Cantin Automotive Insider – What Auto Dealers Often Overlook in Succession Planning, and How It Can Affect the Business
Looking forward is easy to do, especially when you’re dreaming of the next step in ramping up your auto dealership business.
To many owners, the idea of succession planning reflects the end since it’s a strategy for a buy-sell, exit, retirement, taxes and what happens to the estate after death. In fact, it should be considered the opposite. Succession planning is just the beginning.
Is Your Perception of “Planning” Getting in the Way of Building Business Value?
For starters, it’s important that you get past the idea that succession planning heralds your immediate retirement or demise.
However, it’s also important to remember that those are only parts of the whole and discussing them does not mean the end is near. It means there’s a viable plan to protect your family and business if the unexpected were to happen.
Preparing a business to transition from one generation to another requires a focus on 10 key areas which we call the Succession Matrix. Click the following link for more drill down resources on The Succession Matrix