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succession planning

Maximise the value of your business, enabling you to better assist your future financial needs

Sucession planning is maybe not something we all wish to do.  But it’s inevitable if you own a business, that one day you will need to consider moving on. Whether you decide to sell up, retire or need to get out due to poor health, it’s important that your business has a plan for that day.

A succession, or exit, plan pre-emptively identifies the path and next leaders of an organisation when the current leader wants or needs to move on.

A good succession plan enables a smooth transition with less likelihood of disruption to operations and staff morale. By planning your exit well in advance you can maximise the value of your business enabling it to better assist your future financial needs and leave the business in a strong competitive position.

Working with me I’ll ensure your succession plan is real and attainable. We’ll set a realistic timetable and measurable milestones along the way and we’ll stick to them.

The 7 Stages I will take you through to ensure your succession plan is sound

  1. Identify the void and design the organisational structure and roles for succession.
  2. Gain a clear understanding of the skill and capabilities required to assume those roles.
  3. Identify, via a string of programs, the current team members who could potentially develop the skill of perform such roles. Structure a training and mentoring schedule to fast track the required knowledge.
    —OR: If you’re unable to identify a potential candidate
  4. Develop a recruitment plan and implement strategy to find the right candidate.
  5. Start mentoring process and implement training schedule.
  6. Meet regularly with mentoree/s to ensure their up skilling is on track and the plan is on schedule.
  7. Create a board of management (if not already in place) and meet monthly to ensure financial, sales, operations and HR kpi’s are being meet.
image of businessman and his son

It might appear complicated or even arduous but the step by step procedure makes it very simple. Being honest, if it does look a little confronting then that’s probably more reason to get in contact. Agree? Then click here.

Brett Burden

KEITH'S VISION

"Through the support and growth of Melbourne Businesses my goal is to create more employment opportunities, thereby creating stronger businesses, a better economy and prosperity for all!"

Keith Collins - Business Coach Melbourne

To learn more about Keith and his Business Coaching firm 'The Action Centre Click Here
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