RCSI - Succession Planning
Open communication is key to succession planning
RCS Influencer Trent Cotney says to have some open and honest communications about what that transition looks like. Editor's note: The following is the transcript of a live interview with Trent Cotney. partner of Adams and Reese LLP and Alex Tolle, with RoofersCoffeeShop. You can read the interview below, listen to ...
How to build a succession plan?
RCS Influencer Heidi Ellsworth says look within for a succession plan. I come from a contracting family. My Dad was a general contractor and I grew up pouring concrete, painting and living within “in progress” renovations in many of my childhood homes. As kids we were always working with our ...
Using an Outside Voice for Succession Planning Removes Emotion from the Equation
RCS Influencer Mark “Lefty” Holencik says that emotions can get in the way when developing your succession plan. Succession Planning can start from the day you open your business or from the first time it crosses your mind. This will build the best value when negotiating your exit. First question: Is your ...
Start Succession Planning by Thinking in Terms of Survival and a Growth Model
RCS influencer Charles Antis says before succession planning, you need to ensure that your business will survive and learn how to build a company that can sell.
Have you thought about succession plans for the positions within your company?
RCS Influencer Sarah Weiss says that succession plans are critical for every position in a company, but it’s a challenge to make the time to create them. Last year we began the process of creating succession plans for each role in our company. We’re early on in this process but began ...
Creating a Business Succession Plan Involves More Than Just Determining a Successor
RCS Influencer Trent Cotney says there are four key factors to developing a solid business succession plan. The most important step in business succession planning, regardless of industry, is to start planning early. There are four key factors applicable to roofing company owners when developing a succession plan: Choosing a successor Determining which ...
Developing a successful succession plan takes time but it’s important
RCS Influencer Alison LaValley says a succession plan must account for the unique needs of your business and family because it empowers you to leave a lasting legacy. Succession planning can be a complex undertaking that’s filled with questions. For example: When do you want to transition out of your ownership ...
Succession Planning Should Be an Open Discussion
RCS Influencer Jennifer Stone says that contractors should take advantage of the resources that exist to help with succession planning. Succession planning is such an important topic, yet many family owned business seem to just avoid the subject. I’ve never been in a family business and only have experience in the ...
