What is Business Succession?
A large number of business owners don’t take their business succession into consideration when dedicating all their time and effort into ensuring their company is successful.
Starting a new business is a stressful experience and many owners put their lives on hold, make family a second priority and work hard at ensuring their business becomes a success.
The business then pays the owner a generous income, but when it comes time to step down, the owner is so invested in their business that there is no escape. The owner basically becomes a prisoner in their own business. Not the situation you want to find yourself in.
Business succession can be planned from the start of a business, a chance for the business owner to employ a staff member they can mould, train and eventually allow to take over the day to day running of the business.
Not all business owners think ahead to their retirement, they’re so busy running their business on a daily basis and before they realise it, they are tired and unable to get out and reap the rewards of their years of hard work.
Considerations
For any owner handing over their business to someone else is a huge step. They have invested so much time, money and energy into making their business a success that handing is over is giving away their most important asset.
Another thing that business owners struggle with when it comes to business succession is the peace of mind that they will be able to live on the profits they make from the business when they are not there every day.
Meet the Exit Man
The Exit Man is dedicated to helping business owners with their business succession planning, helping them exit their business with the most amount of profit in the shortest period of time.
Peter Vale has run many successful businesses throughout Australia, New Zealand and the United Kingdom. During this time he found many business owners struggling with health and financial issues because they didn’t have business succession plans in place.
These owners were trapped in their businesses with no escape. Peter then opened http://exitman.co.nz to help these owners get the best rewards for their investment without the added stress.
Today Peter helps businesses through his practical approach to exit management. As a business exit management specialist, Peter is able to ensure the owners get the most amount of profit in a fast turnaround time, so they can retire with the peace of mind they need to know their expenses are taken care of.
For a business owner who has dedicated years of their life to their company, being able to leave with something to show for it is essential. The business should offer them a decent retirement fund. If for any reason the owner is unable to continue working due to accident or health, they should have the plans in place that the business can run without them and still pay them an income to cover their expenses.
A large number of business owners don’t take their business succession into consideration when dedicating all their time and effort into ensuring their company is successful.
Starting a new business is a stressful experience and many owners put their lives on hold, make family a second priority and work hard at ensuring their business becomes a success.
The business then pays the owner a generous income, but when it comes time to step down, the owner is so invested in their business that there is no escape. The owner basically becomes a prisoner in their own business. Not the situation you want to find yourself in.
Business succession can be planned from the start of a business, a chance for the business owner to employ a staff member they can mould, train and eventually allow to take over the day to day running of the business.
Not all business owners think ahead to their retirement, they’re so busy running their business on a daily basis and before they realise it, they are tired and unable to get out and reap the rewards of their years of hard work.
Considerations
For any owner handing over their business to someone else is a huge step. They have invested so much time, money and energy into making their business a success that handing is over is giving away their most important asset.
Another thing that business owners struggle with when it comes to business succession is the peace of mind that they will be able to live on the profits they make from the business when they are not there every day.
Meet the Exit Man
The Exit Man is dedicated to helping business owners with their business succession planning, helping them exit their business with the most amount of profit in the shortest period of time.
Peter Vale has run many successful businesses throughout Australia, New Zealand and the United Kingdom. During this time he found many business owners struggling with health and financial issues because they didn’t have business succession plans in place.
These owners were trapped in their businesses with no escape. Peter then opened http://exitman.co.nz to help these owners get the best rewards for their investment without the added stress.
Today Peter helps businesses through his practical approach to exit management. As a business exit management specialist, Peter is able to ensure the owners get the most amount of profit in a fast turnaround time, so they can retire with the peace of mind they need to know their expenses are taken care of.
For a business owner who has dedicated years of their life to their company, being able to leave with something to show for it is essential. The business should offer them a decent retirement fund. If for any reason the owner is unable to continue working due to accident or health, they should have the plans in place that the business can run without them and still pay them an income to cover their expenses.