Successor Development: 5 Key Indicators for Evaluating a Successor

Once there are available successor candidates, business owners should take a less instinctive approach to selecting a successor from the candidates by evaluating some key traits. We refer to these traits as the 5 Cs: Character, Confidence, Capability, Competence, and Community. First and foremost is Character. A viable successor candidate should have a strong work ethic and an attitude of earning his way. They should have respect for the people that work for you and value them as great contributors to the business, not as pawns in your play. They should be an upstanding individual with integrity and a commitment to doing the right thing. To read the end of this article, click here.