Perhaps the most powerful illustration of succession's importance inside the family firm is the staggering number of family businesses that plan to hand over control to the next generation in the short_term. For instance, in the US alone, 40% of family business CEO's are planning to transfer power to the next generation within the next 5 years. When viewed in combination with the factors surrounding succession, this statistic truly represents the importance of the succession process not only within the firm, but also on a macroeconomic level_family_owned businesses have served as the backbone of society since the times of the ancient Greeks.
A clear timeline is the backbone of a solid project plan. Confusion related deadlines, and what is required for those deadlines, is a common problem many teams face while working on a project. That’s why it’s important to break your projects down into smaller tasks with staggered deadlines. How you actually visualize your timeline will play a big role in how readable and straightforward your timeline is. There are a lot of moving pieces that contribute to the completion of a project. It can be easy to lose track of different tasks. A mind map shows relationships between pieces of a whole.