May FOCUS: Succession Planning, A Business Owner's Perspective
Succession planning is at the bottom of the to-do list for most business owners. Between the day-to-day needs, there isn’t much time to think about the future of your company without you. It is important to ask yourself about the future of your business now than when you are ready to step away. Who is your successor? Do you have the right people in place? How are the finances? The truth is, about two-thirds of business owners have not selected a successor for their business and a third has no succession or estate plan in place at all (Family Business Alliance). Preparing your business in advance for the transition of your business to the next generation reaps many rewards.
The benefits of succession planning include:
- Financial and emotional stability during and after the transition
- Retain your company’s legacy
- Identifying and retaining your key employees
- Having an action plan in place for training and development
- Helps you plan for long-term goals of the company
On May 21st and learn how to approach succession planning that secures your company’s legacy from a business owner who has successfully navigated the transition.
Join us on Thursday, May 21st, at 9 a.m. for our free webinar.