Recommended Reading| Business Succession Planning For Dummies

Business Succession Planning For Dummies (For Dummies (Business & Personal Finance)) Business Succession Planning For Dummies

by Arnold Dahlke            A solid planning resource for Succession Planning,  

In my work as an educator and consultant, I work with both family businesses of various sizes and with traditional corporate structures.  Each of them have a common need – planning for the future by either growing their own talent or by identifying and addressing their weaknesses them by finding the right professionals to strengthen their businesses.

This means active succession planning, which sounds much easier than it actually is.

I am not fond of the series titled “for Dummies” but some of these books do a credible job at simplifying the approaches needed to address the topic. This is one of them.

The book is in 5 main sections
1. What Is a Succession Plan, and Why Do You Need One?
2. Creating a Plan and Putting It into Action
3. Diving Deeper into Succession Planning
4. Keeping the Succession Ball Rolling
5. The Part of Tens

Each of these parts begins with a disarming but pertinent cartoon by Rich Tennant, which add to the relaxed atmosphere of the book itself. Early into the first chapter, the author asks a key question, where we are asked to consider what might happen without a succession plan. He answers that in a very concise way:

Succession planning plays a role in extending a family business into the next generation by resolving issues of responsibility and authority needed to succeed. It can allow a business to pass from one group to another in a sale by ensuring the operational, marketing, and financial and people services are maintained.

Succession planning requires flexibility, timing and a commitment to process. This book provides tangible tools and resources, while acknowledging some of the more intangible but very real emotional characteristics of change

Dr. Arnie Dahlke, the author, has both academic, business and experience credentials to justify his messages and the book offers a guide, using clear and succinct techniques.

I liked the “Where to Go from Here” at the end of the introduction, which summarizes the need and background for planning.

Succession planning often requires more than reading a book due to the very involved details of transition, but this is an excellent resource

Dr. John Hogan CHA CMHS CHE CHO      HospitalityEducators         Hogan Hospitality

Success does not come by accident or chance.

Contact us for assistance.

John.Hogan@HospitalityEducators.com or 602-799-5375

HospitalityEducators.com was created to help hospitality businesses address problems via a training and information resource site to help you increase your Hotel’s revenue, market share and profitability.  With more than 2,000 pages of tips, guides, best practices, strategies, plans, budgets, videos and resources, HospitalityEducators.com is the #1 independent website for hotel owners and managers.  This site can help you solve your problems now!      Read More  

KEYS TO SUCCESS  is the umbrella title for my ongoing programs, hospitality services and columns. This year’s writings focus on a variety of topics for hotel owners, managers and professionals including both my “HOW TO” articles, HOSPITALITY CONVERSATIONS™, Lessons from the Field™, Hotel Common Sense™ , THE P-A-R PRINCIPLE™  and Principles for Success.
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