Blog / ChangeThis
By D. Scot Hunsaker
"In the entrepreneurial world we have a silent killer. We don't talk about it very much, but it can put an end to a lifetime of hard work and planning. We owners take all of the risks and sometimes withering criticism and we start a business because we believe in what we and the business could accomplish in the world. Then, over time we build a thriving organization. It hums along, makes money, benefits everyone involved, meets customer demand, and helps the community grow and prosper. All good so far. But then we decide to make our exit, or the decision is made for us by health or family issues or other business interests. So, now what happens. Well, at least two thirds of the time, the business ceases operations, with all of the collateral damage that does. It happens because we never transition the company to the next generation of leaders, not because we don't know how, but because we never get around to it. As CEO's and entrepreneurs, perhaps we think it will never happen to us, that maybe we have discovered the fountain of youth.
