Succession planning shows your employees you care and are committed to being around for the long haul. In addition, the business provides for many families, so engaging in long-term planning and communicating strategic plans is a talent recruitment and retention tool. Employees have certainty about their income’s future and a pathway to grow as the business grows.
Joe shares that he can see it in his managers and how they communicate and motivate their teams. He has customers calling, complimenting his kids and the managers, and doesn’t have much to do with it.
Resources
- Succession Readiness Survey: A 7-minute investment in time will put you in an informed position of opportunities many business owners overlook, impacting business value, growth, lifestyle, and ultimately achieving your vision.
- Contact Us: We can help you with insights and other resources and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business immediately.
For more insight from Joe Chastang of Chastang Ford, check out the next episode in the 10-part series: Didn’t Want to Screw It Up
The Succession Planning Matrix
The Succession Planning Matrix
Many people put off succession planning because they think it means retirement, exit, and the end. However; succession planning is just the beginning. It gives the owner options in terms of what “their next” looks like, whether that be growth, philanthropy, or a new business venture. Our process focuses are addressing 10 key areas of what we call the Succession Matrix.
Click the following link for more drill-down resources on The Succession Matrix, or check out our Facebook post.
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We can help you with insights, other resources, and see if it makes sense to work together. At the very least, in 30 minutes, you may get some ideas you can apply to your business right away.
