In a recent article featured in the Rochester Business Journal, Harter Secrest & Emery partner Dan Collins weighs in on the importance of early succession planning for business owners, highlighting that many neglect this critical process due to the daily demands of running a business. He notes that a key initial step is for owners to clearly define their goals, which often gets overlooked in the hustle of building their companies. Collins stresses that understanding and aligning these goals is essential to developing a successful succession plan, advising that businesses should allow three to five years to create a comprehensive strategy.
To view the article on Rochester Business Journal’s website, click here.