Every business owner has a big dream for their company and wants to make it happen. Yet in many businesses, too little of that work goes into determining who will take over when the founder leaves the stage. 

Only one in four private companies say they have a formal succession plan in place. Many CEOs are too caught up in the challenges of the present and fail to do the work of succession planning. Working without a succession plan can invite disruption, uncertainty, and conflict.  For companies that are family-owned, the issue of succession introduces deeply emotional issues and may widen the circle of stakeholders to non-family members. I have several clients working through these issues right now.   

Take John for example. John made it through the Great Recession of 2009, barely. His company lost money in 2009, but was able to cut expenses, increase revenue, and became profitable the following year. We started working with him on strategies to increase revenue and eliminate mistakes in his sales cycle and shorten cycle times. He has successfully tripled his revenue in the past 10 years and increased his net profit by 400% in the past 5 years.

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