Risk & Business Magazine CEO/CFO Business Today Magazine Winter 2018 | Page 31

PASSING THE BATON
The third winner is obviously the
customers. The customers and clients have
made a conscious decision that they are
receiving good value or they would have
moved to a competitor long ago. Whether
their loyalty is due to the quality of the
product, the price, or, in the case of a
service business, a trusting relationship,
the customers and clients will only win if
the business remains and retains its key
employees, which can occur with a well-
executed plan.
The fourth winner is one that is often
overlooked as one of the beneficiaries of
a successful, locally owned and operated
business—the community. Local
businesses are the lifeblood of vibrant
communities for a number of reasons. The
tax revenue generated from the business, its
owner, and the employees help fund schools,
social services, and essential government
services and infrastructure. In addition,
many of the sponsorships and charitable
contributions for nonprofit organizations,
events, and sports teams come from
thriving local businesses. And the expertise
of local entrepreneurs and skilled managers
contributes much needed leadership to the
community by providing board members
and volunteers to public boards of directors
and nonprofit committees.
The fifth winner is, of course, the owner.
Owners win by having the satisfaction
that their life’s work will remain a lasting
legacy and continue to yield benefits to
the employees, the customers, and the
community for many years after they have
“passed the baton.”
THE SUCCESSFULLY
EXECUTED AND
PROPERLY FUNDED
PLAN ALSO
PROVIDES FINANCIAL
SECURITY FOR THE
OWNER AND THEIR
FAMILY FOR MANY
YEARS INTO THE
FUTURE .
Our firm has joined forces with Don Cooley,
CPA, a partner at Cotner, Cooley & Clark, to
create a succession planning firm, Summit
Succession Planning, LLC. We will work
with business owners to lay out strategies
and a timetable, address critical tax and
funding concerns, and create a road map to
follow to create a successful succession plan.
We would welcome the opportunity to open
a discussion with you about your plans
because our goal is the same . . . we want to
help you successfully “pass the baton.” +
Mark Snider is owner of Snider, Fuller and Stroh, a benefits firm located in Athens, Ohio. Mark moved to Athens to start his insurance career in
1971. He has been active in his industry, serving as a past president of the Ohio Association of Life Underwriters, a national board member of
the Association of Health Insurance Agents, a life member of the Million Dollar Round Table and Top of the Table, and a board member of the
Hocking Valley Bank.
He has been active in many civic activities and has been a past president or board member of Athens Downtown Kiwanis, O’Bleness Memorial
Hospital, United Appeal, Rural Action, the 317 Board, and Athens Area Chamber of Commerce, twice being named as the Chamber Person of the
Year. In 2010, he was awarded the Ohio University Honorary Alumnus of the Year Award.
Mark is married to Rita and they have five daughters and six grandchildren.
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