rationale for the Founder and Successor
And “Tales from the Trail,” or stories about “What Could Go Wrong?” based on what I’ve seen.
This product is a PDF report which is delivered to you immediately (see receipt for download link), 21 pages.
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