Start-ups and Succession Plans

We may not agree, but I think that a business founder goes through three stages.

  • Starting up – very exciting, everything’s new, lot’s of energy, lots of firsts.
  • Exit/Succession – again exciting, picking and preparing a successor, cashing out, realizing the dream, moving on to next challenge.
  • The boring part in between – show up, do your job, ss/dd
Last week I met a business owner. He founded a professional services firm almost 30 years ago. He seemed pretty successful. Has a dozen employees. We talked briefly about three things.
  1. He was the only salesperson. The others had no interest.
  2. He was growing his on line presence, but he was the only one.
  3. He had no ‘heir apparent’ that was ready.
So, he’s already done the ‘starting up’ and the long ‘boring part in between’. So, now what’s the plan and when does he want to get there?
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