It’s time to wrap this up.  We’ve covered five questions to ask yourself about succession planning and now it’s time for #6.  This one is more about you personally.  All the dialogue so far has been about the management transition.  But what about the ownership transition?  Ask yourself:  Are your estate-planning goals in line with … Read more

We’ve spent the past few weeks discussing whom will succeed you and how they’ll be prepared.  We’ve discussed communication and the importance of putting dates on your plan.  All of those things work together to get you and your business through the succession process.  But what about you?  Ask yourself this:  What is your role … Read more

So you’ve chosen a successor, you’re preparing them to lead the business and you’ve told everyone what you’re doing.  Now it’s just a matter of executing the plan right?  Yes, for the most part.  But there’s another important thing to remember about the plan.  It seems simple, but lots of people forget all about it … Read more

Last week, we tossed around ideas on preparing your successor.  There are so many people and things they need to know.  You need to have a detailed, written plan that shows how everything is going to be transitioned and how things are going to work when you’re gone. Let’s talk about another reason a detailed, written plan is important … Read more