Several years ago my grandmother started clearing out her house – spring cleaning on a grand scale. While not cluttered, fifty years of stuff had accumulated and filled the three-story house. Grandma is a realist – at north of 90 she didn’t want to leave her family the burden of sifting through all the things that don’t have much meaning or value. And through that process, she also made sure the legal and banking documents were up to snuff. She was getting her house in order. She knew that at some point her affairs would be transitioned to her family.
The funny thing is – transitions happen all the time, whether in business or in life, but many times very little preparation goes in to making them successful. As a result, businesses that have been built over a lifetime languish after a transition because key elements in making a successful transition were not addressed ahead of time. Is your house in order? Or, is some attention needed? What steps can you take now to make sure your legacy is where you want it to be?