Succession Planning - Delaying the inevitable?

By Ian Hewitt – Founder, Momentum Business Advisory’s

A number of recent studies have identified that in the next 10 years:

- Over 30% of family business plan to sell
- Nearly 50% of CEOs are planning to retire
- Over 70% of companies have not identified their next MD/CEO
- And less than 15% have a documented succession plan.

The results of the studies speak for themselves – business owners and stakeholders are delaying the inevitable by not properly planning for the future.

Succession planning is a process, not an event. Whether the chosen exit strategy is a sale or transfer within the family, it takes time, effort and planning to ensure an orderly transition that maximizes the return.

Business owners owe it to themselves, their families and their employees to put into place a robust plan for the future.

Family Business Tools
As a business advisor I believe I have a responsibility to provide my clients with the tools and processes that will provide a new perspective and help plan for the future. My approach is to give my clients’ new ways of thinking about existing situations so that they can arrive at exciting new outcomes.

One Page Plan
Whether you are developing your succession plan, a plan for the development of future leaders, or your personal plan, the One Page Plan format will bring it all together for you in a clear, action driven document.