Episode 146 of the Business Bookshelf podcast - Donald F. White - Author of "Always End with the Beginning in Mind". The podcast can be found here.
Donald F. White is the founder of Treasure Coast Financial in Stuart, FL and succeeded as CEO in 2020. His company grew 21% after exiting. He is the author of two audio series entitled "Legacy Planning" and "Building a Great Business". For over 20 years, Don’s daily radio broadcast, God’s Money, was heard on WAY-FM in South Florida and on the Internet worldwide.
Donald is the author of “Always End with the Beginning in Mind: How Firms Remain Great AFTER the Founder Exits”. People love to talk about Succession Planning, but few ever accomplish the task. The numbers are staggering. The US Department of Labor Statistics tell us after one year in business, 20% of new businesses in America fail, but after 20 years only about 20% of those same businesses will have survived. Of those who survive, less than 20% will continue to a second generation! Most businesses have a cessation plan (a plan that leads to a business ceasing to exist), while very few have succession plans (a plan that leads to a business not only continuing, but thriving after the founder exits).
In "Always End with the Beginning in Mind", Donald takes you on a journey that resulted in a successful business continuation, and will give a founder of a business the steps necessary for a succession plan to actually succeed. A well-thought out and properly executed Succession Plan is a classic win-win. It is a win for the company, namely the clients and staff who are able to enjoy continuity after the founder's exit. It is a win for the successor, who is able to build on the success of the founder. Finally, it is a win for the founder, who is able to exit on their own volition and see what they have built continue to prosper for years to come. The book can be purchased here - https://amzn.to/2R3B7YW.
You can find Donald's website here - www.donaldfwhite.com.
The Business Bookshelf podcast can be found here or on your favourite podcast player.