Wealth Management | Plancorp | Succession Planning

When You Should Develop a Succession Plan for Your Business

Most savvy business owners develop a business plan that includes an exit strategy. However, many companies fail to put a succession plan in place. In fact, only 34% of family-owned businesses have a succession plan , and those are usually very informal — meaning most don't survive for later Read more…

Succession Planning 101: What is It and Why Is It Important?

There comes a time that every business leader must ask themselves a question: "Before leaving my business, how do I go about planning for a successor?" With factors such as generational wealth, future goals, and executive strategies all tied up in your leadership role, you need to know how to Read more…

How to Build an Effective Exit Strategy for Your Business

While you might not equate your business exit strategy with a family vacation, it actually helps to think of it like one (metaphorically speaking, of course). You probably wouldn't wait until a couple of weeks before your departure to start planning the trip. You wouldn't hold off until a few days Read more…

The Information You Need For Every Type of Business to develop a successful Succession Plan

As a business owner, you may have spent years growing, cultivating and shaping your company to match your strategic vision. It’s your baby, your lifeblood. While moving on or selling it might not be on your mind currently, but considering an exit strategy and succession plan now will help you to be Read more…

Plancorp's CEO on Employee Development & Succession Planning

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Your Will: Will It or Won't It?

It is commonly thought that the transfer of wealth upon someone’s death is largely, or even exclusively, dictated by that person’s document known as a Last Will & Testament, or simply, Will. In fact, the term “Will” is often used synonymously with one’s estate plan. Because of this, people too Read more…

Transitioning Your Business? Consider These Questions First

Like most major life decisions, the choice to exit your business should not be made alone. Read more…

6 Signs It’s Time to Sell Your Business

There’s no right or wrong reason to sell your business; when you’re ready, you’re ready. Read more…

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