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  2. 2013
  3. March
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  5. family transition
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Exit Survey
 
 
Train a child in the way he should go, and when he is old he will not turn from it.
Proverbs 22:6


Welcome to the Transition Survey

This survey is for those who hope to some day see their kids or key staff members take over ownership of their firm.

More than half of current small business owners are over age 55. Many, possibly the majority, have made no plans for succession. As I work with owners in this position I am aware that almost none have entered into an intentional plan to train their successors for the eventual responsibilities they will necessarily assume.

The purpose of this survey is to help me identify the key areas where I can develop helps that will facilitate this process.
 
 
 
When it is time to retire would you prefer the firm transition to:
 
Your children
 
Your key staff
 
A regional Consolidator
 
A National Consolidator
 
don't know
 
Other
 
 
 
 
As you get older do you plan to:
 
Work until you are unable
 
Work but take more time off
 
Only come in when you want
 
Not have to come in except when absolutely needed
 
do something else
 
Other
 
 
 
 
How many years before you plan to retire
 
15 years
 
10 years
 
5 years
 
2 years
 
right now
 
 
 
Do you have a formal succession plan?
 
yes
 
no
 
 
 
If it were financially possible which would you prefer succeed you?
 
Your children
 
Your key staff
 
both
 
Other
 
 
 
 
How long do you think it will be before your successors will be ready?
 
They are ready now
 
5 years
 
10 years
 
never
 
Other
 
 
 
 
what resources do you rely on to train your successors?
(check as many as apply)
 
Send them to trade conventions
 
Take them to my study group
 
We have a formal mentoring program
 
Send them to non-industry training programs
 
Bring in outside training services
 
Other
 

 
 
 
what skills would you need to see your successors master before you retire?
(check all that apply)
 
Making arrangements
 
Embalming
 
Leadership
 
Supervisory
 
Financial
 
Strategy
 
Marketing
 
Other
 

 
 
 
Have you discussed your vision for your successors growth with them
as a developmental plan?
 
yes
 
no