Mergers and Acquisitions
Internal Ownership Transfers
Planning for success in succession.
Nearly all sectors of society have their rites of passage. The symbolism and importance to culture and legacy differ, but every rite is a vital growth journey.
Your business has its own rites of passage along your entrepreneurial journey – it has a culture and legacy you’ve created, nurtured, and grown. One rite of passage for an entrepreneur is planning for the transition of business ownership. For those involved in this rite of passage it is a monumental ritual – financially, professionally and personally.
How to transfer ownership to a team or family member.
Destined is here to guide you through the different options for transferring ownership of your business internally.
The sale route will come with some loose ends to knot here or there, of which you’ll need to be aware of the monetary implications for the buyer.
Selling a percentage of ownership enables you to take some money off the table; potentially maintaining control while you ensure the next generation can run the business as owners – not just as employees.
If you’re fortunate enough to have family members working with you, who largely share your business vision, you have the opportunity to transfer the business to a family member.
Sell the business to your top brass.
One possible way to transfer ownership internally is to identify the most competent leaders within your organization. Your leadership team is a resource that embraces the responsibility of your culture and is honoring your vision daily. They already have the abilities, the experience, and the right attitude. An additional benefit is that they already know how to inject their operational ideas, ideas that work in symbiosis with yours, to potentially reach new markets, clients, and opportunities.
Set your successor up for success.
The candidate you choose to continue your legacy – whether familial or managerial – will have an impressive track record in your business. Their experience and competence are a solid foundation on which to position them to gradually take the helm and steer the business toward its next level of growth.
Safeguard your business legacy.
Transferring ownership is a critical part of your business journey – and it’s important to us too, we’ll be by your side from start to finish. We’ll ensure that when all financial aspects are decided, new leaders are leading, and your life’s work is safely in the hands of the next generation, you will be thrilled with the outcome. A business legacy established with a heritage that stands the test of time.