October 19, 2022 | 10:15AM - 12:15PM
The truth is that everyone exits their business at some point, whether by choice or through circumstance. Alarmingly, it's estimated that 55% of business exits are unplanned in timing due to extenuating circumstances. The question is not if we will exit; rather, the questions are when, how, and whether our exit will achieve the objectives we desire. The concept of legacy as a business planning tool is a timeless principle that, if planned and executed well, can result in a successful leadership transition that preserves the integrity of one's business into the future and ultimately their legacy. This course presents three overarching methods to consider when approaching exit planning (i.e. family succession, internal sales or transfers, and third-party sales) and identifies resources available to facilitate each.
Wallace is a native of Wilmington, N.C. and a graduate of the University of North Carolina at Chapel Hill. A N.C. licensed general contractor, he was a builder and developer in the Research Triangle Area of North Carolina for 12 years. During the 1990s, Wallace served the housing industry as Regional Director for the National Association of Home Builders, Executive Director for the Home Builders Association of Mid-Florida and President of the Triangle Community Coalition. West is currently a principal in Coastal Carolina Streetscapes, LLC. He is a certified instructor for the NAHB University of Housing and an instructor for the North Carolina Builder Institute.