There’s a scourge in the business world and it goes like this: We start a company and accept all of the risk involved because we believe in it. We build an organization that thrives. Then, at least two thirds of the time, the firm goes away when we retire or die.
So many of us never transition our companies to the next generation of leaders — just because we never get around to it.
So starts Scot Hunsaker’s series of columns about preparing a company for succession. As he explains here and in his book, Heroic Ownership, this doesn’t just mean finding a suitable person to take the helm, or even to prepare the whole leadership team. Instead, it means preparing the whole company to adapt to change and run smoothly.
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How to Transition Your Company to the Next Generation of Leaders
In this series, Scot Hunsaker offers tips for succession planning, as seen in his book, "Heroic Ownership."
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To Succeed From One Owner to the Next, Your Swimming Pool/Spa Business Needs a Single Voice
Transferring institutional knowledge from generation to generation must begin with a common vocabulary.
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Preserve Your Legacy by Managing Change
Prepare your company for future leadership by instituting a process for affecting change.
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The Brass Tacks of Transitioning Ownership
In this last installment, expert Scot Hunsaker discusses the logistics of selling to employees.