Succession planning is not about you leaving the business; it’s about building a foundation of success today that will provide the opportunity for future generations. Before making the next purchase or striking the next deal to grow your organization, you should ask yourself the following 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 successors could manage what I’m building in my absence?
The questions surrounding growth can all be answered through succession planning to ensure your growing in the right direction.