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Succession and Transition Planning

When is the Time Right for Succession and Transition Planning?

It is never too soon to begin thinking about succession and transition planning. Smooth succession and transition processes take time, forward thinking, planning, and discussion around leadership, business operations and ownership roles and responsibilities. Regardless of whether you are looking to make a transition imminently or retirement is a long way off, Telos Group can offer support and guidance to prepare your family to make the shift from one generation to the next. 

Is Ownership Transition Imminent?

If so, it is time to start ironing out future ownership roles and responsibilities. Preparing future leaders takes time, skill-building, and training to ensure the success of all levels of your family, business, and overall wealth. Succession planning does not happen overnight - it takes time and planning to create a successful succession and transition plan. Succession planning is a process, not an event.

Do you have a clear leadership succession plan?

Succession planning needs to happen at two levels: transitioning the business and transitioning ownership. The organization of ownership and leadership roles will both go through transformations during this process, which is why it is essential to have a leadership succession and transition plan.

Have You Been Putting It Off?

It is natural to put off succession and transition planning, especially if retirement seems like a challenge for the future. Even if they are not just around the corner, it is never too soon to start the process. The longer lead-in time you give to yourself and your family the more comprehensive your discussions can be around those important questions of ownership roles and responsibilities, family business leadership and your common hopes for the future of the family enterprise. No matter how far off it may seem, it is never too early to start the process.

Do You Need a Succession Plan?

Exploring complex questions around ownership roles and responsibilities or succession, continuity, and transition planning are more effective with nuanced support. Here at Telos Group, we have a myriad of skills, tools, and techniques that are tailored to help you and your family members consider the tough and vital questions of succession planning. We will guide you through the essential conversations and ask the necessary questions so that you can successfully transition through generations.

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