Are You Postponing Succession Planning?

Filed in archive Succession Planning on February 26, 2007

Does this sound like your situation?

It's easier for them to keep working every day than to reconcile the often-conflicting views of professional advisers, key managers and employees, family members and chosen successors. Via Why some families postpone the inevitable

Succession Planning Requires Time

It is difficult to look ahead and make a decision to close, sell, or hand over control to a successor. Especially, when you have spent your life building your business.

"Succession planning is a long-term process. It is not a one-time event," says Doug Bruce, director of research for the Canadian Federation of Independent Business. Via Why some families postpone the inevitable

If you approach the entire process as a multi-year effort, you have time to think about how, when, and where you will exit your business. Isn't that a lot better than doing nothing?