After years of hard work, it's time to retire. Several
complex questions come to mind. How do you transition? How do you
choose the right person to take over? What will happen to your
business?
As you plan your departure, you want to be sure that your
successors are just as committed to the sustainability and success
of the company you have spent years building. Succession planning
is forward looking, but it is also a difficult process that
requires time, thought and preparation.
Here are the five most common mistakes business owners make in
planning their departure, and ways to avoid them.
1. Inadequate planning
Careful planning is the key to a successful business transfer.
Since this is a long process that can take two to five years, it is
never too early to start. A strategic plan will increase your
chances of success, reduce uncertainty and keep your business
sustainable. Our experienced professionals can offer you customized
support, informing you of the
