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There’s an old saying that explains the inherent benefits of succession planning best: If you fail to plan, you plan to fail.
However, when your business is chugging along, and the economy and your financial future looks secure, it can be hard to stop long enough to consider what might happen to your company if you suddenly weren’t there.
The benefit of succession planning is to make sure a company always has the right leaders in place should a change happen quickly. By failing to create an orderly plan for succession, your company may not get a second chance if