When it comes to family businesses, continuity is the key. And no one knows this better than the business owner who is looking to transition out of their business.
Whether it's due to retirement, health concerns, or simply a desire to move on to something new, exiting a business can be complex and emotionally draining.
Fortunately, there are a few things that business owners can do to help ensure a smooth transition. These are steps that business owners can take so that their family business can continue to thrive long after they've left it.
Join Matt DiFrancesco and Nicholas Niemann, a family business continuity attorney and Partner at McGrath North Mullin & Kratz, as they talk about how to design and deploy critical actions that business owners need to grow, protect, and transition their family businesses - and end up with a strong “fourth quarter” in business and in life.
They also talked about:

(02:17) How Nick got into business continuity planning
(03:33) What the “pioneer mindset” is all about
(06:19) What fourth quarter planning means
(11:49) How to address business owners who are not sure if they want to leave the business
(14:08) The three key questions every business owner must be able to answer
(15:09) How does the Business Model Canvas work?
(15:50) Why business owners need to understand how their business model works
(17:01) How does Nick help business owners identify what their primary business is?
(19:55) The importance of understanding your WHY
(21:47) The value of having a continuity plan in place
(25:14) Why business owners need to start planning early

Connect with Nicholas Niemann

Websites:

https://www.mcgrathnorth.com/

https://www.mcgrathnorth.com/attorneys/nicholas-k-niemann

https://www.myfourthquartergameplan.com/
LinkedIn: https://www.linkedin.com/in/nick-niemannba635810/
Phone: +1 (402) 633-1489
Connect With Matt DiFrancesco:

[email protected]

(814)201-5855

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial
About Our Guest:
Nicholas Niemann grew up in a small midwest town in Quincy, Illinois where his family ran a number of family businesses. He studied at Creighton University College of Business in Omaha then went on to law school.
His entire life, Nick’s focus has been on companies with small middle market, family businesses, and largely the supermarket businesses that his family was involved in as he grew up.
In 1983, he started working at the McGrath North Mullin & Kratz, PC LLO as a partner and practicing attorney.
Nick has developed four principal areas of practice while with McGrath North namely: State and Local Tax and Incentives, Business Owner Succession and Exit Planning, Business Planning and Design, Family Estate Planning.
Today, Nick enjoys working with family businesses of all types and sizes around the country. As a long-time business continuity attorney, he has also developed specific protocols for business continuity, succession, and exit planning and has worked with more than 900 CEOs around the country to help build a strong economic future for companies and the families which count on them.
As a Succession Planning and Exit Planning attorney, he has authored books on Succession and Exit Planning (including his latest book, “Fourth Quarter First”).