Description

On this episode, Dave Lorenzo explains what succession planning really means inside a family business—and why most people are doing it wrong. He breaks down how to prepare every role in your business for both short-term backup and long-term succession, from frontline workers to leadership positions.

Key Topics Discussed:

• The real definition of succession planning in a family business
• Why it matters whether you're selling the business or handing it off
• How to build a contingency plan for every position, even the janitor
• The difference between a backup and a successor
• What "80% readiness" means for future role holders
• Leadership development and succession planning in management roles
• How to conduct performance reviews that promote growth and succession
• Why Exit Success Lab’s method creates a lasting competitive advantage

Links and Resources:

• Subscribe via Email: GetInsideBS.com
• Listen on Spotify: Inside BS Show on Spotify
• Listen on Apple Podcasts: Inside BS Show on Apple Podcasts
• Call Us: (305) 692-5531

Call to Action:
Subscribe at GetInsideBS.com to receive Dave's daily email and get your exclusive invitation to the monthly private meeting for family business owners and the professionals who serve them.