Engineering and construction organizations that invest in developing future leaders and building their businesses with multiple paths to owner liquidity are positioning themselves for long-term success.
Most owners continue to be stuck in their business until they can clearly see the path to replace their income and maintain their lifestyles in retirement.
The entire process of exit planning can be bogged down with the technical jargon of accounting, law, tax codes, estate planning, insurance and financial planning.
The purpose of this article is to simply differentiate “exit planning” and “succession” and outline the main points for a CEO to remember when succession planning.