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Planning a Graceful (and Profitable) Exit from Your Small Business

At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can’t survive without the continued involvement of a key owner-employee. And a few business concepts – from horse-drawn buggies to video rental stores – eventually lose relevance. Here’s an overview of the options

Succession Planning: Splitting Up the Pie

Often, the senior generation of a family business goes through the process of choosing one of its offspring as the successor to lead the company in the future. Usually, the chosen successor is given the title of president or CEO. For a period of time, he or she will work under the supervision of the