{"id":5261,"date":"2014-06-10T11:28:34","date_gmt":"2014-06-10T15:28:34","guid":{"rendered":"http:\/\/khflaw.lawblogger.net\/news\/?post_type=news_events&#038;p=4856"},"modified":"2020-09-23T03:03:54","modified_gmt":"2020-09-23T07:03:54","slug":"5-ways-transition-business-next-generation","status":"publish","type":"post","link":"https:\/\/www.khflaw.com\/news\/5-ways-transition-business-next-generation\/","title":{"rendered":"5 Ways to Transition Your Business to Next Generation"},"content":{"rendered":"<p>1.\u00a0<strong>Define your goals.<\/strong>\u00a0What is your ultimate goal in transitioning your business? Do you plan on funding your retirement through this transition? Is it to leave a legacy? The reason behind your desire to transition will determine how you proceed.<\/p>\n<p>2.\u00a0<strong>Plan &amp; Implement Your Strategies.<\/strong>\u00a0Create a clear plan as you move forward with the transition. Always be sure you have this plan set before you start so you do not run into confusion while transitioning. Consider the following to include in your strategy as you prepare:<\/p>\n<p style=\"padding-left: 60px;\">a.\u00a0<strong>Financial<\/strong>. If your goal is towards retirement, how will you be funding it? What will be your compensation as you leave the company? Be sure you highlight financial issues clearly and consult with the appropriate experts to make sure these issues are handled well.\n<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.khflaw.com\/news\/5-ways-transition-business-next-generation\/\"  title=\"Continue Reading 5 Ways to Transition Your Business to Next Generation\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>1.\u00a0Define your goals.\u00a0What is your ultimate goal in transitioning your business? Do you plan on funding your retirement through this transition? Is it to leave a legacy? The reason behind your desire to transition will determine how you proceed. 2.\u00a0Plan &amp; Implement Your Strategies.\u00a0Create a clear plan as you move forward with the transition. Always [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":4960,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[494,479,415,507,503],"tags":[],"coauthors":[512],"class_list":["post-5261","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-sales-and-acquisitions","category-commercial-transactions","category-miscellaneous","category-outside-general-counsel","category-risk-management-counseling","miscellaneous_lawyer-kang-haggerty-fetbroyt-llc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>5 Ways to Transition Your Business to Next Generation &#8212; Kang Haggerty News &#8212; June 10, 2014<\/title>\n<meta name=\"description\" content=\"1.\u00a0Define your goals.\u00a0What is your ultimate goal in transitioning your business? Do you plan on funding your retirement through this transition? Is it to &#8212; June 10, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.khflaw.com\/news\/5-ways-transition-business-next-generation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways to Transition Your Business to Next Generation &#8212; Kang Haggerty News &#8212; June 10, 2014\" \/>\n<meta property=\"og:description\" content=\"1.\u00a0Define your goals.\u00a0What is your ultimate goal in transitioning your business? Do you plan on funding your retirement through this transition? 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