AVENTURA OFFICE
18851 NE 29th Avenue
Suite 303
Aventura, FL 33180

Phone: 305-929-8500
Fax: 305-675-0564

WINTER PARK
1089 W. Morse Avenue
Suite D
Winter Park, FL 32789

Phone: 850-391-5060
Fax: 850-391-7705
TALLAHASSEE OFFICE
400 N. Meridian St.
Tallahassee, FL 32303

Phone: 850-391-5060
Fax: 850-391-7705
Kurkin Forehand Brandes - COVID-19 Update
Brand

Have you found the right business successor?

Down Arrow

You are here:

  1. Home
  2.  » 
  3. Business Law
  4.  » Have you found the right business successor?

Florida business owners like you put so much work and time into building your company. It makes sense that you want it to continue flourishing even after you leave. To that end, you must choose a good successor to inherit the company.

But how do you know you have picked the right person for the task? After all, what makes a successor successful differs from company to company.

Sharing a vision together

Inc.com discusses how to choose a successor for your business. As mentioned before, the success of a successor depends on different factors. These factors are unique to each business. What works for one business may not work for yours. But there are some traits that are useful across the board.

First, your successor must share your vision. It is alright for a successor to bring in new ideas. This is what helps a business grow and evolve. But if their ideals differ completely from your own, they may not make the best choice. You do still want the core of your business to be recognizable.

Your successor’s professional potential

Next, your successor should have some professional skills. This does not mean they must have experience running a business. But it helps if they have held leadership positions before. They should have strong organizational skills. They should possess communicative skills, too. After all, they will be delegating tasks to plenty of people.

Finally, your successor should have the dedication and drive to take over. As you know, running a business is no easy feat. It takes up much of your time and energy. Years of this can get tiring. Make sure your successor is ready before passing the business over.