Succession Planning Mistake Number 9- Do not identify changes in the organizational chart and do not identify what part of the Owner/President's duties and responsibilities need to be reassigned due to the Owner/President being partially disabled or elects to work on a part-time semi-retirement bases in lieu of selling the company.
Has the Owner/President identified certain duties and responsibilities that key persons would take on in the event the Owner/President works on a part-time basis due to partial disability or the reduction of hours being worked in the business as a result of semi-retirement?
Has the Owner/President decided to work on a part-time semi-retirement basis instead of selling the company?
Click on the video from the February 2nd, 2017, Succession Planning Workshop attached to find out how to protect your business in the event of the Owner's disability or death. Find out how the Owner/President may plan to transfer duties and responsibilities to key persons so that the Owner/President can work on a part-time semi-retirement basis and not need to sell the company.
To find out more about all of the top 10 succession planning mistakes made by business owners, go to Heschlaw.com. You can watch a video of Bill discussing the ten mistakes and get a copy of his Workshop outline and tools to review in the comfort of your home or office.
Succession planning is complicated. Are you getting all of your succession planning questions answered by your CPA, attorney, and financial planner? As an attorney, CPA and financial planner all in one, Bill Hesch is uniquely qualified to give you a second opinion.
Call Bill now at 513-509-7829 for a free consultation by phone or in person. Piece of mine is only a phone call away.
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