Episode notes
In this podcast episode, Kevin Thompson discusses the importance of succession planning for business owners. He highlights the common mistakes made by business owners, such as not starting the planning process early enough. Kevin emphasizes the need to consider whether to sell internally or externally, and raises important questions about the financial capabilities and cultural impact of each option. He also stresses the importance of realistic valuations and working with a team of professionals to ensure a successful transition.
Overall, the episode provides valuable insights and advice for business owners looking to plan for their succession.
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Keywords
cfpsuccession planningvaluationstransition