Whether you are 30 or 65, the importance of starting the conversation about your agency’s legacy should start now. A lack of long-term planning can affect your day to-day performance and revenue growth.
This article explores the important aspects of your exit and the benefits of early succession planning – recognizing your eventual retirement and your exit timeline, the importance of a proper valuation, external vs internal sales and contingency buy-sell agreements.
“You need to have a written, explicit succession plan in place. Then you need to develop your plan and memorialize it!” – Scott Freiday, InsurBanc Division Director
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