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Reviewed by Faridah Nassozi for Readers' Favorite
As a business owner, exiting your business and handing over the reins to the next person is one of the hardest things you will ever have to do. It does not matter whether you are selling the business or simply retiring. It will still not be easy. However, with the right planning, you can ensure that you are prepared both emotionally and financially for this inevitable change. In Straight Talk About Planning Your Succession: A Primer for CEOs, Abby Donnelly provides a practical guide on how to ensure a successful exit and succession process. The aim of the book is to help you make sure that the business is ready for the transition, the people you are leaving in charge are ready to carry on without you, and most importantly that you are ready to exit - that you have a good plan for your life after the exit and you are emotionally ready for this big change.
Exit and succession planning is not something you can do at the last minute. For the sake of both the business and yourself, you need to start planning as early as possible. Getting used to the idea that one day you will leave the business for someone else to run prepares you mentally so that when it finally happens, it's easier to deal with. Abby is drawing from her more than 15 years of experience working with small to medium size business owners to guide you on this inevitable journey. Straight Talk About Planning Your Succession: A Primer for CEOs, by Abby Donnelly, is a must-read for business owners and senior management. Knowing that you left the business in good hands will give you the peace of mind to enjoy your retirement or whatever your next step is after exit. The book is not just about making sure everything is in place for the business to survive your exit, but it also covers the very important part of making sure that you too are ready. This is the part that is often ignored by most succession and exit planning manuals.