Leadership
Succession planning before the banker calls
Human capital risk shows up in diligence as discount, escrows, or a stalled process — rarely as a footnote.
Coming soon · 5 min read
Buyers model key-person risk explicitly: who holds recruiting relationships, who signs major accounts, and whether decisions are documented or tribal. Gaps become holdbacks, longer transitions, or price chatter at the eleventh hour.
Succession is partly narrative — who is visibly ready to lead — and partly mechanics: employment agreements, equity vesting, and clear approval rights among partners.
Early moves that pay off
Promote leadership visibility before a process starts, codify decision rights, and retain agents who matter to revenue concentration. The goal is a management team that survives scrutiny, not a heroic single-founder story.
Editorial draft — replace or extend this section when the full article publishes.