Succession Planning is often seen as a once in a lifetime occurrence wherein for the business, a misstep or error could cost years of growth and trigger debilitating financial setbacks. And for the CEO or owner, provides the potential to affect their standard of living as they transition into retirement and the potential risk to the future of the firm they have worked so hard to create.
Succession planning is the process of identifying and preparing suitable leadership, management or critical technical talent to replace key players — such as the CEO — within an organization in the event of a planned or unplanned replacement.
IMC delivers a full-service process that manages the integration of legal, financial and human aspects directly associated with an organizational transition and aligns them with your personal goals. We work with you to help with the “hard” conversations, leadership selection process, opportunities for retirement income and wealth preservation.
This process offers diversity in succession options and places emphasis on growing the business leadership and value during a three to five year period of phased transition. Our focus is on providing an orderly transfer, reducing owner liabilities, growing the maximum value from your business and making sure the business is transferred to a viable successor to avoid family and business crises.