Adams Hub Center for Innovation and Northern Nevada SCORE are hosting a workshop from 8 a.m. to noon on Monday. The workshop is to help business owners determine when and how to exit their business. This three-part workshop, developed by MassMutual and SCORE, will help you plan for the next stage for your business, for yourself, and for generations to come. Part 1: Succession Planning helps entrepreneurs understand the steps in planning for the eventual transfer of the business, including knowing the value of the business, choosing and preparing the appropriate successor and having it all in writing Part 2: Once clients have determined the next steps for their business and their business’ worth, they can start focusing on the next steps in their own lives. We will discuss issues that arise with having your business be your retirement plan, and other options to save and provide for your retirement. Part 3: Ultimately, this workshop will culminate in discussing multiple future planning scenarios, including the difference between estate reduction, liquidity, and equalization and the planning documents needed to leave a lasting legacy. Presenter and SCORE mentor Brian Wheeler will create a roadmap to success through planning, strategy, and financial projections to assess viability. As an entrepreneur with a diverse background in structural engineering, construction, product development, patents, and now in financial services as an advisor, he is able to take businesses through a decision-making process to determine their best path forward. To register go to https://northernnevada.score.org/event/person-deciding-keep-or-exit-your-business or call Adams Hub at 775-222-0001 or email info@adamshub.org. Adams Hub is located at 111 W. Proctor St., across from City Hall.
