Success and Successionexamines the leadership transition process from the successor's point of view, and outlines the considerations and strategies that lead to a better future for the business. With a focus on practical planning and execution, this insightful guide provides insight into the strategies that smooth the transition and help the new leadership make better business decisions. You'll learn when and how to start planning, who you need on your team, and the obstacles you should anticipate along the way. You'll learn to navigate the uncertainty the process entails, and how to identify opportunities for reciprocal understanding and adopt workable approaches for successful resolution of a multitude of transition issues. Interviews with those at various stages of transition highlight the real-world application of these ideas, and give you an inside look at what worked, what didn't, and what they wish they had thought of.
The transition of leadership in an independent, non-public professional service business can be emotional and difficult for everyone. This book gives you a framework for smoothing the process and driving the best possible future of the business.
- Consider the complexities of succession and transition
- Balance conflicting dynamics of outgoing and incoming leadership
- Plan for operational, financial, and emotional obstacles
- Develop and execute a winning strategy for long term success
The transition from founder to successor is far from an academic exercise, and is not linear. Answers are hard to find, and the ebb and flow of the process requires patience, creativity, and willingness to try again.Success andSuccession provides a unique strategy for success, from the perspective of incoming leadership.
Keywords: Success and Succession: Unlocking Value, Power, and Potential in the Professional Services and Advisory Space; Eric Hehman; Jay Hummel; Tim Kochis; leadership transition; changing leadership; transition process; transition strategies; succession strategies; family business planning; obstacles during succession; transition dynamics; successful transition examples; practical succession tips; being the successor; new leadership; change process; navigating change; leadership dynamics; emotional issues in succession; succession pitfalls; succession planning