Managerial - Succession Planning

  • futureSME tools for Succession Planning

  • What is it?

    Succession Planning is a systematic process for identifying and developing future business leaders.

  • Why is it important?

    • To have an orderly and seamless transition.
    • To eliminate confusion over future ownership.
    • To be tax efficient

  • How can I use it in my business?

    In general, succession planning deals with issues relating to:

    • Ownership
    • Management
    • Taxes 

    We deal with the management aspects.

    The steps involved in succession planning are:

    Resources Step 1

    Fully establish the futureSME Transformation Process.
    futureSME Transformation Process.

    Resources Step 2

    Establish a dynamic structure.
    Establish an advisory board.
    Organisational Structure.

    Resources Step 3

    Identify potential successor(s).
    Succession Planning.

    Resources Step 4

    Train and Mentor the potential successor(s).
    Thinking Together. Collaborative Decision Making. Leadership Qualities. Leadership Style.