The Succession & Exit Planning Workshop

The workshop will take place over (3) Wednesdays in November, with each day having a different theme of Discover, Prepare, and Decide. Each session will be 1 hour to 1-1/2 hours with breaks in between.

Wednesday, November 2, 2022 – 9:00 AM to 1:00 PM

DISCOVERY

Session 1: What is Your Why? Succession & Exit Planning as a Business Strategy

Succession and Exit Planning is simply good business strategy, and it takes a team of advisors to turn your vision into reality. Over 75% of business owners profoundly regret selling their businesses within one year. That doesn’t have to be you. What is your destiny and passion outside of the company? Your business may be attractive, but is it ready to transition without you at the helm? You may be ready to retire, but does that mean you are prepared? In this session, we look at your personal, business, and financial readiness and the questions you should be asking and answering yourself. This is the critical starting point. We will also provide an overview and the key goals and objectives for the workshop.

Session 2: The Basics of Business Valuation

How do you begin to put a price on a lifetime of blood, sweat, and tears? It is a challenging exercise, and it is much more than financial reports and balance sheets. Here we will review the basics of business valuation and the tangibles and intangibles that ultimately determine business value. We will look at ways to recast your financials and actions you can take to improve value and profitability and develop a business strategy based on facts. We will review the critical wealth, profit, and value gaps to know when as you prepare your business for a third-party sale or family succession.

Session 3: Personal Financial Planning for Horticultural Business Owners

For most owners, 80% of their wealth and net worth is locked in their business. The quarterback of the personal financial readiness team is the Financial Planner, and this is who will help you reach your retirement goals. There are four components every business owner must deal with— cash flow, risk management, investment, and distribution of money for life. In this section, you will hear from expert financial planners on the importance of turning your non-liquid asset (business) into a liquid event to be managed to produce a repeatable, consistent, and rising income stream over one's remaining lifetime.