Great article from industry expert and consultant Kelli Cruz on how to overcome obstacles when thinking about and creating a succession plan.
Two key points that stand out to me include:
- Create a Strategic vision – not only for the business, but in what the succession partnership would look like. What business opportunities can you take advantage of with the right Generational Partner?
- Replacing the Founder – may require more than one person. For many firms that are at or nearing $100M in Assets, this most certainly means you will require more than one successor. The Generational Partner process is built to create this scale.
Enjoy the article and start brainstorming your business vision.