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Succession planning is critically important, particularly for Irish business owners.
Firstly, if a business owner decides to sell their business, the first thing prospective buyers ask is “What is your succession plan?” When a founder exits a business, new buyers need reassurance that someone else will continue to drive growth, increase revenue, and lead the team.
Secondly, founders can become exhausted. They often build a business to a certain stage and are delighted to have gotten there, but they usually dreamed of creating it so they could have more freedom. They won’t realise that freedom unless they have somebody else to run the business while they take more of a back seat and enjoy the fruits of their labour.
Finally, having a successor eases daily stress and enables a leader to have someone underneath them to bounce ideas and decisions off. It helps ensure they are running the business as effectively now as when they started.
Barden partners with Boards and executive teams to appoint leaders, build future-ready organisations, and develop succession plans. Our founders and senior leaders work directly with clients, bringing first-hand experience of scaling businesses and driving growth. Reach out to jonathan.olden@Barden.ie to connect.