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Succession Starter Questions

Begin succession thinking early, even if exit is years away.

Exit horizon

1-3 years3-7 years7+ yearsNot sure

Successor options

Internal (employee or partner)Family memberPartner or co-ownerExternal saleNot sure

Starter questions checklist

Have you identified a preferred exit timeline (even a range)?Do you have a potential successor in mind?What would happen to the business if you were unavailable for 30 days?Have you discussed succession with your family or partners?Do you have a buy-sell agreement in place?Have you thought about how you would be compensated in a transition?Are there any partners or co-owners involved in succession decisions?Have you consulted with a CPA or attorney about succession planning?What would trigger a succession event (retirement, disability, sale)?Do you have key person insurance or business continuity protection?

Notes (optional)

Additional thoughts or questions:

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