Starting or running your own small business involves a great deal of hard work, commitment and the ability to understand a great deal of information. The initial catalyst to being a business owner is usually predicated around being a believer in a certain product or a trend that you think can be addressed or an opportunity to be your own boss.
As we all know, small businesses face a number of challenges not experienced by larger firms. One of the most pressing challenges is that of succession planning, especially when no internal candidate is readily available. Unfortunately, what I sometimes see is a business owner staying at the helm of their business until their health begins to suffer. When that happens, the health of business also begins to suffer, often resulting in a good, viable business being destroyed by lack of planning.
