Episode Details
Back to Episodes
Succession planning and how to prep your kids or an employee to take over | ft. Tom Howard | Ep.434
Description
Thinking about passing down your business? Not so fast! In this episode, we break down the real challenges of business succession planning. Should you hand over your trade business to your kids or employees? What are the biggest mistakes owners make? And how do you set up a business that thrives long after you step away? We cover strategies, real-life success stories, and hard truths every business owner needs to hear.
Watch the video version of this podcast at https://youtu.be/z_142odU-Y0
Discussion Points:
00:00 – Episode Highlight
02:00 – Why Most Family Businesses Fail by the 3rd Generation
05:30 – The Key to Training Future Leaders in Your Business
09:45 – Should You Hire Externally or Promote From Within?
14:00 – Real-Life Success Stories of Business Succession
18:30 – Biggest Mistakes Owners Make in Transitioning Leadership
23:15 – How to Create an Exit Strategy That Works
Resources:
- Get the Acquisition Guide for FREE at https://www.howarddeals.com
- Website: https://www.howarddeals.com
- Social: https://www.instagram.com/howarddeals
- Email: thoward@servicetitan.com
- ServiceTitan’s World of Titans Event - https://bit.ly/WorldofTitansAU
Your Next Step:
Join Tradie Academy, our free community packed with templates, checklists, and resources shared by podcast guests, coaches, and successful tradies.
👉 Join free and grab your next growth tool here: https://tradie.wiki/pod
Follow The Site Shed:
- Facebook: The Site Shed
- Instagram: @thesiteshed
- LinkedIn: Matt Jones
- Website: thesiteshed.com
- YouTube: @TheSiteShed
If you enjoyed this podcast and the series, please take 5 minutes to leave us a review:
⭐ https://lovethepodcast.com/TheSiteShed
Love the audio version of this podcast? Subscribe to the link below:
⭐ https://followthepodcast.com/TheSiteShed