Business Succession Planning – Basic Principles

A Starting Point – Part 2 of 3

Business owners make a multitude of decisions every day, from the mundane to the big picture. Yet many leave their succession planning undone, with often difficult consequences for the business, and their families and communities.

Why do some people avoid the inevitable? Is there anything advisors can do to help them?

This is the second in a three-part series creating a baseline for succession planning discussions (see Business Succession Planning – Understanding Key Drivers and Putting the Pieces Together for parts 1 and 3 of the series). The goal is to give advisors a common framework and reference point for these discussions, so we can all better help individual business owners build their comprehensive succession plans.