Why Business Succession Planning Should Start Five Years Before You Need It Picture two owners, both sixty-two. One has a documented plan, a trained second-in-command, and a clear idea of what the company is worth. The other has a vague intention to “deal with it eventually.” Then a health scare hits both of them in the same month.
Same age. Wildly different outcomes.
Five Years Sounds Excessive. It Isn’t.
Value takes time to build, and it takes even...