Every good business owner has an operational plan – but only 17% create a fully articulated transition strategy. In Your Next Adventure, we show you how to craft a robust transition strategy that considers your business, personal, familial, and community needs. From pre-sale to post-sale, Rowe, Fitts, and Weeks we will help you plan ahead, assemble the right professional advisors, and incorporate your values, legacy, and loved ones into every choice you make.
Over my career, I’ve found successful entrepreneurs lost after the sale of their business. This book will help them learn how to make a solid plan for not only themselves but the people closest to them as well.
Elaine Glass
Business Consultant and Life Coach
This book explains in business owner's language how to prepare yourself and your family--financially and emotionally--for the changes that inevitably result with an ownership transition. Avoid the landmines, sidestep the pitfalls, and get prepared for the most important decisions of your life. Go knowingly, choose wisely, have fun, and don't look back. No regrets. Onward!
Steve Cohen
Chair, Mergers and Acquisitions, Devine Millimet Law Firm
When you prepare to sell your business, you want advisors who will address issues including management succession, potential acquirers, tax issues, the best deal structure, the best negotiation approach, how to reward your employees, and the time frame to complete the transaction.
The relationship between you and your spouse is important, and both voices need to be involved in planning for you and your family. An impending transition will invite various spousal responses, and it benefits you to anticipate what those responses might be and to plan your reaction accordingly.
Financial security means different things in your pretransition world than in your post-transaction world. Pretransition, financial security refers to your confidence that the business will continue generating the cash necessary to support the lifestyle your family has come to appreciate. Your family’s financial security is embedded in the business.
No matter what financial circumstances you find yourself in, every business owner should have an inheritance plan in place.
