A Guide to Succession Planning for Business Owners
Generate a strategic guide for founders on how to plan for their eventual exit from the company.
Prompt:
573 characters
Generate a full detail guide on succession planning for small business owners. The guide should be strategic and forward-thinking. It must include detailed sections on: 1. Why succession planning should start years in advance. 2. Different exit options (e.g., selling to a third party, family succession, management buyout). 3. How to identify and develop potential internal successors. 4. The importance of creating a transition plan and documenting processes. 5. Assembling a team of advisors (lawyer, accountant) to guide the process. Please include a strong disclaimer.