You’re not alone if you inherited the family business with no formal succession plan in place. About 64 percent of family companies don’t have a written succession plan, while another 19 percent have one “in progress.” Use these tips to find your footing after you’ve suddenly inherited the family business.
What's striking about the history of business plans is how little has changed. Sure, the medium we use has changed over the centuries, but the end result – having a written plan that demonstrates to the business owner and possible investors how to make a profit – has remained consistent.
When trying to settle on the business idea that’s right for you, there are four key questions to ask yourself. Read more