If you have a family-owned-and-operated, and you’re a baby boomer, you need to start thinking about who’s going to run the business when you retire. Something to remember: your style of doing business may be different than those of a Gen-Xer or a Millennial.
This videos shows some key points that you need to factor in when planning your family business succession:
You need to:
- Identify your high-potential leaders
- Understand their motives and goals
- Provide executive coaching & training
- Partner them with baby-boomer mentors
A SCORE mentor can help with this. Click here to schedule a free mentoring session.