Top 5 Tips For Business Continuity And Succession Planning

09/19/23 • 43 min

Do you think there is someone out there, anywhere in the world, capable of taking the torch of your hand and running with it to the next generation? Are you mentally prepared for that? Is everything in your social enterprise ready for a smooth succession?

Today, I'm excited to talk about my merger experience and share my top 5 tips for business continuity and planning a smooth succession. After a process that took months to be completed, years of planning, and decades of preparation, I share the details of how I manifested this merger, how I decided it was the best moment for it, and how I sorted out the obstacles that got in the way.

At the core of every social enterprise is your social mission, and you must ask yourself: How long can you keep the pace that'll make your actions relevant for the cause you're fighting for?

Tune in and listen to episode 41 of Avant-garde Entrepreneur. You will learn the secrets of a successful merger, why you must plan for it, and how to do it. You will also hear my recommendations about having an intermediary, trusting the process, manifesting your wildest dreams, and more.

In This Episode, You Will Learn:

What makes you unique in your business (3:00)
A backstory of how this merger happened (6:10)
Start now, mergers take time (12:20)
Why having an intermediary can make the difference (19:00)
Dream big. Let the divine do its job (23:20)
Be transparent about your strengths and weaknesses (29:10)
Be ready and learn to let go (35:30)

Resources:

Let's Connect!

Hosted on Acast. See acast.com/privacy for more information.

At the core of every social enterprise is your social mission, and you must ask yourself: How long can you keep the pace that'll make your actions relevant for the cause you're fighting for?

In This Episode, You Will Learn:

What makes you unique in your business (3:00)
A backstory of how this merger happened (6:10)
Start now, mergers take time (12:20)
Why having an intermediary can make the difference (19:00)
Dream big. Let the divine do its job (23:20)
Be transparent about your strengths and weaknesses (29:10)
Be ready and learn to let go (35:30)

Resources:

Let's Connect!

Hosted on Acast. See acast.com/privacy for more information.

Previous Episode

Educating Future Difference Makers for A Greater Social Impact with Dr. Jim King - Part 2

1 Recommendations

"The first thing most people in any of these enterprises should be concerned about is: If I can't run a sustainable enterprise, the doing good goes away."

In today's episode, we go through the second part of my conversation with the Director of the M.Sc. in Information Systems Program at the University of Mary Hardin-Baylor and the Founder of Change University, Dr. Jim King.

Tune in and listen to the fortieth episode of the Avant-Garde Entrepreneur podcast; you'll hear Dr. King's advice on how to start an impact enterprise on the right foot and for the right reasons, and everything you need to know to make sure your social enterprise fulfills its goals. We also talk about Dr. King's sklll in building people and helping students understand why they are built the way they are.

Additionally, we discuss the dangers of lack of discernment, the importance for social entrepreneurs to understand their why, what separates purpose-driven people from mere dreamers, and more.

In This Episode, You Will Learn:

What do impact entrepreneurs need to start a social enterprise (4:10)
Dr. King talks about the patterns successful social enterprises follow (9:10)
Your gifts and passion come together (15:20)
Things every social entrepreneur should avoid (21:00)
Dr. King shares tips and advice for kids in their 20s and late teen years (25:40)
The importance of understanding why you were built this way (29:00)
Dr. King talks about his most immense joy as a facilitator (32:10)

Resources:

Connect with Dr. Jim King:

Let's Connect!

Hosted on Acast. See acast.com/privacy for more information.

Next Episode

Investment Readiness: How To Find the Right Investor with Don Simmons

Is your social impact business ready for investors? Do you know where to find the right investor?

Today's episode is the first part of a two-part series on Investment Readiness, and we kick off this conversation with someone who has been putting his money where his heart guides him for almost 40 years, Don Simmons. Don is the Founder and CEO of the Steward Advisors Group, is the Author of the life-changing book "The Steward Investor," and is the kind of investor who prioritizes maximum societal transformation over RoR (rate of returns).

Getting access to financial capital depends not only on how organized your social impact business is, how good your MVP (Minimum Viable Product) is, or even if you have a smooth data and accountability mechanism, you must also find the right investor. Still, to make this match made in heaven a reality, you must know where to look for.

Tune in and listen to the forty-second episode of the Avant-Garde Entrepreneur podcast. You will learn what exactly investors look for in social enterprises, what details make impact businesses irresistible to them, and what ponds you should fish on to get the right investor for your company. Don also shares his experiences as a lifelong investor, his favorite social impact businesses to work with, advice for the new generations of social entrepreneurs, and much more.

In This Episode, You Will Learn:

A bit about Don's background and experience as an impact business investor (3:20)
How to get your MVP on point (10:20)
There are two types of investors (16:50)
How to discover the perfect investors' network for you (27:40)
Don talks about the kind of social impact businesses he likes to work with (34:30)

Connect with Don: