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Succession Readiness Report: Conclusion

Succession Readiness Report: Conclusion

Synopsis
3 Minute Read

Bridging the distance between thinking and action is key to building a successful succession plan.

National Leader, Family Office Services

Bridging the gap between thinking and action

When you think about exiting your business, what do you see? Are you in your dream home? Conjuring up your next career? Watching the next generation take over?

You might be dreaming of your next chapter, but are you ready?

Succession planning is critical, but often overlooked. Our analysis shows that Canadian business owners understand what it takes to exit their businesses. Still, many aren’t ready to successfully move on.

There’s a clear gap between knowing what needs to be done and taking action.

For many, exiting their business is the biggest transaction of their lives, with financial and human implications. It’s a journey that takes years, not weeks or months. Rushing the process can put the value of your business at risk and make it harder to find the right buyer.

Here are four takeaways for successful transition planning:

Remember, succession is a marathon, not a sprint. By taking adequate time to plan, you can secure the future of your business, protect its value, and deliver a seamless transition for everyone involved.

Curious how your succession planning stacks up against other business owners? Take our free ExitSMART™ assessment today.

Learn more

Change is a complex process, but it’s not one you have to go through alone. Our team of transition management professionals can help you successfully plan a transition that protects the future of your business and your family.

To learn more about this report or transition planning, reach out to Kerry Smith, National Leader, Family Office Services, at [email protected].

Kerry Smith , CPA, CA, TEP

National Leader, Family Office Services

778-374-2189

1-877-688-8408

[email protected]

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