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Is it too late to plan your exit? June 12, 2008

Posted by businessgrowthmastery in Entrepreneurial, Financial Management, Leadership, Vision & Strategy.
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This article could have been titled “What’s going to need to happen to let me maximise the value of my business? 

The simple answer to succession planning is that it is never too early to start to plan. You have probably heard the phrase – “Failure to Plan is a Plan of Failure” – this is never closer to the truth than it is as far as succession planning is concerned.

In all businesses, large and small, the way that they prepare the business for a change in leadership can have a huge impact on the future.

In larger businesses, the management team should be constantly looking to groom the next generation and the scope to do so is greater with more opportunities for mentoring, training and job rotation.

However, in smaller businesses, the risk is even greater and the potential to …

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