We don’t always like to think too far ahead. Long term business growth strategies might not be a priority, nor might it be something we particularly enjoy thinking about, but certain outcomes are inevitable in everyone’s life. In short, you won’t run your business forever.
In the world of business, it is always wise to have a plan. Be it for one, five, or even ten years, you want to know that no surprises will disrupt your company. Such business continuity is very important, and it will continue to be important when your company is no longer yours to run. As a business owner, do you know what would happen to your business if something were to happen to you? Would your business be equipped to respond if you were out of the picture for a few weeks? A few months? Indefinitely? The value of succession planning cannot be overstated. Continue reading to see why it’s so important.