June 25, 2016
A High-Relationship business is one where clients have a relationship with a specific individual, often the founder or the CEO, and it is primarily this relationship that keeps them coming back to the business. Contrast this situation with dominant market players, such as KPMG in accounting, where the brand awareness dominates client-retention.
Examples to high-touch businesses include: money management, legal services, medical services, insurance sales, etc.
The goal of a succession process is to transfer all client relationship to succession management or a new owner, without losing any business.
In today’ episode, I describe six ways that transition can be affected by high-touch businesses to avoid losing clients. In fact, I believe the firm will gain clients by following this process.
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Your Succession is Success!