Exit with Style: Private Business Owners Plan for ‘Living Transition’

Whether public or private, successful businesses share some of the same concerns. Attracting and retaining talent, balancing growth and risk with profitability and adapting to economic changes are all essential. But the owners of private businesses face unique challenges, particularly when they decide to make changes in the ownership or management of the business.

Owners of family businesses often intend to pass on their companies to the next generation. Whatever the case, the issues surrounding these "living transitions" are often highly complex. The best solutions are holistic and focus on the long-term needs of the business owner.

This article describes strategies for integrating business, personal and financial issues into a comprehensive and executable business transition plan.