Misconception #3 – Succession Planning and Business Growth Aren’t Related
Succession planning is not about you leaving the business; it’s about building a foundation of success today that will set the course for future generations. Your organization may be in ‘growth mode’ so you’ve put succession planning on the back burner. But growth without an eye on the future can be a dangerous thing. Before you make that next deal or continue with your growth plan, you should ask yourself a few vital questions:
- Do I have the full support of my management and leadership?
- Do I have the excess capital and resources that growth requires?
- Do I have the confidence that my successor(s) will be able to manage what I’m building?
The questions surrounding growth can all be answered through the process of succession planning. This will ensure that your growth is done the right way at the right time.
What are the issues impacting the value of your business?
Contact us to schedule a Phase I diagnostic assessment of your business to find out.