Successors for Success
When you begin to plan your exit from your business, you might consider separating the ownership decision from the delegation decision. Some business owners put the proverbial cart before the horse and try to sell before they have a potential successor in place.
If you recruit or develop a skilled successor, you will do more than ensure the viability of your business for a successful sale. By spending the energy to leave the company in good hands through the creation of a valuable business asset, you’ll increase the options created for your exit. In the long run, you will have time, and more than likely the money, to enjoy life more fully. You can entertain higher offers on your business due to the additional options you have created, and your staff will appreciate that you took care of the big picture before riding into the sunset.