Permanent Equity’s Post

The next article in my Succession Planning Simplified series highlights the importance of a well planed governance structure to provide clarity, objectivity, and a roadmap for navigating the complex interaction between family and business interests.  

To the average person, the term “business succession planning” has little meaning – and probably less interest. To the people who run a business, however, it is a matter of critical importance. Or should be. (From The Daily Record)

One of the biggest reasons for inadequate succession planning is the lack of communication between generations. #successionplanning #familybusiness #whitewaterconsulting https://ow.ly/aaqj50RcwX1

Family businesses can be both rewarding and challenging, especially when succession planning is left unresolved. Discover how personal and professional lives can collide, causing tension and uncertainty. Read our latest blog post to learn practical steps for avoiding conflict and ensuring a smooth transition for future generations. https://lnkd.in/eV_X2AEj #SuccessionPlanning #FamilyBusiness #BusinessGrowth

Minnesota is facing a threat to the economic and social life of rural areas. According to data from the U.S. Census, 53% of Minnesota business owners are over age 55. The state boasts over 525,000 businesses, but due to this “silver tsunami” that has already started, over 52,000 businesses are expected to change hands or dissolve in the next five to ten years as their Baby Boomer owners retire.

Discover the essential role of family members in business succession planning. Uncover insights on ensuring a seamless transition between generations in family businesses. Dive deeper into the topic by reading our latest blog post. ➡️ Learn more: https://lnkd.in/eu75N_cM Read the blog 👆👆👆 #FamilyBusiness #SuccessionPlanning

Effective succession planning requires that those most affected by the transition be on board. So what does it take to get buy-in on your succession plan? https://okt.to/fiFgCB

Succession planning. It's something that every business owner and executive should do, but, between the time obligations for growing and operating the business, it's an easy task to put off until "later." What happens when "later" becomes several years down the road and the horizon is suddenly right in front of you? Daniel Collins from Harter Secrest & Emery LLP recently spoke with the Rochester Business Journal about the importance for starting the succession planning process early in order to bring the best possible outcomes into view. https://lnkd.in/eBqbA_zn

Effective succession planning requires that those most affected by the transition be on board. So what does it take to get buy-in on your succession plan? https://okt.to/2JHRIt

The Definitive Guide to Succession Planning for your Company and Protecting your legacy! Also, download the free Checklist to use to implement your succession plans. https://lnkd.in/eAiqp_a #successionplanning