Entreprenuers Wanted: Serious Entrepreneurs for:

Succession Planning:

is typically defined as “a process by which one or more successors are identified for key posts (or groups of similar key posts), and career moves and/or development activities are planned for these successors”.In other words, ‘Entreprenuers Wanted: Serious Entrepreneurs’ for succession planning is about preparing organisations for likely or inevitable changes now, in order to minimise challenges later. (Kathryn Kelly, 2010)

The average and typical Home Based Business Continuity issues are epitomised by myriad Entreprenuers Wanted failures: with need for Serious Entrepreneurs for succession planning. The home based business entrepreneurial inability to envisage the lose of distinguished and experienced key entrepreneurial personnel in an unprecedented incident at a significant stage in the businesses growth stages. This can greatly impact on the very viability of their home based business. Though there are always concerns about the safeguard and design of the intellectual property and safety of perpetuity of home based businesses. The owners, entrepreneurs in most instants fail to consider the risks that may arise especially when such key experts and specialists are involved in an incidence.

Most home based business entreprenuers fail to look at the threats and vulnerabilities of concentrating such a high profiled intellectual property to a single individual.

Entreprenuers Wanted: Probabilities and Impacts for Succession Planning

They should considered the probabilities and impacts arising in the loss of such an individual whose personal attributes and characteristics are paramount in the various phases of the home based business growth. Various situations mandate that entrepreneurs should consider their roles as the key personnel player and their relative importance in the long-term sustainability of their home based business.

Their home based business continuity plans need to identify the key and critical activities that they as entrepreneurs undertake and plan accordingly to protect and maintain resilience to preserve continuity of their home based business operations. They also need not misunderstand and underestimate the trauma of losses that have far-reaching consequences and the profound impact an incident. can have to their team and consulting services.

The wealth of knowledge and experience is irreplaceable in a crisis and would have serious impact of future profitability and operations. Entreprenuers Wanted: Serious Entrepreneurs have both short and long-term interests and needs that should be considered and worst case scenarios analysed and planned for incase of total loss of key team members. The loss of personal skill set and capabilities would have far greater impact beyond the response levels and recovery levels of typical home based business contingency plans.

In summary the key to successful home based business continuity succesion planning encompasses all critical fronts in negating to envisage total loss of the most senior intellectual and experienced team members.

Entreprenuers Wanted: Measures for Succession Planning:

The following measures should have been put in place to mitigate the impact of such a loss.

• They should considered what their key and critical functions are and what capabilities need to be maintained in a worse case scenario?

• Carried out a detailed analysis on the threats and vulnerabilities of their position, question – what are the weak areas of their teams mission and individuals?

• They should also conduct an in-depth analysis of the effects and impacts of engaging all key personnel involved including their teams and have an equally in-depth, comprehensive, inter-departmental and cross-functional response and coping programme.

Entreprenuers Wanted Alert: Serious Entrepreneurs for further details on Succession Planning contact:

Francis Maina

Home Based Business Resilience Consultant and Business Mentor

email: businessresilience@gmail.com

Mobile: +447890521876

i2c Network for The Resilient Entrepreneur

CBXII, 382-390 Midsummer Boulevard, Milton Keynes, Buckinghamshire, United Kingdom. MK9 2RG.