This is the age old issue amongst family members that can tear a family apart. It can start with Thanksgiving, carving out the perceived “best” pieces of the turkey and giving which child gets the best pieces. Is the allocation based on age, entitlement or engagement? A couple of key decision where this issue may […]
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Momentum is a great force that takes on a life of its own. You just have to start with your succession plan sometime, why not now? We are all great at running our day to day businesses and the decisions that are necessary to make it function and hopefully make the company and business great. […]
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I heard a disturbing tale about the meteoric rise of a consultant. His assignments took him worldwide and he met some of the most prestigious executives in his work. His life sounded glamorous and fulfilling, a life worthy of envy. He was found dead in his hotel room recently on one of his business trips […]
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As I have stated earlier, planning is essential to the degree of success that will be realized in your succession plan. However, the key to succession is that it is a journey of listening and communication. And a succession plan may be altered, with course corrections throughout the journey. Thus follow the adage: READY, FIRE, […]
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This is often the most challenging part of a succession plan, letting go of control of your company. You cannot be everything to everybody and always be at the helm of your business. With many entrepreneurs, having made all the decisions previously and being responsible for those decisions has been a burden but also becomes […]
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