How can you ensure a smooth transition for clients and stakeholders during a CEO or founder exit?

1 Assess the situation

The first step is to assess the situation and understand the reasons, timing, and implications of the exit. Is it voluntary or forced? Is it sudden or gradual? Is it temporary or permanent? How will it affect the vision, strategy, and culture of the practice? These questions will help you determine the level of urgency, risk, and opportunity involved in the transition.

2 Plan the succession

The next step is to plan the succession and identify who will take over the leadership and management roles of the exiting CEO or founder. Ideally, you should have a succession plan in place before the exit, but if not, you need to act quickly and decisively. You should consider the skills, experience, and fit of the potential successors, as well as the feedback and expectations of the clients and stakeholders. You should also define the roles, responsibilities, and authority of the interim and permanent leaders, and set clear and realistic goals and timelines for the transition.

4 Maintain the continuity

The fourth step is to maintain the continuity and quality of the services and projects that you deliver to your clients and stakeholders. You should ensure that the exit does not disrupt or delay your work, and that you meet or exceed your commitments and expectations. You should also leverage the existing relationships and trust that you have built with your clients and stakeholders, and reassure them that you will continue to provide them with the same or better level of service and value.

5 Manage the emotions

The fifth step is to manage the emotions and reactions of yourself and your team during the exit. You should acknowledge and respect the feelings of loss, uncertainty, or anxiety that you or your team may experience, and provide them with the support and resources they need to cope. You should also celebrate and honor the legacy of the exiting CEO or founder, and recognize their positive impact on the practice. Moreover, you should foster a culture of optimism, collaboration, and innovation, and encourage your team to embrace the change and the opportunities it brings.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?