Economic Developers

What will you as economic developers gain by supporting the program?

• Increase your knowledge and capabilities to support community business owners in their succession planning

• Access to the resources to to support owner transitions.

What will business owners gain by participating?

• Build knowledge and ability to strengthen their businesses in preparation for a succession event.

• Learn about resources in their community and how to leverage them.

• Draft a formal, written succession plan that addresses and supports their most important business succession, personal wealth, and legacy desires and needs.

• Engage in an on-line learning community featuring five bi-monthly sessions including one 120-minute kickoff session and four 90-minute sessions to enhance their succession planning knowledge

• In the alternating five weeks, business owner participants will meet in-person in their community with local economic development facilitators and other local resources to apply their learning.

What is your commitment?

• This program is 10 weeks in length and will run from March-May 2020. Plan to

Week 1: Overview of the program and Getting Ready to Transition (online, 120 minutes)

Week 2: In-person work session in your community (estimated 60 minutes)

Week 3: Owner readiness (online, 90 minutes)

Week 4: In-person work session in your community (estimated 60 minutes)

Week 5: Business Readiness (online, 90 minutes)

Week 6: In-person work session in your community (estimated 60 minutes)

Week 7: Understanding Market and Business Forces (online, 90 minutes)

Week 8: In-person work session in your community (estimated 60 minutes)

Week 9: Bringing it All Together - The Plan (online, 90 minutes)

Week 10: In-person work session in your community (estimated 60 minutes)

* Beyond week 10, VisionOne staff will be available for consultation with individual firms.

• Participate in the five online sessions.

• Assist the business owners participating from your community in completing the coursework for the five on-line learning sessions by hosting in-person meetings with participants and local resources as available.

• Participate in project team calls with other community leads, Extension, and VisionOne to provide ongoing input and prepare for in-person sessions.

What is the cost?

• Because of a grant from the Southern Minnesota Initiative Foundation, the cost to participating business owners is just $100.00 for the full 10-week course.

Other details:

• You will have access to an online learning platform that will include participant discussion boards, course materials, and supplemental items.