Preserve your legacy
What you will learn.
Financials.
1.
Learn what drives the value of your business and how you can maximize it.
Relationships.
2.
Preserve your legacy and create value through your employees.
Operations.
3.
The importance of clear documentation of your operations and processes and how to use technology to drive efficiencies.
Marketing.
4.
Increase the value of your business through partnerships with your customers, suppliers and other stakeholders. Make your business stand out to potential buyers.
Next steps.
5.
Do a deep dive into the transition process – what is involved? Who is involved? Move ahead empowered with a customized, actionable plan.
About succession ready
Our mission: Protect Your Business Legacy with Succession Ready.
You’ve devoted years to building your business—now it’s time to protect your legacy, and help RI preserve its workforce and economy.
All sessions are provided at no cost thanks to generous grants from our partners.
The program is delivered by partners who have helped small business owners with succession planning. As a participant you will gain access to industry-specific content, peer to peer networking, individual experts/practitioners, and technical assistance with exposure to potential buyers and third-party resources.
Program
Succession Ready will be delivered in two parts.
Succession Ready is a short series of free educational workshops to help small business owners develop and navigate a successful succession plan for their businesses. This workshop is open to all Rhode Island business owners planning for retirement or sale with an annual revenue over $500K.
1. 90-min. Intro Workshop
DATES: TBD
This 90 minute Introductory Virtual Workshop will cover how ready you are for succession and what your succession options are. Additionally, it will cover how ready your company is for succession in the following areas: Financials, Operations, People/Culture, and Marketing/Customers.
You will walk away with a scorecard on how ready you are for succession and if the Succession Ready Course is a good fit for you.
GOALS:
Help you understand the importance of succession planning. Help you come to the conclusion on whether or not the 5 week course is a good fit.
Schedule:
- 8:30-8:45: Introduction
- 8:45-9:15: Breakout Session 1: Am I Ready? What are my succession options?
- 9:15-9:45: Breakout Session 2: Is My Company Ready? (Participants can select from the following sessions- Financials, Operations, People/Culture, Marketing/Customers)
- 9:45-10:00: Conclusion
Key Takeaways:
- A detailed understanding of the succession process and what will drive your individual success.
- A scorecard on how ready your business is for succession.
Five-Module Course
DATES: TBD
The Succession Ready Course is comprised of five three-hour workshop modules on key succession planning topics for those who are interested and qualify.
Each Module will have participants self-reflect and fill in what they need to do in specific areas of their business. In addition, each module will also have subject matter experts as guest speakers to give participants the opportunity
Modules:
- Financials: Learn what drives the value of your business and how you can maximize it.
- People: Preserve your legacy and create value through your employees.
- Technology, Operations and Processes: The importance of clear documentation of your operations and processes and how to use technology to drive efficiencies.
- Marketing and Networking: Increase the value of your business through partnerships with your customers, suppliers and other stakeholders. Make your business stand out to potential buyers.
- Next Steps: Do a deep dive into the transition process – what is involved? Who is involved? Move ahead empowered with a customized, actionable plan
GOALS:
- Help you prepare for succession
- Connect you with the right resources to make your transition a success
Key Takeaways:
- An action plan on specific items you will work on in each area of your business
- Network of resources to make your transition a success
Testimonials
Hear what participants have to say.
FAQ
We’re here to help. Reach out with more questions.
Any Rhode Island business owner in Rhode Island who has annual revenues of at least $500K. (Exceptions can be made, please contact us).
Succession Ready ensures owners keep their businesses open, preserve their legacy and are able to accumulate generational wealth by developing a customized action plan and a network of resources.
- Financials: Learn what drives the value of your business and how you can maximize it.
- People: Preserve your legacy and create value through your employees.
- Technology, Operations and Processes: The importance of clear documentation of your operations and processes and how to use technology to drive efficiencies.
- Marketing and Networking: Increase the value of your business through partnerships with your customers, suppliers and other stakeholders. Make your business stand out to potential buyers.
- Next Steps: Do a deep dive into the transition process – what is involved? Who is involved? Move ahead empowered with a customized, actionable plan.
If accepted into the program, you will be provided with detailed logistics.
- Complete our brief application.
- Get more details and all your questions answered by attending one of our upcoming Virtual Information Sessions.
YES! All sessions are provided for FREE through a generous grant from RI Commerce.
The course will be taught by Babson College faculty.
We will also have expert guests from various fields pertaining to succession planning and business acquisition.
Contact Us
Have any questions? Please feel free to contact us here!
Please complete the form below and join our mailing list to get updates and invitations.
Our sponsors
Rhode Island Succession Ready program is brought to you by the following sponsors
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