Succession Planning

Helping owners maximize the value of their business and prepare for the future

Many business owners – including owners of a family business – are often underprepared to exit their business and move on to the next chapter of life. It’s common to have unrealistic expectations of the worth of a business. In unfortunate situations, owners start the exit or succession planning process too late to maximize benefits they could have received using a timely, well-crafted strategy and plan.

Exit and succession planning looks different for all business owners. Knowing your options early helps you plan and make the best decisions for your business situation. Transitioning a business to new ownership requires a plan for maximizing the value of the business and minimizing adverse tax consequences. In addition, a sound exit or succession plan includes activities to develop new managers and prepare you for post-sale life, whether that path leads to retirement or a new business venture.



“I am always pleased with the level of service we are provided and continue to get updates throughout the year with changes that could affect us.”

Sarah Schwieterman – The Sarah Schwieterman Agency, Inc., Syracuse, KS


The Difference Between Exit and Succession Planning

Exit Planning

  • Owner-centric
  • Part of a strategy for either selling or transferring a business, but based on the owner’s goals
  • Comprehensive analysis of the value of the business, market position and more
  • Addresses issues like whether an owner can leave the business when they want, to whom they want, and for the money they want and need
Succession Planning

  • Business-centric
  • Based on the objective of business continuity
  • Identifies successors with a business
  • Includes skills development for successors
  • Focuses on the transition of leadership or management

Succession Planning Solutions

Business owners can often use some additional assistance when it comes to exit and succession planning. Solution examples include:

  • Business and strategic planning, including transfer options and strategies
  • Business valuations
  • Buy-sell agreements
  • Consulting and counseling on “next chapter of life” strategies, objectives and goals
  • Estate and tax planning
  • Financing arrangements
  • Finding sources of capital necessary for a successful business transfer, including M&A advisory and investment banking assistance
  • Negotiation assistance
  • Value enhancement analysis for capturing maximum enterprise