A 'ProPel' Series Workshop for Current Entrepreneurs

The statistics on businesses surviving through multiple generations are staggering. Just making it through the second generation is a milestone event for a business. Making it through the third generation is rare and making it to the fourth generation is almost unheard of. The good news is business owners can buck these trends with proper planning. This 3-part series workshop, developed by MassMutual and SCORE, will help you plan for the next stage for your business, for yourself, and for generations to come.

Fee: Free

Part 1: Succession Planning

This workshop begins by helping entrepreneurs understand the steps to planning for the eventual transfer of the business. This includes knowing the value of the business, choosing and preparing the appropriate successor, and having it all in writing At the end of this section, clients should be prepared for a variety of business exit strategies both voluntary and involuntary ones.

Chapter 1: Succession Planning

Part 2: Retirement Planning (March 12)

Once clients have determined the next steps for their business and their business’ worth, they can start focusing on the next steps in their own lives. In this section, we will discuss issues that arising with having your business be your retirement planning, and other options to save and provide for your retirement

Part 3: Estate Planning (April 9)

Tthis workshop will culminate discussing multiple future planning scenarios, including the difference between estate reduction, liquidity and equalization, and the planning documents needed to leave a lasting legacy. It is never too early to start planning ahead!

About this Series..

SCORE has partnered with MassMutual to equip mature business owners with guidance on how to plan for increasing the value of their mature business and eventually how to exit their business. By taking into consideration succession planning, retirement planning, and estate planning, business owners can begin to develop a strategy to secure their future and the future of their business. This program focuses on the tactical steps business owners can take now to create a plan for exiting their business smoothly.

This three – part series will help you plan as your business matures. The three sessions cover 1) Succession Planning, 2) Retirement Planning and 3) Estate Planning. Register for the other sessions on our web site.

Frank DeSantis Most recently, program director for a business incubator that helped start-up companies, Grow their Business, Develop Business Skills and Create a Sustainable & Scalable Business Model. A proven General Manager who has combined customer focused, operationally driven, P&L accountability, plus strategic business development experience and customer relationship marketing management to produce company recognized results in the Retail industry. A SCORE Delaware Mentor

Bob Jarvis Bob has executive experience as a senior manager with J.P. Morgan, GSI Commerce (eBay, Enterprise), and the U.S. Air Force. Most recently, he founded Quality Enablement LLC, established to help organizations, from senior management to individual contributors, identify and remove barriers to quality and worker productivity; and I am the author of the blog, “A Better Workplace …”. A SCORE Delaware Mentor

Bob Gorlitz Bob has 30 years with the Department of Defense and has held various positions within the material management and logistics community. He directed property accounting for 187 accounts throughout the United States and has 10 years experience in financial/estate planning for individuals and businesses.A SCORE Delaware Mentor