Sucession Planning: The Benefits May Come Sooner Than You Think

In today’s highly competitive self-storage marketplace, companies that actively cultivate the next generation of leadership enjoy a business advantage. Every company needs a good succession plan, it is critical to ensure the protection of the company’s future for the investors, employees, and with regard to partnerships and family owned firms, for its successor-owners, too.

Real estate companies unfortunately are often very short-lived compared to other industries. More often than not, the leadership is not prepared for succession and the company doesn’t survive past that first generation. In particular, small firms that do not have a succession plan in place are putting so much at risk by not being ready. Succession plans aren’t just for the untimely death we all think about, but…

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