What is Succession Planning? | 809
On this episode, Dave Lorenzo explains what succession planning really means inside a family business—and why most people are doing it wrong. He breaks down how to prepare every role in your business for both short-term backup and long-term succession, from frontline workers to leadership positions.
Key Topics Discussed:
- The real definition of succession planning in a family business
- Why it matters whether you're selling the business or handing it off
- How to build a contingency plan for every position, even the janitor
- The difference between a backup and a successor
- What "80% readiness" means for future role holders
- Leadership development and succession planning in management roles
- How to conduct performance reviews that promote growth and succession
- Why Exit Success Lab’s method creates a lasting competitive advantage
Links and Resources:
- Subscribe via Email: GetInsideBS.com
- Listen on Spotify: Inside BS Show on Spotify
- Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
- Call Us: (305) 692-5531
Call to Action:
Subscribe at GetInsideBS.com to receive Dave's daily email and get your exclusive invitation to the monthly private meeting hosted by Dave Lorenzo and Nicola Gelormino for family business owners and the professionals who serve them.
Subscribe at GetInsideBS.com to receive Dave's daily email and get your exclusive invitation to the monthly private meeting hosted by Dave Lorenzo and Nicola Gelormino for family business owners and the professionals who serve them.