Whatever you do, please don’t do nothing.
Building a business is hard work that requires both financial and emotional investments. Don’t let common owner emotions guide your decisions. It might feel uncomfortable to think about the future, and you might think you’ll deal with it later. But too often, later never comes.
That’s probably why more than 70% of all business owners don’t even have a succession plan for when they’re ready to move on. In fact, many of them simply wait too long to build a sellable business and are forced to exit with disappointment or just close up shop. They never fully reap the benefits of all the hard work they’ve put in.