A CEO with the right experience, background and financial resources may well become the next owner. This process is sometimes called “Management Buy In”. To make a 'Management Buy In' work you have to find the best person for the job, not just the first person. Then, after a settling in period, you'll need a plan for: Ø Management Succession – to free up your time; and if you wish, Ø Progressive Sale of Shares – to free up your capital Consider 'Management Buy In' if: Ø Your business has “untapped” potential to boost revenue, and Ø This potential is sufficient to cover the costs of the new manager It's hard to imagine a more effective way to make a smooth transition of business ownership. But there are many pitfalls, so you'll need professional help. To find out if a 'Management Buy In' is right for your you we recommend: Ø A SuccessionPlan™ Business Ownership Analysis, and Ø A Financial Health Assessment Through its professional network SuccessionPlan™ has helped other owners find the right managers and integrate them into their businesses, allowing the transition of ownership to proceed smoothly in accordance with an agreed timetable. |