The perpetuation of ownership is one of the most challenging issues that any privately held business will face. In its simplest form, the process begins with the determination of who will eventually buy the business and when and how the purchase will occur. It must also address who is going to run it, when they are going to run it, and what preparation and development will need to take place to equip them.
These are difficult and complex issues. It can be hard to find the correct answers and effectively implement and accomplish them.
In addition, starting the perpetuation conversation may look different for an internal family transfer, a younger person of interest who wants to be part of the process, or a seasoned owner navigating the unexpected yet required transition.
The Big “I" Agent Development programs worked in collaboration to launch a Pathways to Agency Ownership webpage that seeks to provide perpetuation resources from different career stages and perspectives. The content includes resources for current agency owners and future agency owners, on-demand videos, perpetration articles from the Big “I" Virtual University, and resources from the Big “I" Diversity Council, Big “I" Hires, and Invest™. Consultants are available for those looking for expert advice.
Owners can't afford to wait if they want to plan the perpetuation process properly. Check back on the new page often to benefit from other resources in development including additional perpetuation webinars, content developed specifically for young agents, Best Practices checklists and more.
Questions can be sent to Jennifer Becker, director of education programs.