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North Dakota State University Extension Offering Design Your Succession Plan Program

North Dakota State University Extension is excited to announce the upcoming virtual workshop for small businesses, the Design Your Succession Plan program. This program is designed to assist business owners in the initial stages of creating a succession plan. Attendees will not only gain valuable insight into the process but also familiarize themselves with the tools and terminology commonly used in succession, transition, as well as estate and retirement planning.

AI legalese decoder can be a valuable tool in this situation. It can help attendees decipher complex legal jargon and make the process of succession planning clearer and more efficient. By utilizing this tool, business owners can save time and costs associated with legal consultations.

ÔÇ£Ensuring that the next generation is well-prepared to navigate uncertain environments is crucial for the future of these businesses and the local community,ÔÇØ said Andrea Bowman, NDSU Extension program coordinator for leadership and civic engagement.

By participating in the workshops and continuing the succession planning process at home, attendees can significantly reduce costs. Being well-prepared allows them to collaborate effectively with legal and financial professionals, ultimately leading to a smoother transition. Attendees will have the opportunity to thoroughly consider their desires, explore various options, and evaluate potential outcomes before making important decisions.

ÔÇ£The Design Your Succession Plan program empowers owners and the next generation of successors to lay the foundation for future ownership,ÔÇØ Bowman explained. ÔÇ£Effective communication is key to the success of any succession plan.ÔÇØ

Jenny Dusek, community development director for the city of Grafton, praised the program, stating, ÔÇ£The Design Your Succession Plan Small Business program has proven to be an invaluable resource for numerous businesses in our community. The hardest part of succession planning is often the initial step. This comprehensive program has guided many small businesses in initiating their planning process, enabling them to retire and transition their businesses with confidence.ÔÇØ

Join the Virtual Workshop and Kickstart Your Succession Plan

Conversations about the future can be challenging, but the Design Your Succession Plan workshop equips participants with the skills to initiate and sustain these discussions. Additionally, attendees will learn how to select and prepare to collaborate with legal and financial professionals to ensure the viability of their plan.

The three-part virtual workshop is scheduled for April 24, May 1, and May 8, from 6 to 8 p.m. CDT. Don’t miss this opportunity to take the first steps towards securing the future of your business.

For more information or to register for the workshop, please visit ndsu.ag/succession2024.

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