“Always start with the end in mind” – Stephen Covey, author of the Seven Habits of Highly Effective People
Often when we start a business we don’t necessarily think about ending the business or our involvement in. Yet this is exactly the first step in making sure that you are always focused on building something of value to support your long-term goals.
When it comes to succession planning it’s important to consider a number of areas including:
- What are your objectives?
- What are your succession options?
- What are the risks associated with passing on your business to someone else?
- What will you do after a successful transition of your business?
- How much is your business worth and how much do you want it to be worth?
- What improvements to the value of your business can you make before succession?
- The tax implications of your succession plans?
Of course there are many other things to be considered in planning the longer term future of your business. This is where we come in.
At JSP Partners, we understand that you want to build something of value. It’s our fundamental philosophy to help you optimise your prosperity which is why we offer a practical and strategic approach to the next phase of business life.
Whether you are starting, growing, or looking to move on from your business, it’s never too late to put a plan in place to realise the maximum value for the asset you’ve worked so hard to create.
Speak to us today about how we can help you achieve a smooth transition when the time is right.