Letting go of the reins

Some years ago somebody said to me "Everything has a natural life, it is important to realise when the natural life is over and move on." This is true of everything; but is especially true for owners of small businesses. When you have given a large part of your life to a business it is quite understandable that you are reluctant to let go of the reins and retire. However, failure to recognise the fact that the time has come for a business owner to step down and hand over the business can be a very damaging mistake. People who go on too long running businesses become ineffective; they ar...