One of the biggest challenges business owners face when thinking about exit is this –
“If I’m not here, what happens to the business?”
The fear of everything unravelling the moment you step away is real – especially if you’re still central to day-to-day operations. But the good news is, with the right planning, you can build a leadership team that’s capable of running things without you.
And when you do that, you don’t just reduce risk – you increase value. Whether you’re selling, transitioning to an MBO, or just want to create freedom, a strong second tier of management is essential.
Here’s our top six tips to get you started:
- Spot your future leaders now – not later
Don’t wait until you’re ready to exit. Start identifying the people in your team with the potential to step into bigger roles. You’re not just looking for top performers – look for emotional intelligence, resilience, initiative, and people who care about the bigger picture.
Some of them might surprise you.
- Invest in their development – strategically
Upskilling isn’t just about sending people on a leadership course and hoping for the best. It needs to be part of a wider development plan:
- Practical leadership training – people, performance, and finance
- Strategic involvement – bring them into board-level discussions
- Exposure to commercial thinking – not just operations
- External mentoring or peer groups – so they learn from others too
- Stretch assignments – with accountability
The aim is to move them from “doers” to “owners of outcomes”.
- Start transferring responsibility – before it’s urgent
Don’t do it all at once. Gradually step back from core areas of the business and let them take the lead. Maybe it’s client relationships, financial oversight, team management – whatever makes sense.
Be clear on expectations. Create feedback loops. Let them own results.
This builds confidence on both sides.
- Formalise their position
If someone’s stepping up, make it real. This might mean –
- Changing their title and role
- Adding them to your board (even if just operationally at first)
- Exploring director responsibilities legally
- Starting early conversations around equity or share options
These changes help cement their commitment – and show the outside world there’s more than one leader at the top.
- Run a trial exit
Before you actually step away, test it. Take a break. Reduce your hours. Create scenarios where you’re deliberately unavailable.
This gives your future leaders space to lead – while you’re still around as a safety net.
- Plan for ownership, not just leadership
If you’re considering a Management Buyout, EMI scheme, or partial sale, your team will need time to prepare – financially and mentally.
For many business owners, this will be the first time that they have considered stepping aside – whether you’re looking to sell the business, or simply be less involved day-to day. Speak to specialists who can help you – the earlier the better – together you can map out what the journey could look like.
The big takeaway?
Exiting well is a process, not an event. The earlier you start building leadership capacity, the easier and smoother your transition will be – and the stronger the business will look to buyers, investors, or your internal team.
And the best part? You can step back without disappearing – knowing the business is in safe hands.
We work with business owners across Dorset and beyond who are planning their next chapter – whether that’s selling up, stepping down, or simply gaining freedom.
If you’re thinking about this journey, we’re always happy to chat through where you are and what the next steps might be.
