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Jan 22, 2008

Comments

Bob Mincus

I found this post interesting because I've been thinking about succession lately - even though my internet business is only a few years old, and is still part time.

I hope to grow my business in the future and hopefully turn it over to my son one day.

I'm thinking that it's not too early to plan, because my business practices can still be easily changed at this point.

For example, I really like to read the marketing blog of James Brausch, and he recently changed his blog's domain away from http://www.JamesBrausch.com, in case he wants to pass the business to a successor.

He said this was sort of a tricky decision because he was really concerned with losing readers.

So, I would really be interested in information about how to design a business that is easy to pass along.

Hopefully, you could have some follow up articles on this.

Thanks.

Chelle Parmele

Hi Bob,

Thanks for the comment!

Family succession sure is an interesting topic these days, 'specially with all of the baby boomers turning to retirement.

I know that Tim has written a few things on family succession planning. I've linked them below. I'll talk to him when he returns from Miami and see if he has any other advice in this arena.

Nepotism vs Common Sense
http://blog.timberry.com/2007/10/nepotism.html
The Rest of the WSJ Story
http://blog.timberry.com/2007/10/the-rest-of-the.html
6 Tips For Involving Your Kids in Your Business
http://blog.timberry.com/2007/12/6-tips-for-invo.html

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