Succession Series: The Hidden Time Debt
A successful transition cannot be built in a single season.
Business owners routinely underestimate the exit runway. Transition experts and specialized brokers commonly recommend that a profitable, smooth handoff requires 3-5 years of active preparation.
Why So Long?
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12-24 Months: Time required to find a qualified buyer or structure an intergenerational family transfer.
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24 Months: The timeline needed to decouple daily operations from the primary owner safely.
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12 Months: The time required to clean up financial records and make the most of available tax exemptions.
The risk: CFIB's "Passing the Torch" succession report, released in October 2026, indicates finding a buyer or suitable successor is the biggest challenge (47%) to succession planning. Waiting until health or burnout forces your hand may reduce asset valuations.
Next in the series: The Multi-Million Dollar Tax Gamble
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