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Business Succession Planning Family Plan Hlb

Business Succession Planning Family Plan Hlb

By Mildred J at July 26 2019 09:41:42

Personnel: The success of any company depends on their ability to recruit, train and retain quality employees. The amount of emphasis in your plan for this section will depend on the number and type of employees required.

Create A Capital Plan: Next, I would develop a capital plan identifying dollars to be spent on the business to increase its overall value. While all capital dollars may not entirely be discretionary _ i.e., investing dollars for anticipated return from growth _ it is necessary to determine how capital dollars will be allocated whether for discretionary purposes or general maintenance. Projects that require capital are critical for the company growth and must be managed to their desired return, avoiding shortfalls in ROI or issues involving "capital creep". If you haven't already, setting up a capital committee to review expenditures in advance of the start of the project provides some assurance that the projects have been vetted against return on investment. Lastly, developing a post_audit process enables the team to review and monitor the progress of ongoing investments.

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