Business owners frequently find themselves dealing with the hectic daily or short-term needs of the company. All too often this can become the focus. As owners you need to “step back” for a high altitude view of the business, take control, and set the direction that will not only protect your company’s value but also maximize it.
8:30 – 9:30 a.m. – Financial Planning/Succession Planning for Business Owners
Presenter: D. Christopher Benfer, CFP, AIF, ChFC, Senior Partner, Legacy Planning Partners
- Legacy Planning – what does it mean to the business owner
- Transitioning your business – The macro picture and demographic challenge
- Tension between personal planning and business succession planning
- How do you define success?
9:45 – 11 a.m. – The meaning of succession planning to you and your family.
Presenter: Frank Michel, CEPA (Certified Exit Planning Advisor), Brandywine Mergers & Acquisitions, LLC
- The following topics will be reviewed:
- What do you, as an owner, mean to your company’s value
- Not all business values are created equal
- Want to increase your business’ value? Don’t do this…
- How to align your goals with your resources and options
- Playing defense to protect the value you already have
- What three phases need to line up to maximize value
- Don’t go it alone, build a team
- How will demographics affect your business’ value
- You can’t plan if you don’t know where you are starting from
- Separate valuation myth from fact – forget “rules of thumb”
- One expense that is really worth it
11 – 11:45 a.m. Panel discussion with Frank, Dave, Chris, Chuck and Rick summarizing the value of developing a successful transition of your business to the new leadership of your choosing with a question and answer period that will provide you with valuable feedback.
11:45 a.m. – 12:30 p.m. Lunch