RECAST - Digging with Accountants - Journey of Succession

About this episode

The episode discusses the complexities of business succession and the importance of planning ahead.

This episode is a recast from the Queensland Business Hub discussing the topic of succession and how to get it right for your business. This episode is hosted by Craig Barry and Scott Lindeblad with special guest Peter Andreassen, and they discuss what succession means to them, because this tends to mean different things to different people. It can range from passing the business on to the next generation, selling the business for the maximum possible price or perhaps even getting the business ready to list on a stock exchange. Succession is a journey, not an event – it doesn’t start on the day the business is listed for sale and it doesn’t end on the day the business sale occurs. It covers a period far longer than that. This episode discusses three important aspects of the succession process; structuring for succession, maximising value and preparing for the future. The mantra to go by is don’t leave succession until the last minute. Business owners should regularly review their structure and ensure that not only the structure is fit for purpose, but also succession ready. Craig, Scott and Peter discuss the “4D’s” (divorce, disease, dispute and death) that contribute to half of…

People in this episode

Hosts: Craig Barry, Scott Lindeblad

Guest: Peter Andreassen

Topics covered

• succession planning
• business transition
• maximizing value
• business structure
• future preparation

Keywords

• succession
• business sale
• maximizing profit
• 4D's
• business structure
• preparation

Mentioned in this episode

Organizations: Queensland Business Hub

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