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Entrepreneurs Connect: Success to Business Succession
Entrepreneurs Connect: success to business succession – Prompts and pointers for entrepreneurs
Sponsored by Meridian Credit Union
Entrepreneurs Connect is a workshop series developed in 2015 where we discuss business topics through local speakers and follow that topic up with group brainstorming wherein teams, you practice and apply a principle that you’ve just been taught. The purpose of the event is to create synergies with local businesses to allow them to become a part of a family of mentors and mentees alike and avoid social isolation of being in business by yourself. Connecting is the best form of learning, join us as we work together to make your business successful.
Business success to business succession – Prompts and pointers for entrepreneurs
From a lawyer’s estate planning view, the business is the object or the ‘what’ in a succession, but the subject is the ‘who’. That obviously starts with the entrepreneur, but as importantly it encompasses those people close to that central figure. Whether you’re prompted by developments in your business market, challenges in your own operation, or your age … if you’re within 5 years of (hopefully) waving good-bye, it’s time to take stock.
- Stepping back for perspective
- Coordinating with your professionals
- A cold, hard look at your skills
- Everyone loves their kids, but …
- Equalizing or equitizing?
- Trust in negotiating a buy-sell
- How might the money flow?
- What if you check out early?
- .. or can’t carry the mental load?
- The best-laid plans
Speaker Bio: Doug Carroll is Practice Lead – Tax Estate and Financial Planning with Meridian Credit Union. Meridian is Ontario’s largest credit union, helping more than a quarter of a million Members in communities from Windsor to Ottawa grow their lives and businesses. In his role, Doug researches case law, legislation and financial media, in order to prepare support material for Meridian wealth advisors, and in turn for Members. The balance of his time is spent writing articles for financial media, speaking on financial industry conferences and public seminars, and consulting directly with Members who have complex needs, particularly business owners.