Succession Planning
Is it time for you to consider succession planning? We’ve compiled a comprehensive guide to help you understand the importance of a succession plan and how to get started. What is a Succession Plan? A succession plan is your business’s roadmap for the future once you step away. Business owners decide to exit their businesses […]
Read MoreIn business ownership, two fundamental plans occasionally get confused: the succession plan and the business continuity plan. Both are crucial for a business’s sustained success, yet they serve different purposes and address distinct aspects of business management. Here, I discuss the importance of planning for business continuity to secure the future of your business. Understanding […]
Read MoreSuccession planning is critical to ensuring your business’s long-term viability and success. It involves identifying and developing future leaders who can seamlessly transition into key roles when current leaders retire or move on. This proactive approach not only safeguards the continuity of operations but also nurtures talent, fosters growth, and maintains stability within the company. […]
Read MoreStaying competitive and achieving sustainable growth is a constant challenge. That’s where the Entrepreneurial Operating System (EOS) comes into play. EOS is a comprehensive management framework designed to help businesses streamline their operations, enhance productivity, and foster a culture of success. This system is a game-changer for entrepreneurs and business leaders looking to take their […]
Read MoreDoes a small business need a succession plan? Absolutely! Many business owners are caught up in the day-to-day operations of their businesses and devote very little time to thinking about the future. Mary C. Kelly and Meridith E. Powell in their book Who Comes Next? state that, “Continuously operating in crisis mode can make organizations […]
Read MoreEvery business owner and general manager should be developing their succession plan, not just for themselves but for the other roles that
Read MoreFamily business succession planning is an important part of many businesses. Research indicates that family businesses typically outperform non-family businesses. When families are able to work together effectively the outcome is significant. However, many family businesses are unable to make the transition from the first generation to the second generation successfully. And very few family […]
Read MoreEvery business owner WILL exit their business one day. The question is, will you be proactive, or will you wait and just be reactive to the events of life that “force” you to exit? While you may not be planning to exit the business any time soon, I strongly recommend that you start putting your […]
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