The LAST thing on your mind right now is probably Succession Planning. Nobody wants to think about leaving their business, retiring and turning the reigns over to their baby.
All business is personal, but in order to build a thriving business that can work with or without you, you have to take the emotional attachment out of the equation.
Some people will disagree and that's ok. Planning for your successor is something that requires a logical, sensible mindset. Just because you own a company doesn't mean you have to be a slave to it.
Many people who have removed themselves from the company's day to day thrive post-business. They've put capable successors in place and either retired or moved on to other things. In some cases, they still have ownership of their company but they're not breaking their necks every day.
What's your endgame? Have you started planning for the next phase yet? Even if that is 10 years off, you have to start somewhere. In this episode we discuss the fundamentals of succession planning.