• Skirt Roadblocks to Succession Planning

     

    http://www.entrepreneur.com/article/241525Over the next five to 10 years, scores of small businesses will be sold or closed. If you have not identified your successor (internally or externally) at least three years before you want to exit, you’re at risk of not being able to retire at the age you had wished.

    I often find entrepreneurs who continually delay the planning process because their business is doing well. It takes a crisis, a loss of key customers or a needed capital infusion to set the wheels in motion. Don’t wait for a crisis. Here are three potential succession problem areas to avoid: Read more…