Succession Planning/Business Exit
There comes a point when having grown a successful business you know that it is time to move on, its time for your business exit. You may want to sell your business or just take a less active role, relinquishing the day to day running of the business.
Having the guidance and support of someone who has been through the business exit experience and who can help guide you through the pitfalls, the decision making and keep you focused can make all the difference when it comes to making your business exit a smooth and successful one.
A Business Guru will listen, act as a sounding-board, provide inspiration, draw on their own experience and help avoid mistakes being made. They will challenge and question you while motivating you to make the best decisions for the future of your business. They will help to give you the focus and knowledge to help accelerate your business exit.
It is important to recognise human resources as the key to future success of the organisation and to be able to develop the talent, skills and staff capable of delivering objectives.
Succession candidates should come from any part of the business, so to have a plan that is clear and precise in identifying talent relating to the succession planning, training development, motivation and retention, employee engagement, learning of new skills and performance reviews is vital.
This succession planning process also involves identifying critical roles in the business and having contingency plans in place to ensure business continuity.
Challenges A Business Guru Can Help With:
- Identify successors – systematic process to identify, assess and develop employees, to ensure they are ready to take on key roles. Accelerate talent growth to grow own talent within the company where possible.
- Develop a succession plan aligned to the medium or long-term business strategy supported by senior management to ensure continuity. To look inside as well as outside the organisation to identify and maximise talent.
- Plan and execute the sale of a business – due diligence and negotiations involved in the sale.
Our mentoring packages start from just £500 + Vat per month.
To see how we could help you improve your business performance request your free business audit and talent assessment report.