1 in 10 Leaders Say Succession Planning Is Not Worth the Time and Money It Costs — Here's Why They're Wrong.
While seemingly straightforward, succession planning for business owners can take several different forms, each with its own set of pros and cons. You need to understand your options when you inevitably sell or pass down your business someday.
It can be tempting to assume the next generation is ready to take over your company and allow you to enjoy your twilight years, but you must ensure they have time to develop skills and realize their identity.
Based on my experience working with and counseling the real-life Logan Roys of the world, here are five lessons the Roy family could benefit from learning.
In honor of National Life Insurance Month, a quick primer on what you should be doing now.
When I took over my father's company after his death, I realized the importance of making smart decisions and not trying to fit into someone else's shoes.
Smart business leaders know they need to have someone in place who can sub in or replace them in case of emergency or opportunity. But sometimes it doesn't look like there's anyone who's appropriate or ready. Here are some things you can do.
Leadership change in a family business is acknowledged to be an extremely intricate procedure and often becomes a balancing act
Numerous business counsellors advise maturing business people to fabricate a leave system directly into their strategy for success
Beware these common mistakes made when passing down a family business.
Michele Ferrero, the leader of the Ferrero Group and the richest person in Italy, died at age 89.