We've talked about Maths and Timing in the last few weeks, now comes the hardest part of a Succession Plan - The People.
Identifying a successor in your business is one thing - negotiating equity sales, role and responsibility changes, ongoing business operations with more than one owner, and allowing time for backup plans. We've seen more than once where the 'right person' has left the business and unforeseen events have stalled the succession plan.
There is more to do than finding the right person - and a lot of communicating to do!
If you'd like to talk about the key people in your business, and how we can help you encourage and incentivise them, whilst planning your own succession, use the button below to contact our office.
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