03 May The Eagle Institute: Preparing the Business for Succession

05.03.2022

Welcome to Eagle & Fein, P.C. 

It was great to have everyone today for the Eagle Institute: Business Succession Planning session 1. We were able to welcome attendees back into the office as well as host attendees via Zoom. We hope everyone left with some new tools to add to their toolbox ! We will see everyone again in July for session 2.

From attendee, Anastacia L. Young, CFP, CEPA:

What a way to start the day!

I spent this morning with some great Indiana-based transition advisors talking about succession planning for business owners.

Brian Eagle summed up the need for planning perfectly with this Benjamin Franklin quote – “By failing to prepare, you are preparing to fail.”

Approximately 2.5 million baby boomer business owners will be looking to transfer ownership of their business in the next 10 years (source: The ESOP Association). According to the Exit Planning Institute, 50% of exits will NOT be on the owner’s terms.

Succession planning is one of those topics that often gets pushed to the side for seemingly more pressing matters, but succession planning is just good business planning.

If you fail to prepare, you may very well be preparing to fail.

If you or your clients are not sure where to start, let me know and I can help get the conversation started.

A big thanks to Brian Eagle and Eagle & Fein, P.C. for hosting and providing great information!”