It Is Never Too Early to Start Succession Planning
Succession planning is the process of identifying and developing new leaders who can replace old leaders when they leave, retire or die. Succession planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available, thus allowing for future growth of the company beyond the current owners and leaders.
When you properly plan for the succession of your company, you are able to leave a meaningful legacy, that is easy for the next generation of leaders to manage when you retire, pass on, or cash out, and your investments and efforts will keep supporting the company and your family after you are gone.
As an entrepreneur, providing a legacy for your family just might be the very reason you get out of bed every day, however, time and time again, business owners overlook succession planning.
Our strategies are different at Yamani Law.
To discuss succession planning for your business, schedule a consultation today.