Business Transition Planning and the key components a plan should include are shared by guest Frank Dane of B2B CFO. Discussion includes succession planning for family businesses, IPOs, ESOPs, and preparing a business for sale. Dane explains who should be on your transition team and the role they play. The time frame when an owner or management team should begin the planning process is discussed. Dane discusses the financial items that are planned for and considered when building the value of the company. Suggestions on keeping or eliminating key employees during the planning process are given. The effect on discount factors when company is owned by or influenced by one or few individuals is explained.