Episode 247 - Succession Planning (Part 2)

Recap

In this episode, you’ll discover:

Do you have a Personal Succession Plan? (Is your Estate Plan complete and current?)
What would happen to your business if you were out of the picture?
Does your spouse / family know what to do if you pass?
Is there a written plan of action for your beneficiaries?
Included: the Remarkable Succession Plan Guide (PDF)
Do not procrastinate: Start this / complete this today

Episode Highlights

01:03 – The importance of succession planning for chiropractors and having a system in place.

03:11 – Having a succession plan in place, especially for chiropractors, to mitigate potential consequences.

07:16 – Estate planning process, including a will, trusts, and a board of trustees to execute wishes and values.

09:15 – Retirement planning for entrepreneurs, who are often risk-averse but need to prioritize their financial futures.

12:01 – Clear planning and execution will protect your legacy and create a generational experience.

17:33 – The importance of organization and documentation in succession planning, using the law of Dominion as a powerful reference.

22:28 – Updating one’s vision story and business succession planning annually.

26:36 – Essential steps for a successful business transition.

28:17 – The importance of being a ready leader and business in today’s fast-paced world

30:26 – Dr. Andrew White, the founder of Align & Co, is this week’s Success Partner. Join Dr. Lona Cook and Dr. Andrew as they discuss the evolution of launching Align & Co and how it aims to revolutionize the delivery of chiropractic care. With a focus on bringing chiropractic care into the workplace, Dr. Andrew outlines how Align & Co partners with businesses to provide on-site services, while highlighting the innovative approach to working with insurance companies. Explore the vision and passion driving the movement to make chiropractic care more accessible and impactful in the healthcare landscape.