Succession planning for small businesses.

1. Bob Ward
www.perpetualbusiness.co
Succession by Design

2. How will you leave
your business?

3. Succession Reality
Twenty years ago, only 30% of small businesses
continued after the departure of the current owner
Today, the survival rate is just 15%
Why?

4. Succession Obstacles
NO PLAN
Procrastination
Unrealistic expectations
There’s nothing to sell
Progress stagnation
And, the singular reason why 85 of 100 businesses
will not continue beyond their current owner ---
THERE IS NO PLAN

5. Every Business Will Be Sold
Unplanned
Planned
Which is your plan?
Do you have a plan?

6. Protect Families
Retain key talent
Command a premium valuation
Pride in a legacy well designed
Ready for expansion, acquisition, or sale
Reasons to do it now

7. Step One – Survive Tragedy
Requirements for Continuity
Management Authority
Adequate Funding
Staff Retention
Systems and Procedures
Professional Resources

8. Step Two – Succession Plan
Define Your Vision
Effective operations guide
Pristine financial records
Dynamic and evolutionary
Culture of ownership
A Perpetual Business operates
independent of its owner.

9. Your Exit Options
Liquidation
Outside Buyer
Inside Buyer (Employee)
Which have you chosen?
Doing nothing is a choice

10. Succession in Real Life
Steeleville, Illinois
Matt Mevert The Mevert Team

11. The Essential Conversation
“I’m always working on the future of the
company and you’re an important part of my
planning.
“I’d like to know, what’s most important to you,
your family, and where you want to go in your
career?”
*The only follow up question, if not already stated –
“How do you feel about becoming an owner?”

12. Compelling Inspiration
“The growth and
development of people is
the highest calling of
leadership.”
“It is only as we develop
others that we
permanently succeed.” Harvey Firestone

13. Homework Assignments
Define your Vision
Ensure Survival if Tragedy Strikes
Develop your People
Eliminate Owner Dependency
Complete Essential Conversations

14. How will you leave
your business?

15. A Perpetual Business
Your Ultimate Legacy

16. Tools : Resources : Expertise
perpetualbusiness.co
bob@wardden.com
(206) 304-7723
There’s always a place to start!