--- title: How to build value by starting succession planning early [cheat sheet] description: James shares a cheat sheet with 6 strategies for making succession planning part of your business model and explains how a good strategy builds value. image: https://blog.jpabusiness.com.au/hubfs/3.%20Infographics%20and%20cheat%20sheets/How%20to%20make%20succession%20part%20of%20your%20business%20model.png --- 11 February 2020 # How to build value by starting succession planning early [cheat sheet] WRITTEN BYJames Price | JPAbusiness ![top view of 8 people sitting around a table at a business meeting](https://blog.jpabusiness.com.au/hs-fs/hubfs/top%20view%20of%20people%20at%20a%20meeting.jpg?width=1000&name=top%20view%20of%20people%20at%20a%20meeting.jpg) The following cheat sheet contains **6 succession strategies you can start employing in your business today**. Adopting these strategies will help future-proof your business for when and if you decide to take up an exit opportunity, or relinquish operational involvement in your business. It’s **never too early to start thinking about your succession plan** and developing the skills of your team and business capability. If you future-proof your business in this way, **the business should thrive even if you’re not there**, and **the market should reward you**. [![How to make succession part of your business model](https://blog.jpabusiness.com.au/hs-fs/hubfs/3.%20Infographics%20and%20cheat%20sheets/How%20to%20make%20succession%20part%20of%20your%20business%20model.png?width=900&name=How%20to%20make%20succession%20part%20of%20your%20business%20model.png)](https://blog.jpabusiness.com.au/hubfs/3.%20Infographics%20and%20cheat%20sheets/How%20to%20make%20succession%20part%20of%20your%20business%20model.pdf) ## How to use our Business Succession Scorecard We have also created the **Business Succession Scorecard** so you can **rate your business’ preparedness for succession** based on several key parameters: - Leadership - Decision making - Operations - Culture - Communication - Forced exit - Business transition. The final items in the scorecard – **Forced Exit** and **Business Transition** – are really the **acid tests for determining whether your business is sustainable and has value **i.e. will it survive without me, and let’s see what the market thinks!   [![New Call-to-action](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/2108706/3aeb4484-b3cd-4c3c-9fa3-931c56766a92.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/2108706/3aeb4484-b3cd-4c3c-9fa3-931c56766a92)   ### When should I start succession planning? (Hint: not when you're old) Many people think of succession planning as **an old person’s problem** – something you do once you decide to exit your business.  **Not true. **Succession planning is **a young person’s pathway to building a valuable and sustainable business** by building the skills and depth of their team. If you would like support to develop a succession plan for your business, [contact](https://landing.jpabusiness.com.au/contactus) the team at JPAbusiness on** 02 6360 0360** or **02 9893 1803** for a confidential, obligation-free discussion.   [![New Call-to-action](https://hubspot-no-cache-ap1-prod.s3.amazonaws.com/cta/default/2108706/413bd3b1-8bd3-46dd-a3ad-e0f2dbdd66a3.png)](https://hubspot-cta-redirect-ap1-prod.s3.amazonaws.com/cta/redirect/2108706/413bd3b1-8bd3-46dd-a3ad-e0f2dbdd66a3) Share this Article Share this blog post on Twitter [mailto:?subject=Share%20this%20blog%20post&body=https://blog.jpabusiness.com.au/blog/how-to-build-value-by-starting-succession-planning-early-cheat-sheet](mailto:?subject=Share%20this%20blog%20post&body=https://blog.jpabusiness.com.au/blog/how-to-build-value-by-starting-succession-planning-early-cheat-sheet) Copied to clipboard Topics - [cheat sheet ](https://blog.jpabusiness.com.au/blog/topic/cheat-sheet) - [succession planning ](https://blog.jpabusiness.com.au/blog/topic/succession-planning) - [staff management ](https://blog.jpabusiness.com.au/blog/topic/staff-management) - [business management ](https://blog.jpabusiness.com.au/blog/topic/business-management) - [running a business ](https://blog.jpabusiness.com.au/blog/topic/running-a-business) - [business succession ](https://blog.jpabusiness.com.au/blog/topic/business-succession) - [succession plan ](https://blog.jpabusiness.com.au/blog/topic/succession-plan) About James Price | JPAbusiness James Price has over 30 years’ experience in providing strategic, commercial and valuation advice to Australian and international business clients. James’ blogs provide business advice for aspiring and current small to mid-sized business owners, operators and managers. #### Related Blog Posts ### [How to drive positive business culture](https://blog.jpabusiness.com.au/blog/how-to-drive-positive-business-culture-cartoon) It’s no secret that strong, sustainable business cultures contribute to strong, sustainable... [Read more ](https://blog.jpabusiness.com.au/blog/how-to-drive-positive-business-culture-cartoon) ### [Does culture have value?](https://blog.jpabusiness.com.au/blog/does-culture-have-value) Culture is often considered one of the most nebulous and intangible elements to assess when... 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