Succession Planning

Create the blueprint you need for a successful transition; whether for an outright sale, or a transition to family or key employees.

For many business owners, succession is a once-in-a-lifetime event. It is full of emotional and relationship issues, not only for the owner, but for family, employees, customers, and suppliers. It is frequently the last and often most-remembered relationship activity they will have with the business. Despite its importance, succession is almost always started too late, under-planned, and poorly executed.

DVIRC’s approach to Succession Planning begins with understanding and articulating the owner’s expectations. Plans for the future must be addressed, including the owner’s vision for the future, the role he or she will play, if any, in the future of the business, expectations of a revenue stream from the business, and the timeline for the exit.

Succession Planning Process

We will work with you and your team to determine the challenges that stand in your way, and help you craft a plan that will take you from where you are now to where you want to be. Together, we will:

Execution Plan for Successful Transition

Define Goals

Articulate the owner’s vision and expectations.

SWOT Analysis

Understand the strengths, weaknesses, opportunities and threats of the business.

Develop a Plan

Performing a skills gap analysis, risk assessment, and development plan for future leaders.

Strategic Business Assessment

A Strategic Business Assessment that identifies what key initiatives will provide a higher valuation or strengthen the business in the future.

Execution Plan for Successful Transition

Identify succession options, pinpoint the best one, and craft an execution plan for successful transition.

Succession Planning Benefits

Having an outside advisor guide you through this process will give you the peace of mind to know that you’re doing the best thing for the business…and for yourself. We’ll serve as your counsel and advocate through the entire process to make sure you realize your goals. Typical benefits of Succession Planning include:

Protects and positions your company for the future

Ensures and positions the next generation of leadership

Helps the current owner optimize his/her transition objectives

Learn How to Prepare for Succession

Succession Planning: 25 Things that Could Go Wrong

Transitioning your business is one of the most important decisions you will ever make. Yet despite its importance, succession is almost always started too late, under-planned, and poorly executed. Download DVIRC’s e-book, Succession Planning: 25 Things that Could Go Wrong, for tips on things to avoid when preparing for your exit.

Download the eBook