Financially Simple

If you want to make the eight-figure exit, you need to begin planning for it right now. Too many people fail to realize the complexity of proper succession planning and the time required to do it correctly. As a result, many business owners reach their exit, receiving only a fraction of what they could have or worse, nothing at all!   In this episode, I look back at the relay race and what it can teach us about proper succession planning in your RIA. I also discuss the ways you can begin decentralizing and preparing your firm's leadership for your eight-figure exit.   This week on The Financially Simple Podcast:    (0:35) The relay race and business (3:40) What causes a poor transition? (6:24) Effectively passing the baton (7:22) Examine your current processes & develop a complete system (8:42) Creating capacity & implementing new processes (10:12) Clean the office (11:35) The depth of your bench (13:44) Improve collaboration and training to increase engagement   Ou