Succession Planning - Don't Die Before Selling
Business owners too often wait until the last minute to seriously consider selling their businesses. This is highly unfortunate, as there are a number of business owners that pass or develop serious illnesses before doing anything, thus wiping out the vast majority of any value in the business. This occurs because these owners haven't done any succession planning and thus, they are the business. When they are unavailable, then the business either dies with them or loses 75-99% of its value.
Engaging in succession planning doesn't mean you have to sell right away. The sale could be years off. It does mean that you go through the process of installing structure / infrastructure in your business so that it can ultimately run well without you or with little of your involvement.
Watch this video for an example and insights.
If you want to discuss your business or how to install the infrastructure needed, visit https://theresourcefulceo.com/schedule to schedule a free 20-minute consult.