045 - If There is No One to Succeed You

What do you do when there is no one inside or outside the business that could succeed you? This was the question I received from Paul, who lives in Fredericksburg, Virginia.

Listen to today’s episode to find out my six strategies to solve that problem.

Strategy no. 1 is to find somebody further down in the organization, with the potential to be groomed into the job. Let this person shadow you, perhaps as a personal assistant/secretary or PR person. Later on, you could assign them important roles in senior management of the business. A future CEO is best off to have had exposure to sales, operations as a minimum and possibly finance.

Strategy no. 2 is to poach a number two or three person from a competitor, where they have no prospect of an early promotion. Maybe they have been passed over or the top dog is too young to move on anytime soon.

For strategies 3 to 6, tune into the show. 

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Your Succession is Success!

 

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