Northern Nevada SCORE workshop Monday at Adams Hubs to offer strategies for exiting your business
Submitted by Carson Now Reader on Thu, 08/26/2021 - 2:56pm
Event Date:
August 30, 2021 - 8:00am Adams Hub Center for Innovation and Northern Nevada SCORE are hosting a workshop at 8:00 a.m. to 12 noon on Monday, August 30, 2021. The workshop is to help business owners determine when and how to exit their business. It is never too early to plan ahead!
The statistics on businesses surviving through multiple generations are staggering. The good news is business owners can buck these trends with proper planning.
This 3-part workshop, developed by MassMutual and SCORE, will help you plan for the next stage for your business, for yourself, and for generations to come.
Part 1: Succession Planning helps entrepreneurs understand the steps in planning for the eventual transfer of the business, including knowing the value of the business, choosing and preparing the appropriate successor and having it all in writing
Part 2: Once clients have determined the next steps for their business and their business’ worth, they can start focusing on the next steps in their own lives. We will discuss issues that arise with having your business be your retirement plan, and other options to save and provide for your retirement.
Part 3: Ultimately, this workshop will culminate in discussing multiple future planning scenarios, including the difference between estate reduction, liquidity, and equalization and the planning documents needed to leave a lasting legacy.
Presenter and SCORE mentor, Brian Wheeler will create a roadmap to success through planning, strategy, and financial projections to assess viability. As an entrepreneur with a diverse background in structural engineering, construction, product development, patents, and now in financial services as an advisor, he is able to take businesses through a decision-making process to determine their best path forward.
To register go to https://northernnevada.score.org/event/person-deciding-keep-or-exit-your... or call Adams Hub at 775-222-0001 or email info@adamshub.org. Adams Hub is located at 111 West Proctor Street across from City Hall in Carson City.
