As a successful small business owner, the issues contained within this handbook either haunt your daily life currently or soon will. Succession or Failure is designed to address mission-critical questions and provide workable solutions that you can begin to implement in your quest for your ultimate retirement. Managing your lifecycle in business is the same as flying an aircraft. You initially add some fuel before starting up, you fuel the business with revenue and capital induction as you ascend, you fly along your intended course, and ultimately you bring it in for a safe landing as you exit with a handful of cash. Sounds simple, though the vast majority of businesses fail somewhere along their flight path and face an emergency off-airport landing or worse. The question is, why does this happen to so many small to mid-sized business owners? The reason is simply pilot error, just like in flying. Through a series of distractions, adverse conditions, or fuel starvation, we find ourselves with red indicators. The real problem is a pure lack of experience and formal training. This handbook will assist you in navigating your small to mid-sized business through key employee identification, succession planning, and ultimately value extraction. By using this handbook as a guide to running your business, you will have an appreciation for the need to run your business with an exit strategy in mind. In the end, there are only two options: Succession or Failure.
About the Author
Kristofor R. Behn is an entrepreneur and self-proclaimed businessman at heart. Applying fundamental merger and acquisition strategies common in large corporations, Kristofor pioneered an acquisition strategy in the financial planning and investment advisory space beginning in 2000, long before other advisors considered it a viable strategy for business growth. Kristofor has spent the better part of the last two decades developing and refining all aspects of his financial planning and investment advisory business and has worked to perfect his practice acquisition strategy. Despite a lack of suitable funding options for practice acquisitions, Kristofor has successfully completed more than six acquisitions and consulted on countless others. Having resolved the merger and acquisition funding issue, today Kristofor is forging ahead full throttle in pursuit of practice acquisition and succession planning consulting opportunities.