Entrepreneurs spend years building their business, investing considerable money, time and effort to make it a success. But what happens when it’s time to step down? This Wall Street Journal article: Disney, Walton, Ford, Gates: Tales of When Legends Leave profiles four different visions of succession and what happened at Disney, Wal-Mart, Ford and Microsoft.
Coach Kevin’s Challenge:
- Do you have a succession plan in place for when you step down? If you’re thinking about stepping down in less than five years, it’s time to develop a plan.
- Identify the top five most important aspects of your business that need to live on when you step down. Use them to choose and groom your successor.
