Succession Planning
Succession Planning with an Executive Coach
Every business needs a customized succession plan to help them prepare to place their company for sale or for the owner’s desire to step back. There’s a lot on the line in this situation and the process demands a lot of senior leaders.
A lack of a sufficient succession planning can:
- Prevent a sale on your original timeline
- Create stress inside the company
- Create concerns for potential buyers
- Keep burnt-out founders overly involved because the organization isn’t ready to function without them
Engaging an executive coach to help your organization prepare for a sale can:
- Sustain the Owner’s energy and sanity during this process
- Fill in your knowledge deficits & offer fresh insights
- Expedite the development of senior leaders with you so they’ll be ready to step
up - Resolve internal conflicts among senior leaders
While preparing the organization, Founders often need to create a bridge plan for themselves. They’re forced to find a gradual way of detaching from the responsibilities, personal identity and relationships they have inside the org.
Engaging and executive coach to work with the owner individually will:
- Gift the owner with clarity regarding finding a new purpose and identify
- Show them how to leave their insecurities and any workaholic tendencies behind
- Create clarity on how to maximize fulfillment after the sale
Sabbaticals are a proven way to stress-test the company and the owner. It will often:
- Benefit both the owner and the organization
- Illuminate gaps and deficiencies as well as proficiencies among senior leaders
- Assist owners in creating life outside of the company
Download:
10 Steps to Using a Sabbatical to Test Your Readiness
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