Navigating Succession in Family Businesses

You want the freedom to move on from the position you hold at your company right now. But you’d be leaving a big gap that needs to be filled sooner than later. You know someone could thrive in your position and should be equipped to take your place, but preparing for succession feels like a monumental task, emotionally and practically.

Today, Michael and Megan tackle succession—why leaders struggle with it, pitfalls to avoid, and how to craft a bigger vision for the future. They’ll show you how to design a path forward that helps your company thrive and empowers you to let go and move forward. Along the way, they’ll let you in on some big news of their own.

In this episode, you’ll discover—

• Why every leader should be thinking about succession.
• Examples of situations when transition plans did not go well.
• Why it's so hard for people to discuss this topic—and how you can overcome it.
• How decoupling the leader from the brand can help the company succeed.
• Behind the scenes details about our succession plan at Michael Hyatt and Company.

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