The IC-DISC Show

Ep046: Exit Planning and Succession with Mike Silverman and Matt Clark

August 18th, 2023  •  59 mins 7 secs  •  Download (54.5 MB)  •  Link with Timestamp

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Today on the IC-DISC Podcast, I spoke with Mike Silverman and Matt Clark, two attorneys specializing in exit planning and succession planning for business owners. They explained that exit planning is all about planning when an owner wants to leave the company, while succession planning identifies future leaders within the business. Both are crucial since you need a strategy for expected and unexpected departures.

Mike and Matt stressed meeting regularly so these plans stay on track and don't cause disruption. They also talked about having a whole team involved beyond just lawyers, with experts in different fields all working together towards long-term goals.

The overall message I got from listening was planning early, working with professionals with experience like Matt and Mike, and sticking with the process to ensure that transitions go smoothly for everyone.