What are Seven Steps to Succession Planning?

Jun 01, 2022 • 3 min

Infographic describing 7 steps to succession planning. A full description is available through a link beneath the image. — Image description

Strategic Advice

Why is Succession Planning Important?

Effective succession planning can increase valuation and investor returns for large companies by 20-25%. But many companies don’t have a succession plan. Develop one with these seven steps.

Article 6 min

Strategic Advice

Four Steps for Effective Market Planning

Growing a company or launching a new product or service can be daunting. Careful planning can help facilitate growth, while mitigating risk.

Article 6 min

Strategic Advice

Five 2022 Business Planning Trends

Over a year into the pandemic, companies are still adapting to economic, labor and supply chain challenges. In the next year, CEOs and other business leaders will focus on sales, spending, supply chain management, staffing, and flexible work arrangements.

Article 4 min

Recent

Sustainable Agriculture: Good for Earth, Growers, Economy
The sustainable agriculture market will grow to $31.4 billion by 2031. What does this mean for the future of farming?
Building an Engineering Company from the Ground Up
In 1996, newly established Bunnell-Lammons Engineering (BLE) sought a stable banking relationship that could also provide much-needed capital. They chose Synovus ahead of three competitors. Twenty years later, Synovus is still the partner Greenville, South Carolina- based BLE trusts with their banking needs.
Picture-Perfect Relationship Helps Broadcast Services Company through Difficult Times
Red House Streaming, in St. Petersburg, Florida, supports, enables, and simplifies broadcast-quality media content creation and delivery. When all the company’s scheduled events were canceled during the pandemic, Synovus helped Red House secure the financing needed to keep their doors open.
U.S. Crop Production Hungering for Growth
The pandemic interrupted food supply chains. Even with eased constrictions, the next few years will be challenging for Southeastern producers. Farmers and other growers must be prepared to adapt to market conditions.

Sustainable Agriculture: Good for Earth, Growers, Economy
The sustainable agriculture market will grow to $31.4 billion by 2031. What does this mean for the future of farming?
Building an Engineering Company from the Ground Up
In 1996, newly established Bunnell-Lammons Engineering (BLE) sought a stable banking relationship that could also provide much-needed capital. They chose Synovus ahead of three competitors. Twenty years later, Synovus is still the partner Greenville, South Carolina- based BLE trusts with their banking needs.

Important disclosure information

This content is general in nature and does not constitute legal, tax, accounting, financial or investment advice. You are encouraged to consult with competent legal, tax, accounting, financial or investment professionals based on your specific circumstances. We do not make any warranties as to accuracy or completeness of this information, do not endorse any third-party companies, products, or services described here, and take no liability for your use of this information.