Blog Archives - Page 8 of 9 - The Transition Strategists

An offer to buy your company: Is it an offer you can refuse?

Family Business Transition to the Second Generation

Do you own a business that you’d like your children to run one day but just haven’t put a transition plan in writing? If so, you are not alone. According to a recent survey of 230 family business leaders in Mexico, Canada, and the U.S., you are in the 66% of owners who have not yet created the type of plan necessary to orchestrate a family business transition to the second generation. Business Continuity vs. Succession Plans Many owners tell us that they have business continuity plans in place to

Elizabeth Ledoux January 3, 2022

4 Ways To Prepare Your Child To Become Your Successor

Take Charge of Succession Planning

When working every day to run and build your business, it can be difficult to imagine your business without you and you without your business. Yet at some point, owners do begin to think about whether and how their businesses will continue after they leave and move on to their Next Adventures™. We know that the process of business succession planning raises a ton of questions in owners’ minds, so our job as transition strategists is to help owners take charge of business succession planning and put them on track

Elizabeth Ledoux December 14, 2021

What Is Succession Planning?

We’ve written numerous articles for this site and other publications that attempt to answer the question “What is succession planning?” You’ll find the most complete answer, as well as our unique approach to succession planning in our book, It’s A Journey: The MUST-HAVE Roadmap to Successful Succession Planning. Optimists by nature, we typically tout the many, many benefits of succession planning (a process called “business transition planning”). Today, we make an exception and look at just one aspect of the flip side: the huge financial and relationship price that family

Elizabeth Ledoux November 13, 2021

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Private Business Succession Planning

Are you starting to think about retirement but don’t know how to transition your business to a new owner? Don’t let the HBO series Succession scare you: Finding a successor for your private business doesn’t have to be so complicated. At The Transition Strategists, we have been helping business owners successfully pass their private businesses to successors for more than 20 years. We help many owners with business succession planning. Keep reading about private business succession planning to learn more. Starting your Private Business Succession Journey One of the most

Elizabeth Ledoux November 10, 2021

Succession Planning Strategy - The Transition Strategists

Family Business Succession Planning

Are you preparing for the future of your family business? Whether you’re just starting your business or nearing the end of your career, it’s always a good idea to think ahead. Family business succession planning doesn’t have to be overwhelming or intimidating. Trust The Transition Strategists to help take the mystery and strain out of transferring the ownership of your business. Keep reading to learn more. Beginning Family Business Succession Planning You might be surprised to learn that our first principle of successful business transition planning is not as much

Elizabeth Ledoux September 10, 2021

Ownership Strategy - Transition Strategy - Business Succession Planning

What is Business Succession Planning?

Maybe an online search has brought you here. Maybe you heard the term business succession planning from a family member, friend, colleague, or at a conference. We’re glad you found us! At The Transition Strategists, we’ve been crafting business transitions for over 20 years, and we’re proud of our 100% success rate. That’s right, 100% of our clients who have used our proprietary transition planning process have left their businesses in the hands of capable successors. How? Let us break it down for you. What is Business Succession Planning? Business

Elizabeth Ledoux August 10, 2021

How the power of inclusive thinking works in succession planning

Should You Take Over Your Family Business?

If you’ve been working for your family business, you understand that family and business are often inseparable. That’s why it can be so important to the owner, (your parent, grandparent, aunt, or uncle) that the business stays in the family for future generations. If presented with the opportunity, should you take over your family business? Do you want to? Should You Take Over Your Family Business? The short answer is: it depends. The long answer, however, begins with your relationships. If you’ve been asked to run your family business, pause

Elizabeth Ledoux July 21, 2021

What Are The Steps In Business Succession Planning?

Are you a business owner nearing the end of your career? Even if you’re not quite ready to retire but are thinking about what’s next, you might wonder what are the steps in business succession planning? We’re so glad you asked. The Transition Strategists help owners and their businesses through key transitions, especially succession. It’s okay if you aren’t familiar with the steps in a business transition. We are. Understanding the Steps in Business Succession Planning In our practice, business succession planning begins with identifying the personal and professional relationships

Elizabeth Ledoux June 21, 2021

Four Reasons It’s Never Too Early To Start Business Succession Planning

Have you created an estate plan even though you have no intention of leaving this earth anytime soon? Making the appointment with your attorney probably wasn’t high on your list of “fun things to do,” but you did it — partially for tax reasons, perhaps, but ultimately out of love for the people and causes you care about. You now enjoy the comfort that comes from knowing that those you love will be taken care of. Read the rest of our article about the four reasons it’s never too early

Elizabeth Ledoux May 17, 2021