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Ep49 - There’s More than One Way to Prepare for the Succession of Your Business, with John Novachis
For an entrepreneur, having a plan for succession can be the biggest opportunity of your career.
John Novachis, IPC’s EVP of Corporate Growth and Development, talks about challenges in succession planning, strategy selection, and maximizing business value.
Chris Reynolds, Executive Chair and co-founder of Investment Planning Counsel, is turning the page on what it means to build a better business.
Tune in to conversations with visionaries and financial advisors who have walked the path to success for ideas you can implement today.
Succession planning is usually the last stage in an entrepreneur’s journey, but it’s often riddled with challenges.
Entrepreneurs often come up against one of their biggest challenges when it’s time to exit their business. Undoubtedly, there’s lots to think about: clients, staff, and themselves. I’ve sold my business numerous times and had the same anxieties and sleepless nights every time.
Each time, I had questions: How do I maximize the value of my business? How do I determine who my successor should be? How will I know my clients will be looked after? What happens to the loyal team that helped me build my business? How do I extend the legacy I have built?
If you’re at this stage of your entrepreneurial journey, this episode is for you.
John Novachis, the Executive Vice President of Corporate Growth and Development at IPC spends his days working with independent financial advisors, to help them navigate this crucial part of entrepreneurial journey. With over 25 years in the business, John has helped many Advisors prepare for and succeed their business well. This includes supporting them in overcoming challenges, identifying the right succession strategy, and maximizing the value they can extract from their business.
John and I talk about:
- His own journey and how he helped develop IPC Pinnacle, IPC’s corporate branch model, which is a succession option for independent advisors in Canada.
- The other strategies for succession Advisors have in today’s business environment.
- The biggest concerns and opportunities Advisors face with succession planning.
I’ve been through the succession planning process myself. If you need someone to have a conversation with and talk about your current plan, I’d love to personally chat with you about yours over a virtual coffee!
Schedule a virtual coffee with me using the form on this page.
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Ep49 - There’s More than One Way to Prepare for the Succession of Your Business, with John Novachis
