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When you're a business leader there are countless factors vying for your attention. This is especially true for new entrepreneurs, who are often stretched to the breaking point during the first few years of the company. Unfortunately, the grind of day-to-day operations often leads to neglecting one of the most vital steps to protecting your company, succession planning. According to a poll conducted by Harris Interactive for Careerbuilder.com, nearly 40 percent of companies don't have a solid succession plan in place. Which means that all it takes is a car accident, family emergency or other unforeseen disaster to take the leader temporarily out of play, and leave the company in relative chaos. During his first few months as a warehouse operator, Tony Kucharski often went in after hours and on weekends to deal with a crisis. It was during one of these trips back into work that Kucharski realized if he were too sick to work for a few months, the company would face serious issues.
Now that successors are trained, Kucharski is able to invest time in new ventures. Pass it On is a step-by-step guide to help leaders work through both short-term and long-term succession planning.
"Small businesses often fail because their owners lack a succession plan. This well-written book provides some commonsense tips for identifying and training a successor. It also highlights some of the pitfalls of small-business succession planning, including the potential drawbacks of nominating a family member as the successor. For those who are running--or thinking of starting--a small business, this book is well worth its modest price."
-Scott Cooley, CFO of Morningstar, Inc.
"I will be the second-generation owner of a family owned business. Pass it On outlines how important short and long-term succession in a business really is and how our business has been lacking a succession plan. After reading Tony's book, it has made me look at our current business structure and analyze what changes need to take effect to successfully transition from father to son. I would highly recommend this book to family run business owners who will be making a transition in succession in both the near and long term future."
- Dan Leonard, Industrial Battery Sales and Service
"Being a third generation entrepreneur, Pass it On is a quick read that takes on some of the most important and overlooked parts of running a company. It should be required reading by anyone who has started or will start a business."
-Dave Eenigenberg, President of the Trek Bike Store, Name one of "America's Top 100 Bike Shops"
"Pass it On encourages you to see the big picture... without you in it. If you have a feeling your company be in trouble without you, read this book. Its a quick, direct, and informative read that will get you planning for the future."
-Frank McCready, President of One Touch Software