"My experience is that succession planning is more than a business-ownership transition. It includes planning and personnel development across all levels of the business with the future in mind. So my best advice is that leaders need to start now, take the time to think and plan, tell the truth to yourself and others, and spend the money on other people, whether they are employees or outside professional consultants and advisers. It will take all of this and more to build a business that can have continuing success."

—ROBERT L. HAGER, President and CEO | Miller’s Textile Service | ...