Turning a family-owned business over to the next generation is the biggest financial transaction a business owner will ever make in his or her lifetime—with only one shot at doing it right. I had the chance to see a copy of The Prosperity Playbook: Planning for a Successful Family Business Succession, from leading financial expert Mackey McNeill. It provides family business owners with a proven process for increasing the company’s worth in preparation for selling the business or transitioning it to another member of the family.
Her step-by-step process is somewhat unique in that it works for every business in every phase of its growth—both new businesses and old can benefit from taking an honest look at where they are and where they want to be.
The book is practical, walking business owners through all the important financial decisions that need to be made, and also preparing owners for the emotional journey they will experience throughout this process. The book even touches on retirement plans for after the businesses has changed hands.
About the Author
Mackey McNeill is CEO and President of MACKEY, a Cincinnati-based firm offering family-owned businesses an invaluable and innovative combination of coaching and CFO-level financial expertise to increase their chances of a successful succession. She is the author of several books, including the Gold IPPY award-winning and internationally published book, The Intersection of Joy and Money, and The Dynamics of Money, in addition to the Bronze IPPY award-winning The Prosperity Playbook. She has been quoted as a financial expert in major media, including The Wall Street Journal, The New York Times, Money and USA Today.
McNeill is a CPA/PFS (certified public accountant/personal finance specialist) and an RIA (Registered Investment Advisor). Her affiliations include the American Institute of Certified Public Accountants (AICPA), bcorporation.net, The Goering Center for Family and Private Business, Small Giants Community and Cincinnati Chamber of Commerce.
She lives on 35 acres of pesticide-free land, with vegetable gardens, laying hens and woods for hiking and wild food foraging, and where McNeill enjoys teaching the next generation about the wisdom of nature.
For more information, please visit www.Theprosperityplaybook.com, or follow the author on Twitter (@MackeyMcNeill) or Facebook (Mackey.McNeill).
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