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Succession Planning 101

  1. […] consider selling your business. Or, perhaps, selling your event planning business is part of your business exit strategy. After selling my 10-year-old successful event planning business last year, here are my top tips […]

  2. I am so glad you wrote this post, Debbie. I completely appreciate your approach to this topic – especially as a person who burned out from a wedding planning business without an exit strategy. I admire your planning and foresight; with a plan, you will achieve the goal in mind.
    Based on what I learned from my past experience as well from business coaches, I now have a much more focused business path for my newer business, Splendor. I am working towards my Business Maturity Date (BMD)* of January 25, 2015. The BMD is defined as the day that one can walk away from the business and it makes money and functions without the owner’s everyday involvement. When I set that date, I knew I was being aggressive. However, I went overseas for two weeks last year and no one from my team needed me the whole time. In fact, they wondered why I kept checking in. The business kept growing, orders were fulfilled and customers were happy. Yay!
    I look forward to watching your businesses grow and flourish and more importantly to celebrate those successes with you. The event community is fortunate to have you as a leader and mentor. Hugs!

    *coined by Chuck Blakeman of Crankset Group

    • Nil, thank you so much for sharing your experience and the BMD. I love that you have a date when your business runs on its own – that is fantastic! This post was a guest post from another planner (Kelly from Sage Wedding Pros) so it’s not my personal plan but I love what she says and what she wants to do with her planning biz.

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