The lifespan of a business may outlive that of its founders. There are many businesses which continue for more than one generations. There are some very inspiring success stories in which a business founded and successfully grown by a founder continues to grow when the next generation takes over. Sometimes, the new business leaders have not only continued the business successfully, but have achieved much higher level of growth and expansion, which surpass the achievements of the founders. Such a successful leadership transition is a dream for any family business founder who wants his business to flourish and continue growing for generations to come.
On the other hand, many of the successful businesses founded by first generation entrepreneurs fail miserably when the next generation takes over. Many businesses crumble after the first generation because the founder(s) could not find and establish a successor and did not hand over the control to the right person.
The task of choosing the right leader to be the successor of the business is one of the most difficult one for any founder.
(Expert advice to GROW your business wherever you are, whenever you want.
SMEBusinessGuide.com… https://goo.gl/E3pfoQ)
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