When it comes to preparing a succession plan, it’s probably not at the top of the typical entrepreneur or business owner’s to-do list. Preparing for the next generation of leadership and putting a succession plan in place takes time, planning and thoughtful execution.
Related: Now Is the Time to Think About Your Small-Business Succession Plan
As business leaders and executives, we are typically inundated with the task of the day or the week, so the long-term process of preparing a succession plan often gets pushed to the bottom of the list. In fact, according to a recent survey done by Nationwide, three out of five small businesses do not have a succession plan in place. However, preparing for the transition of leadership is a crucial el…
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