Business Succession Planning

Owning and operating a Florida business takes attention to detail, dedication, and a keen eye for opportunities to protect the business’ long-term stability. We frequently talk about business succession planning and why it’s imperative that you have a plan in place for when you’re gone, but what about business continuity plans?

Selling your Florida business is a huge moment in your life and career. You worked hard to build to this point and are ready to receive the fruits of your labor. Now that you’re in the closing stage of the deal, it’s time to make sure everything is officially in order before handing over the keys (literal and figurative) to the business.

One of the most important (if not the most important) stages of a business sale is the due diligence process. At this point, you and your partners have one last chance to uncover any unknowns, misinformation, or misdirection.

For Florida business owners looking to sell their business, it’s important to understand the various stages of a deal and where your leverage lies. The truth is that, in most mergers and acquisitions (M&A), leverage shifts from party to party depending on where you are at in the deal.

We don’t often focus on the negative, but it’s important to acknowledge that business partners dying is a very real possibility. Companies deal with this all the time, so you should have a plan in place to ensure this doesn’t become a time of panic.

Attorneys from all different practice areas went through law school to get where they are today. It’s no wonder everybody that knows or works with an attorney thinks they can slip in questions about unrelated practices whenever they get the chance. But, we’re here to tell you something we wish everybody knew: not every attorney has answers to every single legal matter.