Succession Planning | Transitioning Your Business | OH IN KY

Succession Planning | What You Need to Know to Successfully Transition Your Business

Published on by George Sparks, Kellie Woodruff, in Video, Wealth Management


Can’t watch the video? Get the transcript.

As a business owner, at some point you’re going to monetize your asset – whether you’re transitioning to the next generation of the family or selling to an external buyer, there are many decisions to make along the way. In this video, Barnes Dennig Wealth Management pros unpack timelines, key decisions, and what advisors you’re likely to need to maximize the value of your company and ensure its ongoing success.

When is the right time to transition your business to that next generation or next owner?

There is no magic answer to that. It starts years before you’re willing to do it, understanding that you have a retirement goal and plan. You’ve got to ask, “What does this look like? When am I going to be ready to step away?” From there, it’s working backward, evaluating all those around you and asking, “Who am I going to sell to? Is it internal? Do I have the right people?”

And beyond the transition, there are other decisions, like managing your assets. Understanding your wealth advisor’s obligations and ensuring they’re doing what’s truly best for you. And knowing how all the pieces of your financial puzzle fit together to ensure you’re living the life you imagined while ensuring your company goes on in the best possible way.

Thinking about succession planning and how you’d like your company to go on? Contact us for a conversation with our top succession planning pros. We’re here to help.

Disclaimer: Barnes Dennig & Co. offers succession planning services as part of its normal course of business. Retirement, estate, and gift planning services are offered by Barnes Dennig Private Wealth.


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