Succession team coaching for creating an effective exit strategy for real estate brokerages and businesses, preparing your team for anything.
There’s also real confusion about the difference between ‘Succession Planning’ and an ‘Exit Strategy’. Ken Goodfellow shares insightful work on this important subject…
1. ‘Succession Planning’ is the ongoing process of preparing your talented people for career growth and promotion….and preparing the organization to operate without its current owner or leader.
2. An ‘Exit Strategy’ is a plan focused on how the current owner or leader, will exit the business effectively, gracefully and profitably. Ideally, there should be two Exit Plans…an ‘Eventual Exit Plan’ and a ‘Catastrophic Exit Plan’. The ‘Catastrophic Plan’ deals with how the business will carry on and how the ownership will be transitioned in the case of the sudden catastrophic loss of the owner or leader due to death or disability.
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