Succession Planning Isn’t Optional: How to Exit Your Business on Purpose

Succession planning. Every business needs it, yet most owners don’t really think about it.

But why is it important to carve out time for business succession planning?

Tyson Ray and Kim Cochenour talk about Tyson’s own journey into succession planning, discuss who benefits from a well-planned succession, and what’s to come for the Total Succession Show.

As Tyson puts it: “you only exit your business once, so you should create the space to make it happen.”
● You’ll exit your practice one day – you’re either going to die owning it and someone’s going to take it over or you’re going to have a succession event.
● After he turned 50, Tyson started to address certain succession planning aspects thinking he had set things up correctly…but it turned out that he didn’t.
● Doing things right isn’t only something you owe to your team but it’s actually something you owe to yourself too.
● Without being deliberate with your focus on your exit, you’ll just stumble into whatever your exit’s going to look like.
● As Tyson puts it: “Remember that you only exit your business once. Create the space to make it happen.”
http://TotalSuccession.com
FORM Wealth Advisors - https://FORMwealth.com
Tyson Ray - https://FORMwealth.com/tyson-ray
Kim Cochenour - https://FORMwealth.com/kim-cochenour

00:00:00 Start
00:52 Who gets affected by your succession planning
01:28 When Tyson started to get into succession planning
02:27 What Tyson realized after 27 years of being in business
03:19 A decision you need to make
04:32 You don’t only owe succession planning to others… you owe it to yourself too
05:31 You either focus or stumble on succession planning
06:53 Internal and external successions
08:10 Something Tyson has noticed after years of coaching clients
08:22 What’s to come
09:35 Tyson’s and Kim’s goal
10:29 How Tyson feels with a succession plan in the works
11:03 More about the upcoming conversation with Scott Danner
12:03 Final quote by Tyson

#career #lifecoach #selfimprovement

Видео Succession Planning Isn’t Optional: How to Exit Your Business on Purpose канала Total Succession