Create A Thorough And Tailored Succession Plan
There are many reasons you may leave your business. Whether you retire or pass away unexpectedly, you want to leave your company in good hands. It’s hard to know what the future holds, but with a strong succession plan in place, you can make leadership transitions with peace of mind and little disruption. That way, your business can continue growing after you leave.
At The Sterling Law Group, A P.C., we can help you formulate a succession plan that meets your needs and interests. We’ve been serving business owners creating succession plans for years and understand the complicated and nuanced legal environment they operate in, especially in a state like California.
What To Consider When Creating A Succession Plan
No business is ever the same, and your industry can dictate how you create your succession plan. For example, law firms and doctor’s offices can only be owned and operated by licensed people. Here are a few other questions to consider when formulating your succession plan:
- What goals do you wish to achieve?
- What share of your business are you giving to someone else?
- Who will lead your company when you leave?
- Will other employees leave when leadership changes?
- If employees leave, how can you protect business trade secrets?
- When do you want to complete the transition?
These questions can help you think about what you wish to achieve and how you want to achieve it with your succession plan. Once we understand your goals, concerns and needs, our lawyers can help you formulate a tailored and efficient succession strategy that accounts for the health and longevity of your business.
We can help you begin the process. Fill out our website contact form to get in touch. We look forward to speaking with you.
Begin Your Transition Sooner Rather Than Later – Contact Us.
Making the right decisions for your business, especially regarding leadership changes, can take time and effort. Let us guide you through the process and help you navigate the difficulties of the transition with confidence. Call our office today at 916-727-6904 to set up a free consultation.