Infographic: Why succession planning is key to the survival of your business
Friday, December 14, 2018
If you’re a business owner, you know how much planning goes into launching your business: You need to secure funding to cover startup costs and think about how to balance your profits and expenses so you have sufficient cash flow in the years to come. One thing you probably haven’t thought about, though, is developing a succession plan for your business.
What would happen to your business if something happened to you? If you have a succession plan in place, theoretically, it operates seamlessly.
Without a plan, then your business might fall apart in no time. To lean more about the ins and outs of succession planning, Bestow has provided an informative visual below that discusses how to find your business’ successor, and what to include in a succession plan when you want to write your own.
- 8 exercises for strengthening your business writing
- 10 negative employee behaviors that undermine success
- Selling your business? What tenants need to know about their lease
- Writing the letter that gets you more referrals
- 101 bad business buzzwords — and why you should avoid them
- 7 key elements of an effective new employee orientation program
- 9 steps to more concise business writing
- 3 secrets to successful leadership
- School counselors prepare students for 21st-century computational thinking skills
- Remodeling activity expected to slow in third quarter
- 3 things that make it hard to fire someone in any industry
- Is the current market too tough for upscale restaurants?
- How staff debriefing can improve patient outcomes
See your work in future editions
Your content, Your Expertise,
Your Industry Needs YOUR Expert Voice & We've got the platform you needFind Out How