I often hear business owners referring to succession planning and exit planning as though they’re interchangeable terms. While similar, the differences between a sale, a succession, and an exit are significant. Each one has a different end goal in mind. Understanding the differences and how they work together is critical. That’s why today’s entry is all about succession planning vs. exit planning and how to use each. Follow Along With The Financially Simple Podcast! This week on The Financially Simple Podcast: (1:00) What is Succession Planning? (2:01) The Many Benefits (5:36) When Should You Begin Succession Planning (7:48) Introduction to Exit Planning (9:26) How Exit Planning Benefits Owner and Business (10:41) Facilitating a Sale Without Making an Exit Succession Planning Vs. Exit Planning: What’s the Difference? Despite their overlapping nature, succession planning and exit planning aren’t interchangeable. They each offer great benefits to your business but thinking a succession plan […]
The post Succession Planning vs. Exit Planning: The Difference is Critical appeared first on Financially Simple.
https://financiallysimple.com/succession-planning-vs-exit-planning-the-difference-is-critical/
#financialfreedom #money #entrepreneur #business #finance #investing #financialliteracy #success #investment #wealth #motivation #financialindependence #passiveincome #personalfinance #realestate #stockmarket #debtfree #entrepreneurship #invest #bitcoin #creditrepair #debtfreecommunity #investor #trading #workfromhome #stocks #credit #financialeducation #bhfyp