Business Succession Planning...
As a general definition, succession planning is the process of preparing to hand over control. Specifically, business succession planning is the process of preparing to hand over control of the business to others in a way that is the least disruptive to the business's operations and value.
This last clause of this succession planning definition is the reason why having a formal, written succession plan is so important.
To be successful, business succession planning should be started as early as possible. Five years in advance is good, but ten years in advance is even better when it comes to preparing a smooth transition.
Business Succession Planning - More Info-->
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Leadership Succession Client Comments...
"We started as a small family business and over th past few years have sucessfully managed to expand beyond that to employing others. We had no experience what-so-ever of sucession planning etc, we didn't need it. Fortunatly we found Copernicus Consulting who have helped us sort out the sucession and see a clear road for all our seniour staff. This has ensured we keep hold of them as they can see how their careers are going to develop"
Owner,
Haulage firm
"We always found when looking at the career development of our seniour managers that we all had our favorites and our individual baises affected our choices. When we got Copernicusl involved in our Sucession planning process, thewy brought an independent eye to things and to be honest some of the results were not as we would have expected. So far tho, i have to say they have been spot on."
Head Office HR Director,
Retail Business
"The Mckenzie law firm enjoyed a period of significant growth in the early nineties which saw them progress from being a small practice with only 8 staff to a Law firm which employed over 50 full time lawyers across 3 nationwide offices. Daniel Mckenzie, the founding partner and main deal maker, set himself a goal to retire from the business in 5 years time and approached Copernicus to establish a succession plan for his business."
Director,
McKenzie Group Practice
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