Estate planning can be a challenging process for nearly anyone. It forces people to focus directly on their own mortality and determine what should happen to their assets when they pass away. One critical aspect of estate planning - and a reason why the process shouldn't be considered a one-and-done attorney meeting - centers on business succession planning.
You may be starting a new business or looking to expand. You may be a sole proprietor or the CEO of a large corporation.
All businesses, no matter what size they are, face challenges. You often hear a business owner say that employees represent the company's biggest asset.
You may think of a business plan as a tool to attract investors and raise capital.
However, once you put the ideas you have down on paper-chiefly your business goals and how you intend to achieve them-you will be able to see the many parts of your new venture all at once.