Russ Cook & Associates, PC
view our Practice areas

Business planning? It doesn't have to happen overnight

People who start a business know that it take an incredible amount of work to not only open a business, but to keep it running. Considering how much work it takes to start and maintain a successful business, it is crucial to have in place a plan for your business to continue operating when you exit the company or pass away. 

This type of planning doesn't have to happen all at once, so try not to get overwhelmed. You can start by making some basic decisions that help you establish your goals and set the foundation for your business succession plan.

Sharing your vision

It's not enough to make plans and set objectives for your business and its future; you also need to share that information with your family and key members of your company. This enables them to make decisions that support your vision in the future. Sharing your views and aspirations for your business is a small but critical step toward protecting it.

Identifying successors

Will your children take over operations, or will you have a third party or key employees take over? Deciding whom you want to take over operations is essential in determining how to plan for the future and what you can do now to facilitate continuation of the business.

Establishing process of transition

Transitioning the operation of your business to someone else can be problematic without a plan. When planning for the transition, think about gradual versus immediate changes, as well as what you can do to maintain stability for your clients and employees.

Family business owners across Nashville have a lot to think about when it comes to the future of their company, and there are great challenges with passing a company on. In fact, as noted in this article on family-owned businesses, less than 33 percent of family-owned businesses survive the transition from one generation to the next.

With this in mind, it is crucial that you set your business up for success by creating a succession plan with the help of an experienced attorney. You can start with these basic elements and build on them over time. Putting off this planning altogether can spell disaster for your company, so make the decision to get started before it is too late.

No Comments

Leave a comment
Comment Information

What Our Clients Are Saying About Us

  • “Everyone we came in contact with was wonderful. The staff and Russ treated us like family at all times.”

    - June S.
  • “Being new to the area having moved from out of state, I was searching for an attorney to assist in elder estate planning for my mother. I was referred to Russ Cook & Associates and found the firm as a whole and Russ Cook himself to be very helpful and accommodating to my needs, as well as experienced and very knowledgeable on the matter I was seeking assistance. I would definitely recommend Russ Cook and Associates.”

    - Brad H.
  • “Mr. Cook and his staff were phenomenal to work with on my will. They are extremely professional and friendly and made the process seamless. They go above and beyond!”

    - Amber C.
  • “Russ took the time to answer my questions by email, so that I knew exactly what would take place when I visited his office and his time as well as mine was used efficiently. I appreciated his thoroughness and his professionalism, as well as that of his staff.”

    - JoAnn G.
  • “Overwhelmingly positive experience.”

    - Stephen W.
Email Us For A Response

Schedule An Initial Consultation Today

Contact us today to schedule a consultation by sending us an email or by calling 615-200-9117.
We assist clients throughout the Nashville area.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Brand Contact

5141 Virginia Way
Suite 220
Brentwood, TN 37027

Phone: 615-200-9117
Fax: 615-370-5938
Brentwood Law Office Map

Office Hours:
Monday: 8:00 AM – 4:30 PM
Tuesday: 8:00 AM – 4:30 PM
Wednesday: 8:00 AM – 4:30 PM
Thursday: 8:00 AM – 4:30 PM
Friday: 8:00 AM – 4:30 PM

Summer Hours Office:
8:00 AM - 1:00 PM on Fridays
May 24th Through August 30th

Map Image