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 Are you the Boss/owner of your own business? Who does the selling in your business?  My guess is that when you’re personally involved in doing the selling, your business is a whole lot more profitable than the months when you leave the selling to others. That makes sense because you’re likely the most passionate advocate for your business. You have the most industry knowledge and the widest network of industry connections. If your goal is to maximize your company’s profit at all costs, you may think that you should spend most of your time out of the office selling and leave the dirty work of operating your businesses to your underlings. However, if your goal is to build a valuable company—one you can sell down the road—you can’t be your company’s number one salesperson. In fact, business transition planning best practices tells us the less you know your customers personally, the more valuable your business. The Proof: A Study of 14,000 Businesses We’ve just finished analyzed our poo

Did you know the ideal timeline for succession planning is 5 years? It is possible though for the unexpected to happen and if/when it does, a  CEO succession planning best practices is to have a game plan i.e. a succession plan  all lined up and ready to go to ensure continued success with your business. Take a look at the CEO Succession Planning  timeline here: THE SUSTAINING PHASE Begin this phase 2-3 years in advance. The executives are preparing to thrive under the new leadership; Right Mindset, Future Outlook, Organization's Sustainability, Updated Strategic Plan, Executive Team Assessment, and Internal Team Candidates. THE TRANSITIONING PHASE Begin this phase 6-12 months before the leadership transition and consider overlapping with the Sustaining Phase. The organization embarks on the executive search process for the successors that may include board members, management team, and executives. Extensive work is done with transition planning. THE ONBOARDING & SUPPORT PHASE