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Five Ownership Transition Mistakes That Are Easier to Prevent Than Fix

 

Riegg Insights is an educational and thought-leadership platform created by Christopher Riegg, CFA, CPA, to provide business owners, CEOs, leadership teams, and boards of directors with practical perspective on strategic growth, ownership transitions, mergers and acquisitions, financing, and long-term value creation.

Christopher Riegg, CFA, CPA

Partner and Founder,

Promontory Strategy Group

Partner and Founder,

Promontory Point Capital

Content Creator, Riegg Insights

Riegg Insights – Lessons Learned is a written series sharing practical observations and perspectives developed through more than three decades of advising privately held and family-owned businesses.

In this latest installment, “Five Ownership Transition Mistakes That Are Easier to Prevent Than Fix,” we explore several recurring mistakes that can limit an owner's options, create unnecessary challenges, and make an eventual ownership transition harder than it needs to be.


These include waiting for a reason to begin planning, deciding on an outcome before evaluating the alternatives, assuming key stakeholders share the same expectations, waiting too long to view the business through the eyes of a potential buyer or successor, and treating a transition as an event rather than a process.


One of the central themes is simple:


Good transition planning is not about deciding today what you must do tomorrow. It is about preserving the ability to choose.


Owners who begin addressing these issues early generally have more time to strengthen the business, align stakeholders, evaluate alternatives, and make thoughtful decisions before circumstances begin making those decisions for them.


As Christopher Riegg observes in the latest article:


“A good transition plan should not tell you what you have to do. It should give you more choices about what you can do.”


To read the balance of this article, please click the following link:


Five Ownership Transition Mistakes That Are Easier to Prevent Than Fix


 

"Good transition planning is not about deciding today what you must do tomorrow. It is about preserving the ability to choose."


- Christopher Riegg, CFA, CPA

Christopher Riegg, CFA, CPA, is Founder and Partner of Promontory Strategy Group and creator of Riegg Insights. Throughout his career, Riegg has advised privately held and family-owned businesses, entrepreneurs, boards of directors, lenders, investors, and leadership teams on ownership transitions, mergers and acquisitions, strategic growth, financing, and other significant strategic and financial matters.


Promontory Strategy Group provides strategic and financial advisory services to privately held and family-owned businesses, helping ownership groups and leadership teams evaluate alternatives, prepare for important transactions, and execute strategic and financial objectives.

Christopher Riegg, CFA, CPA

Promontory Strategy Group

414.763.1843

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