Succession planning is one of the most important steps you can take for your business, but all too often it gets pushed off or glossed over entirely...This alone highlights why special succession planning is critical
In order to put the proper elements in place for your succession planning, you should be in tune with critical metrics for the business. There are several different factors that you should explore with regard to your succession planning. If you’re an owner of a business, here’s the steps to take before you create and implement a succession plan
The reality is that there are many challenges faced in the process of trying to figure out business succession. The best way to prepare for the future is to set in place a plan that either outlines the transition or makes clear the processes by which that decision emerges
Since it could take several years to put a succession plan in place, here are five key steps to take to ensure you’ve thought about all the details big and small
Although there are certainly trends in business succession, this doesn’t always mean that the general approach is the best one
How you think about your retirement has a big impact on the way you approach succession planning. There are two common misconceptions that business owners might have about retirement, both of which can throw off the purposes of your business succession planning
If you feel overwhelmed or confused by the process of business succession planning, you’re not alone
Business succession planning is difficult to begin with, which is why so many people avoid doing it at all...There are many factors involved in why family business succession planning often takes a backseat
For the most part, your assets will go to your closest relatives under the intestate succession laws of your state. It’s also important that you know which assets don’t go through your will and are not affected by intestate succession laws mentioned above
There’s no doubt that it can be a real challenge for business owners to talk about succession planning. For some, it’s because their drive and entrepreneurial vision contributed so much to the success of the enterprise
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