Helping you secure the financial future of your company
Although you can never know if or when the unthinkable is going to happen, you can plan ahead to ensure that the future of your company is not left up to chance. When done correctly, your business succession planning strategies can offer you peace of mind that the succession of your business will be how you envisioned in the face of unexpected life events like illness, disability, death, or divorce.
What is the importance of succession planning in business? Incorporating business succession planning into financial planning for business owners offers anyone with ownership interests, employees, clients, and family members a formal roadmap of how to handle business upon your exit. No matter if your goal is internal succession planning or external succession planning, at Avidian Wealth Solutions, we work with business owners and entrepreneurs to help them answer these five questions:
- What does a successful transition look like for me?
- What is the valuation of your business?
- How have you reduced the risk and increased the value of your business?
- Have you hired key employees and professionals who are a good fit long-term?
- Are your clients connected to the firm rather than to an individual employee?
- What are you doing to effectively scale your business?
- Are you able to demonstrate consistent growth?
If you aren’t sure how to answer the above questions, our financial advisors can help you create a formal succession plan that makes for a smooth and strategic transfer or sale of your business.