If your goal of succession of your business is your retirement, how do you define retirement?
Retirement in someone’s words was “doing what you want when you want to do it“.
The traditional concept of retirement?!?…picture this, a serene lake with your fishing rod lazily dipping into the still azure surface, a straw hat tipped over one eye, sitting on your dock in your adirondack chair. I think that this picture only exists in a Norman Rockwell painting. No longer, retirement can be very active, just in new and interesting ways that you define.

Now back to succession of your business.
Some key elements for succession you could begin pondering and to do so, you have to free yourself from the “busyness” of your business. Here is one strategy to consider:

Take time…for thought leadership

A few key issues and areas to consider, include:

– a deeper understanding of your business and what makes it successful
– sharing the keys to success of your business with stakeholders
– engaging the next generation, often millenials, and how they may become involved in the enterprise
– understanding the next generation and their motivations
– building an stronger enterprise

This same strategy I have employed myself and some of those with whom I consult. This is simple, and definitely not easy.

Learn, think, apply!