Know Your Exit Strategy
No More Procrastination
Determining your exit strategy and ultimate succession plan is a challenging endeavor. This is a once-in-a-lifetime decision. It is more difficult for second and third generation businesses. It becomes very complicated and cumbersome for a multigenerational business that has multiple owners.
Recently, I was engaged by a second-generation business to develop an exit strategy and succession plan. The patriarch established the business 40 years ago and about 10 years ago gifted the business to his two sons and daughter. The company is owned equally by three children whose ages are between 45 and 60. ...
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