Business succession planning is all about identifying the critical positions within your business and taking action to get the right people in those roles.
In order to step out of the day-to-day operations of your business business, it has to be able to run without you. That means you have to have an intentional talent management strategy that recruits and retains great talent, provides employees with growth and advancement opportunities, and proactively trains people to take on new roles and responsibilities.
We’ll help you review your operations and make strategic decisions related to hiring, training and development, and performance management that will enable one or more of the following:
Your business is prepared to
- actively invest in training and promoting talented professionals,
- fill vacancies in key-roles from internal and external talent pools, and
- operate smoothly without you because you no longer occupy an operational role.
Your business can run without you and generate enough net income to
- pay you enough to live the life you want,
- competitively pay the executive(s) needed replace you, and
- create sufficient profit and cash flow to support continued growth.
Your business can be sold and
- run without you without losing value,
- have sufficient resources to support long-term growth, and
- immediately add value to the new owner's portfolio with a clear path to continued/increased profitability.
What This Looks Like
Success doesn't happen in a vacuum - it’s the result of smart decisions, intentional actions, and consistent performance. Our process is about helping you identify, align, and execute the strategies and tactics that allow you to build a business that works for you, not the other way around.
01
Discovery & Defining Success
We start by understanding the current state of your business and your current team; together, we’ll define your criteria for a successful advisory relationship tailored to your talent management and succession planning objectives.
02
Strategy Development
Together, we’ll identify key areas to consistently focus on to align your efforts, create momentum, and produce results. Typically, some work is needed to enhance your talent recruitment and development strategy so it can support succession goals. We’ll define actionable steps at every phase of the process.
03
Action & Execution
We help you make key decisions, set deadlines, and align resources to make it easier for you to achieve your goals. This can include identifying key roles and core skills, updating job descriptions, implementing a new performance review process, and improving training opportunities to proactively prepare people to take on critical roles.
04
Measuring Success
Progress isn’t just about bold moves and big decisions. It’s about taking consistent action. As roadblocks come up (and they will), we’ll adjust accordingly without getting distracted from your goals. Our job, even when we’re not in the room together, is to support you in maintaining focus while evaluating what’s working, engaging subject matter experts as needed, and adjusting your strategy and tactics in response to your new current state. Succession planning is a process for which we can identify measurable goals.
