<ul><li>Open conversations about expectations, responsibilities, and long-term goals are important in preparing the next generation for business succession.</li><li>Gradually exposing successors to all aspects of the business, including operations, finances, marketing, and employee management, is crucial.</li><li>Bringing in outside experts, such as advisors specialized in business acquisition services, can add objectivity and experience to the succession process.</li><li>Flexibility in the succession plan, contingency leadership structures, and exploration of funding options can help the business weather uncertainty.</li></ul>

How to Prepare the Next Generation for Business Succession

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