Succession Plan
Succession Plan
Dream it.
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
Build it.
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
Grow it.
It all begins with an idea. Maybe you want to launch a business. Maybe you want to turn a hobby into something more. Or maybe you have a creative project to share with the world. Whatever it is, the way you tell your story online can make all the difference.
A SOLID SUCCESSION PLAN IS A CRITICAL COMPONENT OF ANY LAW FIRM’S STRATEGIC PLANNING PROCESS.
Our 3-session series, presented through our Business for Breakfast seminars hosted by the NKY Bar Association, provides information about defining & properly valuing your firm, choosing the best succession strategy, and implementing that strategy successfully.
SUCCESSION PLANNING #1:
PREPARING YOUR FIRM
FOR SALE OR TRANSITION
Succession, transition, and retirement are facts of life and some of the biggest challenges facing attorneys and law firms of all sizes.
We will discuss the initial steps for defining the firm, identifying the key players, and determining what the firm may be worth.
SUCCESSION PLANNING #2:
OPTIONS FOR HOW TO SELL A FIRM & FUND A PURCHASE
Roughly 35% of law firms have a documented Succession Plan, leaving upwards of 65% unprepared for owner retirement or transition.
We will examine basic succession strategies, dealing with death and disability, and some of the possible funding options for a buy-out.
SUCCESSION PLANNING #3:
HOW TO MAKE IMPLEMENTATION
OF A SALE SUCCESSFUL
A Succession Plan can help ensure adherence to the agreed-upon transition process, resulting in a successfully implemented sale.
We will provide tips for the transfer of day-to-day responsibilities and strategies for ensuring the retention of current clients.