A lot of self-employed individuals never give a thought to succession or sale of their business. Often sacrificing resources, personal relationships and health to grow a successful consultancy or practice, the end of the business arrives with little fan fare and, unfortunately, often without their families by their side. It doesn’t have to be this way! I’m using a parent – child analogy to illustrate the 7 keys. Even if you are not a parent, at one time in your life, you had parents or caregivers who looked after you and raised you until you become 18. The “coming of age” is a similar process to starting up a business and growing it to the point of “18” – with grown up responsibilities. 7 Keys for Succession or Sale: Prepare for the experience from day 1. Keeping in mind that one day you will not be around, you have a vested…
