A Committed Succession Plan
By: Rick Boxx
July 11, 2012
A 2010 PwC Family Business Survey discovered that 28% of the family-owned companies surveyed anticipated an ownership change within the next 5 years. The majority of those people believed that their business would pass on to the next generation.
Unfortunately, many of those organizations either have no defined succession plan or they have not adequately communicated it to the next generation. Worse yet, many have not involved God in the process.
Many times one of the most important transitions for a business goes without prayerful consideration of who God desires to run the business next.
Proverbs 16:3 teaches, “Commit to the LORD whatever you do, and he will establish your plans.”
The first step in succession planning should be to commit the process to the Lord. Then seek wise counsel.
Joe Calhoon’s The 1 Hour Plan for Growth
Creating a business plan is the best indicator of whether your business will grow. Planning doesn’t have to be difficult or take weeks of your time. The 1 Hour Plan for Growth will help you create a clear and compelling plan that fits on a single page in about an hour. Rick Boxx contributed several articles to this book. Purchase here.