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Ep. 22 - How Do I Choose a Successor for My Business?
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
View all episodes
By Growth Team StrategiesOn 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