There comes a time in everyone’s life and business to consider moving on. Whether the decision to move on is due to the desire to explore other opportunities, to retire or is the result of other circumstances, it is best to be prepared.
Preparation for the future of your business is often called succession planning. Succession planning has many aspects including financial, staffing, structure, organization and even marketing.
Unfortunately, it is often the case that a small remodeler or other business owner simply closes the doors, leaving with whatever savings they were able to accumulate. Although this decision works for many, it is not always necessary to just walk away. It is possible, no matter where you are in the cycle of your business to plan for its long term continuation.