Does your company’s transition plan account for the unexpected? Do you have a plan? According to the Exit Planning Institute, 66% of business owners set to retire in the next five years are not familiar with all exit options, 78% have no formal transition team, 83% no written transition plan, and 49% no plan at all. Perhaps the most startling—50 percent of exits are not voluntary.
So what’s your plan—for you, your partners, your company, and family—should the unexpected happen?
Common Reasons for Not Developing a Contingency Plan
You DO NOT know whereRead more