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.
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