What will happen to your business when you're gone?

04/30/2013 | TED Magazine

There are a number of strategies for planning a succession at your electrical distributor, and they all have pros and cons, writes Randy Kuchenmeister of Electrical Distributor Consulting. For example, finding a large company to purchase your business provides "the absolute best chance to get paid for your hard work and investment," but this is not always a realistic option, he writes. Other potential strategies include passing the business on to your children or finding a competitor that is interested in a merger.

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