"I can usually tell when a founder has never thought about succession. It's when they can explain their pricing model, their hiring plan, and their next product sprint. But they take time to answer this question: If you could not show up tomorrow, who could step in and keep your company running? In recent years, the trend that has surprised me most is not who founders pick as successors, but rather that so many have no plan at all."
"This is especially common among young founders or those with no partners. That tells me something about how modern entrepreneurs think about legacy and control. They still picture control as a person, not a structure. As long as they are alive and reachable, they assume the business is safe. That assumption is a huge risk. Sign up for How Success Happens and learn from well-known business leaders and celebrities, uncovering the shifts, strategies and lessons that powered their rise."
Many founders lack a succession plan, often assuming the business remains safe while they are alive and reachable, which creates significant risk. Young and solo entrepreneurs are especially likely to have no contingency. Scalability depends on the company's ability to operate without the founder, not on revenue metrics alone. Effective succession planning focuses on building systems, defining access, and enabling operational continuity rather than relying on trust, loyalty, or family ties. Lean companies defer planning and often get stuck when later becomes too late. Data shows only about 35% of solo owners plan to transfer ownership, increasing future uncertainty.
Read at Entrepreneur
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