Where's The Best Place To Start Succession Planning?
One businessman at the IGC Show in Chicago last month posed the question to Henry Hutcheson, a family business speaker and consultant. Hutcheson offered a universal first step all businesspeople should take - you included.
September 16, 2011
Henry Hutcheson, a family business speaker and consultant with ReGeneration Partners in Raleigh, N.C., offered a starting point on succession planning for those who attended the Independent Garden Center Show last month in Chicago: tell somebody.
“In my experience, the best place to begin is to simply declare to the family that you are going to begin,” Hutcheson writes at NewsObserver.com.
“Call a family meeting, close the door and simply state that the company and the family need to begin thinking and talking about preparing for the future of the business. Yes, you have opened Pandora's Box, but better you than someone else.”
Hutcheson shares additional succession planning advice in his recent article. Read it here.