When a family is undertaking a succession planning process, it is often a good time to refresh your business plan and to document your path forward so that all participants have an agreed understanding of where the business is now, where you want it to be in the future and how you are going to get there.The process of building the plan is just as important as the document itself. The activity can be informative, motivating and can help build consensus.Let's have a look at a suggested format to assist in the process. The are many ways to structure the plan and you may want to go to a greater depth or reduce the amount of detail shown below. Either way, the important thing is to undertake the discussion and to clearly document the outcomes.
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