Episode 427
How Good Succession Planning Improves Your Business - S8 E34
Takeaways
- Succession planning should be a continuous process, not a last-minute decision.
- Every entrepreneur will eventually leave their business, whether by choice or circumstance.
- Planning for an exit can enhance the business's value while the leader is still present.
- Identifying and developing potential successors is crucial for reducing key employee risk.
- Maintaining control while sharing equity can motivate employees and secure the business's future.
📖 Buy "Small Giants: Companies That Choose to Be Great Instead of Big" by Bo Burlingham
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