Succession Planning
Maximise the value of your business and learn how to create an exit strategy -
WE SHOW YOU HOW!
The National Institute for Socio-Economic & Environmental Research have secured Australian Government funding under AusIndustry’s Building Entrepreneurship in Small Business program to deliver a comprehensive mentoring program on succession planning. The program ran from March to September 2008.
Small Business owners were invited to learn about strategies on succession planning and business transition.
- What is succession planning?
- The Succession Planning Process.
- Maximising the return on your business.
- Gain hints, tips and links to useful resources.
- Find out how you can benefit from the upcoming skills development and mentoring program funded by the Australian Government!
For more information please contact:
Cr. Lew Brennan
Chairman
Mob +61 412 399 357
Small Business owners were invited to hear about strategies on succession planning and business transition.
- What is Succession Planning and why do it?
- How to maximise the value and marketability of your business!
- How to develop strategies for exiting a business while ensuring business continuity!
- Generational transition.
- Retirement funding.
- (Or how to manage the business so you can take a holiday)
- How to develop your team!
- How to implement effective management systems and add value to your business!
- Transfer options and transfer equity!
- How to identify the ideal timeline for the succession plan!
- How to manage change and hand-over!
- How to develop effective contingency plans and risk management strategies!
- How to identify the qualifications your people must have to best lead the company through the next generation!
- Identify the professional development process and the steps for grooming staff or the generation including training, coaching, and mentoring!
This innovative program was also backed up by:
- Audio streaming sessions (Internet based) on succession planning and exit strategies!
- Chat room availability!
Intending participants were encouraged to register early and not miss out on one of the 35 funded positions!
The program ran from March 2008 to September 2008.
The cost of the program per participant was only $590.00 (+GST), retail value over $7,000.00!
Workshop sessions were typically the 3rd Tuesday of each month running from 9.00am until 12:00pm, plus monthly one-on-one mentoring sessions were on an appointment basis convenient to the small business owner.
This program helped small business owners maximise the value and marketability of their businesses and helped develop strategies for exiting a business while ensuring business continuity.
Q&A
Q What is Succession Planning?
A Small business ‘succession’ involves transition of business ownership, through means such as the sale of the business, generational succession, management/employee buy-out, realisation (liquidation) of assets and public listing.
Q Who is the program for?
A The Succession Planning initiative from NISER provides workshops and one-on-one mentoring to help small business owners develop strategies to exit their businesses in a manner that realises the maximum value and marketability of their businesses while ensuring business continuity.
Q What does the theme ‘Business Continuity’ mean?
A ‘Business Continuity’ can be achieved through such measures as generational transition, retirement funding and maximising the saleability of the business. The program will equip small business owners planning to exit their businesses at some stage in the future with an integrated set of skills necessary to maintain business continuity.
Q I’m not selling or retiring just at the moment, is this program for me?
A This program is for small business owners considering their options up to ten years out. Good succession planning is a long term exercise, developing the business to maximise its value and chance of survival after the current owner leaves.
Q I already have a business advisor-coach, how will this help me?
A We are quite happy to work with your existing business coach; our focus is succession planning, exit strategies and maximising the value of the business.
Q How much did it cost?
A The program was only $590.00 (+GST) per person and was fully tax deductible.
For more information regarding the Succession Planning program contact NISER 07 5442 5050
info@niser.org.au