Succession Planning

Entrepreneurs might not find the phrase “succession planning” in their vocabulary. While Entrepreneurs do not or might not want to think about succession in the sense that they are “retiring” from the business, finding a replacement is something to ponder about.

As an Entrepreneur starts and develops one business, the spirit of innovation does not end. He or she might find new ideas for ventures that might not fit within the mission of the current business. In that case the Entrepreneurs might have to start one or more companies.

In order for the Entrepreneur to focus on his/her entrepreneurial passion, the current business would require a capable leader to run the existing company. This is the type of “succession” planning the Entrepreneur should be thinking about.

If one wants to grow multiple businesses, then “succession” planning is critical for an Entrepreneur.

Ravi Patel

 

Advertisements
Published in: on April 25, 2011 at 5:33 am  Leave a Comment  
Tags: , , , ,

The URI to TrackBack this entry is: https://bloggerravi.wordpress.com/2011/04/25/succession-planning/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: