Its easy to say that failing to plan is planning to fail (it is!), but there are other reasons that private enterprises fail at succession planning, or never get started on it in the first place.
Over a wide-ranging lunch discussion with an investment banker yesterday, I got a very familiar answer to the often asked question ‘what is the number one thing you look at when investing in private companies’? Without hesitation the reply was ‘the quality of the management team’.
As we approach the end of another year, many business owners will take stock and focus on their plans for next year. For some this may involve looking towards …
Whilst most business owners acknowledge that succession planning for their business is critical, when we ask them to define what it is and how they might do …