How can you achieve a smooth handover to the new generation

Probably one of the hardest questions for most business owners to face and  answer because

• • The owner is still the central cog in the machine they have built.
  • Nobody can understand the business as well as them.
  • The prospect of retiring is too daunting, they will just work until they drop!
  • They is still plenty of time and the owner still want enjoys going to work everyday.
  • The thought of handing over sends shivers down the spine!
  • The business is their pension and need to be in control of that!
  • Don’t need to think about it , just happen one day.
  • Just can’t getting anyone to take on responsibility.

Here at Team Results we meet far too many business owners who have just left it too late.  Often they feel that when they employ people they take on a responsibility and that responsibility can or has become  a burden.

The owner has built his business by sheer hard work and determination. All that experience forms their common sense. Unfortunately, that sense is only common to them and they cant get why the successors just don’t get it. It’s so obvious. It’s because only the owner has the experience but they don’t truly understand how they have achieved their success so they can’t pass on the experience and have to wait for the successor to ripen! It may take for ever.

So, what is the answer?

Step one is often to truly understand how you created your success and then step two to develop the leadership skills of the successor so that the transition can be smooth.

It’s the old adage of building a profitable business that works without you. This gives you the freedom and choices about what you want to do with the business.