The Beringer Group Answers, “How will the succession plan impact key stakeholders, such as employees, clients, and shareholders?”
Question #5 of the 6 Key Questions to Ask When Planning for Succession
Considering how your succession plan will affect key stakeholders is essential to creating a smooth process. In one way or another, your employees, clients, and shareholders have all helped the company reach success. Failing to consult them will result in a faulty plan. An effective succession plan incorporates all members of your business and gives each member the opportunity to share their opinion. This will create a cohesive and transparent plan everyone can stand behind.
Now that you understand the basics you are probably asking yourself the most important question…
Click here to find out more.
Many business owners are blinded by the illusion that “If my business is successful now, it always will be.” When business owners allow this illusion to cloud their judgment, they are only hurting themselves in the long run. Although your business may be thriving presently, have you considered the future? What about retirement age? Is potential competition outperforming you? Are technological advancements surpassing your capabilities? Questions like these demonstrate the importance of starting succession planning now.
The Beringer Group, one of AHTD’s newest Strategic Business Partners, is dedicated to ensuring you and your business are prepared for any challenges that come your way. As a new monthly series, the Beringer Group will guide AHTD’s members through the 6 Key Questions to Ask Yourself When Succession Planning.
Check next month's AHTD newsletter for Question #6
If you can't wait reach out to us, we would be happy to have a conversation.
theberingergroup.com
Considering how your succession plan will affect key stakeholders is essential to creating a smooth process. In one way or another, your employees, clients, and shareholders have all helped the company reach success. Failing to consult them will result in a faulty plan. An effective succession plan incorporates all members of your business and gives each member the opportunity to share their opinion. This will create a cohesive and transparent plan everyone can stand behind.
Now that you understand the basics you are probably asking yourself the most important question…
Click here to find out more.
Many business owners are blinded by the illusion that “If my business is successful now, it always will be.” When business owners allow this illusion to cloud their judgment, they are only hurting themselves in the long run. Although your business may be thriving presently, have you considered the future? What about retirement age? Is potential competition outperforming you? Are technological advancements surpassing your capabilities? Questions like these demonstrate the importance of starting succession planning now.
The Beringer Group, one of AHTD’s newest Strategic Business Partners, is dedicated to ensuring you and your business are prepared for any challenges that come your way. As a new monthly series, the Beringer Group will guide AHTD’s members through the 6 Key Questions to Ask Yourself When Succession Planning.
Check next month's AHTD newsletter for Question #6
If you can't wait reach out to us, we would be happy to have a conversation.
theberingergroup.com