Arkansas Business invited us to talk about succession planning, the mistakes people make and the risks associated with failing to do it.
If you subscribe to Arkansas Business, you can read the article at this link: https://www.arkansasbusiness.com/article/122145/alese-stroud-on-why-succession-plans-dont-have-to-be-a-hard-act-to-follow
The biggest and most common mistake is to pretend your exit is not going to happen. We are told that less than 7% of exiting business owners ever discuss their exit plans with anyone - not even their spouse. So you can imagine how little they have done in the way of succession planning. We recommend that you NOT be part of that statistic!