What are the secrets behind a successful ownership transition? True success involves a mentorship structure that aligns emerging leaders' expectations and changing roles with those of current owners. This session will demystify ownership transition from multiple perspectives: the leader approaching retirement, the expanding leadership team, and the someday-principal-to-be.
Discover the importance of setting goals and understanding preferred outcomes in planning for ownership transition.
Understand options for ownership transition based on the timeframe to retirement and openness to sharing leadership responsibilities.
Explore best practices for identifying the right person to be a successor and how to create a framework for a partnership agreement.
Learn how to prepare emerging leadership for a future ownership role through structured stages of professional development.