Succession planning is part of every leader
Business asset sales, associate buy-ins, practice transitioning, sweat equity earn-in and leadership development requiring planning, modelling, and outcome prediction.
I’ve been fortunate to sell numerous businesses and proud to say that they still exist today (under new names). It is a testament to the level of smooth operations that were in place at the time of sale and the ability of the new owners to easily assume the leadership. In addition, the per-succession modeling made decisions less emotional.
there are other types of successions too
In addition to out-right sales, there are gradations of succession. Often times, associates are brought into established practices and business in order to create slower-paced transition (perhaps through sweat equity), a practice expansion, or a partnership tract. There are many formats.
areas of focus
Financial modeling
Negotiation review
Planning and other considerations