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Instant Insights / Succession planning: planning your exit

We're in the midst of a once-in-a-generation sea-change in agency ownership. Here are some issues to tackle, and ideas to consider.

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Most business owners dream of either selling their company or passing it onto the next generation. Whatever the plan, the goal is a successful transition for all involved.

Exit planning is the process of an owner obtaining his or her definition of business independence, and this will mean something different to each owner. As with any long-term strategic business planning, the owner will need to consider and establish business and personal goals as part of the planning process.

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