How the Right Succession Plan Can Add Value to Your Business
October 26, 2021 
Chris Cimaglio and Todd Downing, BEST Human Capital
One of the key topics to be discussed at the GROW Executive Summit, which takes place Dec. 7-8 in Charlotte, NC, is succession planning, in particular how making the right decisions can add value to your business. While you’ve worked hard to build wealth and assets, sustaining them over the long term requires strategic succession planning. If you want the value of your business to remain intact for your successors, begin the planning process sooner rather than later.
The featured speakers for this presentation are Chris Cimaglio and Todd Downing, Co-Founders & Managing Partners, BEST Human Capital & Advisory Group.
“We want the industry to continue its positive growth and increase its viability, yet we have 10,000 baby boomers retiring every day, with many the key leaders at their company,” Cimaglio says. “Unfortunately, 80% of companies are simply not saleable or do not have a proper professional talent pipeline in place to continue success. At the same time, 78% of business owners have no transition team of experts (legal, financial, or other), and 49% have no exit plan or strategy.”
According to Downing, from a macro perspective, it’s important for business owners to begin the exit and succession process earlier, knowing that there are professionals to support the initiative in order to lessen the burden and time involved.
“We will share a process roadmap of how to bring together the proper resources and optimize the business for an exit, realizing there are many event solutions and ensuring that the retiring owner has a personal plan for what is next in their life,” Downing says. “This takes time, but it will help leaders pass along a positive legacy and successful business into the future.”
Both Cimaglio and Downing have been in the horticulture industry since they were young, and like others in this industry, they have a true passion for its continued success well beyond their careers.
“At the end of the day, the success of each company requires the right people and organizations with a positive culture that invests in the growth of their professionals,” Downing says. “We invest ourselves fully in helping companies achieve this development of fully functioning teams.”
Learn more, and register for the GROW Executive Summit, here.
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