Succession Planning
Introduction Video
Description
Succession planning is much more than turning over the keys as you walk out the door. There are many critical variables you must put in place much earlier in the process than you might anticipate. This course gives you a comprehensive road map to ensure you optimize your ROA/ROI, provide continuity for your team members, and ensure your clients fully understand and buy into the transition.
Course Content
- Valuation Framework: Whether you’re buying or selling a practice you can apply our due diligence checklist to ensure you’re getting or paying a fair price.
- Personnel Assessment: This tool helps you assess the capabilities and fit of a prospective successor. if you are a prospective purchaser (successor), this same tool can help you assess the capabilities of your prospective team members.
- Practice Assessment: Understand the capabilities of the practice you are considering purchasing or expand the capabilities of your practice to optimize price.
- Client Assessment: All clients are not created equally. This tool gives you a concrete analysis of the clientele under consideration.
- Common Pitfalls: Learn about the eight common pitfalls that can undo even, “best laid plans of mice and men” to quote John Steinbeck.
Course Breakdown
1. Benchmarking your practice or one under consideration
2. Optimizing the value of your practice
3. Assessing team personnel individually and collectively
4. Assessing the successor
5. Expanding the capacity of your new team members
6. Doing your due diligence
7. The challenges and opportunities of family teams
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