Business Transition and Succession Planning
This webinar is designed to help business owners achieve more successful transitions, such as changes in ownership and management. According to the Small Business Administration, over the next five years, more than 40 percent of privately-owned companies will transition, with poor planning as the main reason for doing so.
Succession planning is an unfamiliar challenge for most business owners, especially when family is involved. Having a plan in place can be extraordinarily valuable in relieving the uncertainties caused by not knowing how to proceed, or the impact succession can have on employees, family relationships and even your own financial security. Webinar participants will learn valuable information to help business owners identify actions to begin minimizing their risks, increasing value and improving the outcome of their transition. You will learn what transition readiness is, why it matters and how to improve your personal and business outcomes.
Participants will be guided through several questions:
• What are your possible exit strategies and how will you get there?
• Why is succession planning a process, not an event?
• What are the major factors and long-term objectives that you, as a business owner, need to consider when transitioning your business?
• How do I ensure a business transition will provide you with an income stream during retirement?
• What is your business’s worth and why is an independent, objective valuation of your business important?
• Congratulations! You have successfully transitioned your business. What do you do now?
Family Business Consultant
Greg Lewis is a family business consultant at The Tennessee Center for Family Business in Nashville, Tennessee. Lewis’s passion is helping one family at a time deal with the unique challenges of working together in a family business and planning for a successful transition. Lewis has over 25 years of experience working in his own family businesses. His personal experience in building and leading family businesses makes him a valuable resource to family business executives who want to become more effective leaders as they deal with the unique mix of family and non-family team members, values, culture and processes in which their family business operates.
Drawing on his background as an entrepreneur and leadership trainer, Lewis has provided family business executives the opportunity to share their unique challenges in a secure and objective environment, helping them to lead well and maximize their potential. He has helped families create a climate where members of the family can do what they enjoy most and contribute to the success of their company. His clients work in a variety of industries including manufacturing, transportation, supply chain, nonprofit, retail, health care and farming.
Lewis received his bachelor’s degree from the University of Tennessee Knoxville and holds leadership certifications from the Keller Graduate School of Management at Northwestern University and the Center for Association Leadership in Washington, D.C. He is a certified trainer with the Ken Blanchard Companies in Situational Leadership II, the most-taught leadership model in the world.
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