Why do you need a succession plan?
Last year, the world was abuzz with commentary around the final season of the popular HBO series, Succession. The show follows the ruthless battle between three siblings as they vie for the position of heir to their father’s media empire.
While this is, of course, a fictional story, one aspect of it can be applied to the real world: the Roy Family could really have benefited from a comprehensive succession plan. While the lack of a solid succession plan makes for great television ratings, it has a far less desirable outcome for you and your business. So, what is a business succession plan, why should you consider it, and what does it involve?
What is a succession plan?
As a business owner, you’ve probably worked tirelessly to create something of value. When the time comes to move on, ho...
