Businesses, like people, have lifecycles. There is a beginning, a middle, and an eventual end. People can eat healthy and exercise to extend their lives. Businesses, on the other hand, deal with many issues like changes in technology, customer needs, and the current leadership’s health that can bring an abrupt end to what owners spend their working-lives building.
Most leaders of closely held businesses either grapple with these issues every day or, worse, ignore them for too long and have no definitive exit plan. This is where formal and timely succession planning, led by the experts of Santora CPA Group, can help.
We understand the business lifecycle and can guide you through the inevitable forks in the road that owners have to face:
- Do I sell my business or is there someone internally that has the skills to take over the reins?
- If there is someone or a group of individuals, when is the right time to approach them?
- How long should the transition last to ensure success?
- How should the transaction be structured?
- When will I be ready to give up the leadership?
The experts at Santora CPA Group will be Right, By Your Side helping to guide you through these questions, as well as all of the other succession planning issues that may arise.
It is never too early to have a succession plan for your business…don’t wait until it’s too late. Call Heath Kahrs, the firm’s Managing Director, at 302-737-6200 or email him at firstname.lastname@example.org and let the planning begin.