Dig Deeper

Reducing owner-reliance can be a virtuous cycle. Businesses that can survive and thrive independent of their owners have an easier time attracting outside investors. Businesses with thoughtful and committed outside investors have more capacity in areas like access to qualified talent, diversity of experience, and financial heft.

There are other steps you can take to ensure that your organization is resilient and antifragile (e.g. building in redundancy, which is a separate, frequently expensive, step). But steps to reduce reliance on you as an owner are a critical starting place. And if you’re taking these steps honestly and mindfully, you’ll be able to demonstrate to a potential buyer that leadership is sustainable, distributed, and professional.

— From The Kingdom or the Crown

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