• Ep. 22 - How Do I Choose a Successor for My Business?

  • May 27 2024
  • Length: 16 mins
  • Podcast

Ep. 22 - How Do I Choose a Successor for My Business? By cover art

Ep. 22 - How Do I Choose a Successor for My Business?

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  • Summary

  • On this episode of Selling the Dream, business coaches Doug Howard and Kathi Fleck discuss succession planning for business owners—emphasizing the benefits of determining a successor early and how to select a successor when there are several candidates.

    The episode explores the importance of:

    • Clear communication with potential successors about their roles and the company's expectations

    • Using objective assessments to evaluate potential successors' strengths and weaknesses

    • Creating a development plan for potential successors to help them acquire the skills and experience they need to lead the company

    • Not making someone a leader if they are not suited for the role or if they are not taking the initiative to develop their skills

    • Having a single leader in the organization, even if there are multiple people involved in the ownership or management of the business

    Learn more about Growth Teams at www.growthteams.com
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