Succession Planning: The Right Timing

When Should You Start?

Experts recommend starting succession planning 5-10 years before the planned handover. This may sound early, but the time is needed for important steps: finding a successor, training, tax optimization, and emotional preparation.

The Three Succession Options

• Family-internal succession: Transfer to children or relatives
• Management buy-out (MBO): Sale to existing management or employees
• External sale: Sale to third parties, competitors, or investors

The Succession Process in 6 Steps

• 1. Self-reflection: What do you want? When? What role afterward?
• 2. Business valuation: Determine realistic market value
• 3. Successor search: Internal, external, or family?
• 4. Training: Knowledge transfer and gradual takeover
• 5. Legal and tax structuring: Contracts and optimization
• 6. Handover and support: Clean handover with transition phase

Avoiding Common Mistakes

Starting too late, unrealistic price expectations, lacking separation between company and private life, and insufficient emotional preparation are the most common stumbling blocks. Get professional support – from consultants, tax experts, and lawyers.

Succession is your legacy. Invest the time to do it right.