59. The Plan For Succession in the Family Business
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Do you have a succession plan in place for your family business?
In this episode, Michael Parise shares his personal experience with succession planning as the second generation within his family business. He reveals the importance of communication between generations when developing your business succession plan, and how the expectations of each generation can shape the future of your business.
Michael discusses:
- How you can create a sustainable succession plan that will keep your business intact through the generations
- How the expectations of each generation impacts the succession planning process
- Why you need to have open communication between generations in your planning
- The benefit of working with outside sources and experts when creating a plan for your family business
- And more
Discover what you need to create a sustainable succession plan with Michael Parise!
Resources:
Copper Beech Financial Group: (856) 988-8300 | John Parise | Michael Parise | Investedge | Episode 57