One of the toughest aspects of owning a business, heading up an organization or running an educational institution is dealing with what happens next. Planning your exit involves letting go of what you're worked so long and hard to build. It means trusting somebody else to manage your life's work, to oversee your legacy, to carry on when you're gone — whether literally or figuratively, the reality is you're no longer in charge.
Providing for a smooth transition means explicitly defining your future objectives, followed by the design of a comprehensive strategy that takes into account all business, financial, legal, personal and taxation aspects of the succession. Planning for the next generation of leaders is essential to ensuring continuity, as is doing everything possible to minimize risk during what may be a period of great change.
At Croskey Lanni, we know that exit can take many forms. Sale of the business is one option, along with management or employee buyout, passing the firm on to family, staging a public offering, or even liquidation. Transition can also involve a portion of a business, such as a department, function or specialty.
Whatever the scope and setting, the goal is to manage and control outcomes. That means making choices, letting us assist you in putting formalized plans in place, and trusting us to make sure they're carried out.