Succession Planning – “If I only started earlier…”
A presentation today by Bill Lowman on What CEOs Need to Know About M&A and the Exit Planning Process confirmed a theme common to our recent workshop series on succession planning. Simply put, to maximize enterprise value at exit, business owners must start the succession planning process 3 to 7 years prior to an anticipated exit. For further context on succession planning best practices, I encourage our members to access the CEO Nexus media archive and view the audio/PPT presentations provided by Ryan Tansom on Understanding the Exit Framework (10.16.19), Jon Molayem on Understanding an LOI (10.30.19), Russell Slappey on Value Drivers That Maximize Enterprise Value (11.01.19), and Bill Lowman on What CEOs Need to Know About M&A (11.12.19).