Planning for Successful Succession (with Phil Clemens)

How important is a succession plan to your company’s health? What are the challenges to putting one into place? How can business owners and founders step outside of their egos, face the idea of being replaced, and ask the hard questions on future leadership? Listen as our return guest, Phil Clemens, shares why every leader should create a succession plan long before they intend to hand over the reins, how taking time to determine the different, necessary skills to take the business to the next level in the future is crucial to the life of the business, and how the mindset of retiring TO something, not FROM something, can help leadership transition smoothly.  Bio: Phil Clemens began his career on the clean-up crew of the family business, Hatfield Quality Meats, and worked his way up to be the CEO of the company. Over the decades, he worked in all areas of the family business, with 20 of those years in Human Resources and seven as CEO and President of the legacy business, now known as The Clemens Food Group. Phil retired from The Clemens Food Group in 2015 as Chairman and now serves as an ambassador to family businesses throughout the country, as well as being a national speaker on family business issues and teaching leadership skills. Phil currently serves and has served on numerous boards such as Crown Financial Ministries, North American Meat Institute, Eden Bridge Foundation, Profit Sharing Council of America, and American Red Cross. He has received many awards in the meat industry, as well as community service awards, and has honorary doctorates from Lancaster Bible College and Elizabethtown College. Phil and his wife Linda live in Lancaster, Pennsylvania and have three daughters and seven grandsons. Bigger Than Business is the show where you’ll discover real-world stories of business owners living their purpose. You’ll encounter men and women all over the world who draw strength from understanding why they do what they do and how they remain true to that purpose through the ups and downs every business owner will face. www.thecapitalchartroom.com