Maximizing the Value of Your Business with Pat Renn

Pat Renn is a financial professional who has been cited in ABC, NBC, FOX, and CBS for his work in wealth management. A CERTIFIED FINANCIAL PLANNER™ with over 35 years of financial counseling experience, he is also the president and founder of The Renn Wealth Management Group. Pat once served as president of both the Georgia Society of the Institute of Certified Financial Planners and the Georgia chapter of the International Association for Financial Planning. A published author as well, Pat has written two books, Finding Your Money’s Greater Purpose, and most recently, Your Financial Future and Legacy. He was born in Greece and moved with his family to the U.S. when he was 10 years old. Today Pat resides in metro Atlanta and is married with two sons. In his leisure time, he enjoys traveling, golfing, fly fishing, and wing shooting. Show Notes: In this episode, financial planner and successful small business owner Pat Renn joins our hosts for an informative discussion on succession planning. Pat shares insights on this important process and why many small business owners find it easier to get into business than it is to get out of it. Pat talks about the need to begin planning for your exit sooner rather than later, why many small business owners are choosing to work longer, the role shared values play in his hiring process, and how leaders need to set the pace. Tune in to learn how to maximize the value of your business, how to begin the succession planning process, and a little bit about wing shooting. Episode Highlights: • What Matters to Small Business [0:03:40] • Blind Spots [0:05:10] • The Continuity Plan [0:06:17] • Identifying Your Successor [0:07:39] • The Planning Process [0:09:39] • Current Trends [0:12:19] • Success vs. Failure [0:13:54] • A Collaborative Process [0:17:29] • Role of a Leader [0:20:08] • Rapid Fire [0:21:52] • Contact Information [0:26:31] • Takeaways [0:27:37] • SBM Announcements [0:29:35]