Succession Planning Workshop – Franklin

Date: June 18, 2019
Time: 1:00 pm – 4:30 pm
Cost: No Cost
Franklin Industrial & Commercial Development Authority (FICDA)
191 Howard Street
Franklin, PA 

NWIRC is pleased to partner with Steel Valley Authority to present this Succession Planning Workshop.

What does it mean to leave your business successfully?
It means the company is well positioned for continued stability or growth, and the outgoing owners have enough to financially exit and live the life they desire. It also means the incoming leaders fully understand the strategic direction for the company, and successors have the knowledge, skills, and abilities needed to succeed. First and foremost, no one is caught off guard! Customers, employees and suppliers all feel secure about the future.

Succession is something that many family-owned businesses think will happen naturally—or don’t want to think about at all. But planning requires careful considerations and doesn’t happen overnight. This practical and interactive workshop is for anyone ready to begin developing the key areas of an initial transition and succession plan. If your age starts with “5” or above and you’re a small family-owned manufacturer, this is the workshop for you!

• Evaluate options for your company and when to choose them
• Learn the key components of a good succession plan
• Discuss how and when to transition out of your company
• Explore the importance of estate and financial planning for an exit strategy
• Evaluate family dynamics and the need for outside management or other options for non-family management of the business
• Increase your company’s bench, value, and future stability

At the end of this session, participants will have a draft plan to discuss with the rest of their family, management team, or professional advisors; as well as practical tips for continuing to develop, finalize, and implement their plan.

 About the Speaker:  NWIRC Strategic Business Advisor Susan Hileman has been working with manufacturing business owners for over 17 years. A John Maxwell Group Certified speaker and trainer, she will share some of these essential skills leaders can learn in order to position their company for positive growth and a thriving culture.

Please register by Friday June 14, 2019.

Email mreichard@nwirc.org for additional information or questions.