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Building a business succession or exit strategy can be one of an entrepreneur’s best investments. But in practice, traditional succession approaches can be complex. 

Succession and exit often depend not just on business value, but also on financial wealth and its ability to support the founder’s and their family’s lifestyles. 

Current economic and market uncertainty, particularly around the path for inflation, may make entrepreneurs more worried about their next steps. 

In fact, an Investor Watch survey conducted by our partner UBS, in the second quarter of 2022 found that 37% of investors were highly concerned about the value of the assets they’d pass on to future generations. 

Despite the turbulence, today may be an opportune time to begin or revise, business succession and exit strategies so they’re right for the entrepreneur’s particular circumstances. 

In a three-part series, UBS will show how business owners and entrepreneurs can navigate the business exit and succession journey for their business, family, and financial goals. 

Identifying three key ingredients to succession or exit, based on experience with entrepreneurs and founders. 

In the first article, they explore how talk and communication are critical to success: Communication matters because succession planning is an incomplete description. A successful business transfer involves three phases: Succession talk. Succession planning. Succession doing. Without the “talk” phase around sensitive topics such as transparent decision-making, intergenerational control, and the family’s future beyond the founder’s lifetime, even the best-laid plans may fail. 

Read the full report here.