Seven ways: Succession planning can help to evolve your business

It’s all too common for independent practice owners to be so focused on the day-to-day running of their business that they overlook the practicalities required for growth.

In the early years of starting an independent practice all the energies of the owner are rightly focused on getting the business up and running and making it successful. Thoughts of future succession or exits through sale are not high on the agenda. However, the adage of ‘exit planning starts the day you open your practice’ still holds strong.

The best place to start in terms of succession planning is to create an exit strategy based on ensuring your business can run successfully without you. Here are seven things to consider.