Business Succession Planning

You’ve heard that saying, “All good things must come to an end.”  That end for a business or organization can be as a result of retirement, passing to another generation, moving on to new adventures or less pleasant disruptions one prefers not to mention.  Whether your business or organization is big or small, wouldn’t it be great to see that it has the opportunity to thrive on with its next caretaker or its operations can cease in an orderly, optimum way, whichever way you feel best.  It is something we all should think about as business people — succession planning. Even as the staff person for this economic development organization, I feel an ownership and I would like my successor to have the best chance at success when I move on. So, why wouldn’t any business owner plan for his kids, or wife, or partner, or whomever to have success with the company?

Some resources:

About Daryl Phillips, CEcD

I am a professional economic developer. I presently serve as Director of Economic & Community Development for the Cheatham County Joint Economic & Community Development Board. I am a member of International Economic Development Council, Southern Economic Development Council, International Association of Business Communicators, Tennessee Economic Development Council and International Council of Shopping Centers. I have earned the designation of Certified Economic Developer (CEcD) from International Economic Development Council (IEDC), the Economic Development Finance Professional (EDFP) certification from National Development Council and hold a Master of Business Administration from Tennessee Technological University.
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