What makes succession difficult?
Most business owners find succession planning particularly daunting. It is a challenge because few business owners have the necessary, experience, expertise or familiarity. Nevertheless, every owner must decide what to do with the business. Without an effective plan for the succession of the business, it is very likely the business’ value will diminish, or it may even fail altogether.
Statistics show that approximately seventy-five percent of all businesses fail to survive past the first generation and more than eighty-five fail by the third generation.
The Succession Solution provides a practical, straight-forward, and proven system which you can use to continue your business to the next generation, whether your successor is a family member(s), an employee, or a third party. The biggest difference this process has from others is its ability to navigate your step-by-step journey through the successful transfer of your business to the next generation of managers or owners. By following the steps in The Succession Solution, you will ensure your own financial well-being while knowing you have left your business in the hands of competent leaders who will develop and improve your employees and add value to their family’s lives