Transition through succession while sustaining growth
Decision Associates offers a proven, structured process to ensure successful business owner succession to family, employees or other successors.
Our succession planning consultants have extensive experience helping business owners efficiently transition through a succession while sustaining company growth. What’s more, we have identified the key steps for a successful succession as well as the primary reasons successions fail.
Decision Associates’ business owner succession process allows owners to incrementally step back and transfer real authority to successors. While we find each succession has unique opportunities and challenges, our approach typically includes:
- Assessment of owner’s or successor’s contributions to business, including experience, intellectual property, behavioral characteristics and business acumen
- Inventory of these contributions to create a virtual image of a person’s skills and capabilities
- Gap analysis to determine how the business must be run by the successors in order for them to succeed
- Development of a plan to close any gaps that exist between the owner and successor, including coaching or hiring to replace deficiencies after an owner’s departure
For most business owners, a succession is a once-in-a-lifetime event. The process encompasses significant practical issues as well as emotional and relationship concerns. Whether you plan to transition your business to your children, sell to your managers or consider an external buyer, we help to ensure your business owner succession is a positive experience.
Learn more about Decision Associates’ other succession planning services:
