Succession Planning – how will you exit your business?

Monday, October 25, 2010 7:17
Posted in category Business Discussion

You probably love your business and have worked so hard to build it, but you can’t do it forever.

  • Have you planned how you will exit?
  • If so, what considerations must be made?
  • Have you researched the financial, legal, tax, HR etc implications of your strategy?
  • How far out do you need to implement the exit strategies?
  • Will it be a gradual process?
  • Do you have a contingency plan should your “Plan A” fall over?

Whether you are just starting out in your own business or looking towards retirement in a few years, succession planning is of
paramount importance in any business.

Stephen Covey’s Habit #2: Begin with the end in mind

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