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“What will I do with my time? I certainly don’t want to end up being the cheery ‘old’ person greeting people in a department store.”
Succession can be difficult. How can you give something away that you do not really want to give away? How do you actively engage in planning for the transfer away of something that has always been so close, so much part of you?
When your business has been a part of your work, personal, social and family life for a long time, there is no denying the fact that it may be difficult to go through all of this. Take heart, there are many others who have exited their businesses successfully by planning for the transition to happen on their own terms and according to a timeline that works for everyone. Even the smoothest exit from the business will require a bit of a heartache, which is normal. However, it cannot be avoided. Does this mean the whole experience has to be unpleasant? No.
Here are a few important things to consider that will be able to help you to walk into this process while still maintaining a measure of control and safety:
For more information as to how you can successfully transition out of your business, contact Eben Louw, CPA, CA at 604.853.9471 or
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