There seems to be a predominant Nigerian mindset of my business is “my business” alone. There also seems to be the mindset of “no one can understand my vision and carry it out the way I want.”
Here’s what happens when you have this mindset:
You may create a successful business that thrives and brings in the money but what will happen after you’re gone?
Will your business continue to thrive or will it nosedive?
One thing we can all agree on is that death is a stage; in life and even in business. Death stage in life is inevitable but you can avoid death stage in business.
Have a business succession plan.
This plan should involve the strategic selection and preparation of the potential runner of your business.
However, there is much more to a business succession plan than preparing the overall runner of the business.
What’s your take regarding business succession?
Share with us!