Business succession can often be a touchy and complicated affair. However, when you take a wholelistic approach to planning for the future, it doesn’t need to be.
Encore Partners LLP, along with Northwestern Mutual and Potente Law, hosted a client seminar during which we addressed some of the common myths associated with succession planning and explored strategies that would help our clients and their companies over the coming years.
We partner with our clients throughout the various stages of starting and running a business; guiding them through the many obstacles that they may face along the way.
Below you will find some of our favorite myths about succession planning:
- When we talk to people about planning for succession here are a few common myths we have heard:
- We have plenty of time ahead of us
- We will deal with it when the time comes
- That will be for the kids to deal with
- This business will be in the family for generations to come
- A buyer will be ready when we are ready to sell
- I will work forever and I don’t plan