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5 Lessons From Billionaires That Your 'Startup Self' Should Follow

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02.07.2019

While there are seemingly countless articles out there about how you can follow billionaires’ work habits to achieve financial success for your business, these articles only capture a small part of the picture. Like many startup founders, these individuals aren’t just concerned about the here and now -- they are focused on the future, including what will happen when they are no longer running a business.

Because of this, many billionaires focus on leaving a meaningful legacy for family members, business partners and others -- and not just in terms of finances. These same legacy concepts should also be adopted by startup founders who wish to leave a mark long after they leave their company.

Few people stay in the same job forever -- and this even applies to company founders. One need only look at a list of the world’s most famous serial entrepreneurs like Andreas von Bechtolsheim or the Samwer brothers to see that even extremely talented founders don’t necessarily stay with the company they started.

Related: 4 Lessons From an Entrepreneur Who Became a Self-Made Billionaire

Regardless of whether you hope to sell your company or plan on maintaining your role until you retire, you undoubtedly want it to maintain continued success after you’re gone. A succession plan ensures that your organization is ready to build on your foundation by finding a qualified individual to take your place.

As Leigh Richards writes in a Chron blog post, “At the top levels of the organization, succession planning, by definition, is critical to ensure that these key positions -- if suddenly........

© Entrepreneur