ARTICLE
As a business owner, you understand that ultimately you may face the challenge that your role as a leader at your company will one day end. This can be difficult, especially if your business is family owned and operated. Or, you may have already experienced this kind of transition through an illness, death, sale, or the business being passed down through generations. If you are planning to pass your business to family, it is important to discuss it with them openly and honestly. Planning for the next generation can be challenging, but the cost of not facing this question may be substantial, both financially and personally. Investing the time now to ensure a successful transition can be impactful for the new owner, and it will show your employees that there is a bright future for the next generation of the business. Read On