Your Company: The Next Generation

All in Your Head
“What’s so prevalent with many businesses is that the entrepreneurs have everything in their heads, and they have not put it down in any kind of systematic form so anyone else can make use of it,” says Bill Sornstein, principal at Succession Strategies, a consultancy that works with family-owned businesses. This information should be documented. Develop best practices so proper systems can be implemented for eventual successors to use.