This step allows entrepreneurs to prepare themselves on a personal level and prepare their business for a possible transfer, sale, merger or acquisition. Taking into account the evolution of the market, the current situation of the company and its future projections, this stage makes it possible to plan the organizational structure and the activities of the company, so as to reach the level of yield sought and obtain the targeted selling price.
Preparing for succession helps to plan for retirement while planning the future of the business. This initiative demonstrates the company’s potential for sustainability and keeps good terms with employees, customers and suppliers. Ideal for entrepreneurs who want to transfer their business to family members or key employees in the company.