Mentoring Part of New Trend in Business Succession Planning
Many small businesses grapple with succession...who should take over the business if the owner should pass away, become disabled, or just ready to retire. There's a new trend in dealing with this issue that involves the owner selling the business to someone, oftentimes a young person, who is being mentored by the founder, who agrees to stay on for a few years in an advisory capacity. This is exactly what has happened recently with an architecture firm in Charleston.
Mike Switzer interviews Wally Seinsheimer, the original founder of Dolphin Architects and Builders and Christopher Ibsen, the new owner.