Changing Leadership

If a decision is made to Change Leadership, then the primary focus for the succession plan is addressing the issues that will affect the business continuity once the owner has exited from the daily running of the business. By focusing on the issues that affect business continuity the owner can help protect their investment in the business and make sure it remains a viable business which they will be able to draw profits from to fund their lifestyle post succession.

The following five key topics have been identified as important when Changing Leadership:

• Who Leadership Should Ascend to;
• Key People to the Business;
• Finance and Working Capital;
• Systems and Processes; and
• Structure Documents for Continuity.