How do we develop succession planning?
If there is a core leadership team, it can start with a workshop session or if there is a sole owner, it can start with the owner making some decisions with his strategic advisor or business succession lawyer . Developing a succession plan is one of the most important steps your small business will take. It ensures that your business will not only survive but also thrive when its founding members are no longer part of the team. A succession plan is not something you can do in just one day. It takes a lot of hard work, dedication, and commitment from all involved parties to create something that will keep your company running smoothly for years to come. You would need to know: - What is the responsibility of the next generation? - How does this fit into your overall business plan? When you are ready to put your business succession plan into ...