How can a carefully planned succession pave the way for a successful business transition?

Today on the MCM Wealth Podcast, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines talks about the importance of succession and exit planning for business owners, highlighting the key differences and the main objectives, providing valuable insights to ensure a smooth transition for both the big boss and the business.

Kirk discusses: 

• Succession planning: Understanding what it entails and why it’s crucial
  
• Arriving at a clear definition of succession planning and its significance
  
• Navigating through the complexities of successional planning and strategic management
  
• Expanding the scope of succession planning for the seamless transition of ownership
  
• Exit planning: Unveiling the key objectives and strategies
  
• Outlining the main goals of exit planning for a successful business transition
  
• Distinguishing between succession planning and exit planning for better decision-making
  
• Effective strategies for a successful business exit and post-transition objectives
  
• And more
  

Resources:

• From Listing to Closing: How to Sell Your Business Efficiently With Max Friar (Ep. 17)
  
• Exit Strategies for Your Business (Ep. 16)
  
• A Guide to Selling Your Business with Jim Cascino (Ep. 11)
  

Connect with Geoff Hakim: 

• MCM Wealth
  
• Office: 844-626-4949
  
• LinkedIn: Geoff Hakim
  
• geoff@mcmwealth.com
  
• Direct Line: 415-299-6574
  

Connect with Kirk Loury:

• MCM Wealth
  
• Advisable Wealth Engines
  
• LinkedIn: Kirk Loury
  
• kirk@mcmwealth.com
  
• Direct Line: 609-759-0404
  

About Kirk Loury: 

Kirk provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment. He has particular expertise in applying well-conceived insurance products as investments within a wealth plan to minimize portfolio volatility, deliver high tax efficiency, and meet multi-generational income goals. While having experience with institutional investors, Mr. Loury’s primary focus is with private wealth investors including family offices. Kirk Loury received a bachelor’s degree in marketing from the University of Colorado, Boulder, and an MBA from the Harvard Business School.