#United States #St. Louis #Family Business #Succession Planning #Craig Toberman

Introduction

Craig Toberman, a seasoned financial advisor and partner at Toberman Becker Wealth based in St. Louis, has just released a pivotal resource titled The Five-Year Plan: A Clear Path to Family Business Succession. This book is designed for family business owners who are contemplating retirement or a transition in leadership. It combines extensive industry knowledge with practical steps, making it an essential guide for those looking to navigate the often complex waters of succession planning.

Understanding the Challenges of Succession Planning

Succession planning for family businesses is filled with emotional and logistical challenges. Many founders struggle to let go of their responsibilities and may lack a comprehensive plan for transitioning their business to successors. Craig Toberman’s new book addresses these issues head-on, offering a structured approach that aims to streamline the transition process. With years of experience assisting families in this delicate area, Toberman has synthesized his learnings into a user-friendly format.

What the Book Offers

The Five-Year Plan is organized into chapters that focus on key milestones in the five-year timeline leading up to a successful transition. Each chapter includes actionable checklists that provide a step-by-step guide for addressing essential aspects of succession. Here’s a brief overview of what readers can expect to learn:

• - Financial Planning: How to develop a personal financial plan aligned with retirement goals.
• - Value Enhancement: Strategies to increase the value of a business prior to transitioning.
• - Reducing Conflict: Techniques to minimize confusion and disagreements among family members during the transition period.
• - Successor Selection: Guidance on how to identify the right successor or determine if selling the business is the best option.
• - Life After Exit: Approaches for designing a fulfilling life post-business exit.

The Importance of Preparation

Toberman emphasizes that one of the primary reasons family businesses fail in transitions is the lack of a solid plan. In his book, he advocates for early and proactive preparation, urging business owners to start the succession conversation long before retirement is on the horizon. Proper planning, according to Toberman, not only secures the financial future of both the business and its original owner but also contributes to the long-term success and continuity of the company itself.

Author Background

Craig Toberman comes equipped with numerous accolades and credentials—including CFA, CPA, CFP®, and an MBA. His expertise has made him a trusted partner for family business owners navigating financial complexities. Alongside his partner, Michael Becker, they have cultivated a reputation for blending technical skill with empathetic guidance, essential for addressing the nuanced needs of family business transitions.

Book Availability

The Five-Year Plan: A Clear Path to Family Business Succession is now available through major retailers, including Amazon. This book is not just a manual; it serves as a roadmap toward a successful business exit, ensuring that the legacy of the owners is carried forward in a manner that aligns with their vision.

Conclusion

In a world where family businesses represent a significant portion of the economy, tools like Toberman’s book can make a substantial difference. It delivers more than strategies; it offers peace of mind, guiding family business owners toward a seamless succession. For additional insights into the book and to explore an interview with Craig Toberman, potential readers can visit his website, craigtoberman.com, to learn more about this invaluable resource.