Don’t name your successor too soon

The PSMJ Tips newsletter of April 23 advises principals of design construction firms not to name a successor two or three years before they retire. Instead, PSMJ says it’s wiser to identify three or four potential candidates and give each of them the same level of training and mentorship to see which one “rises to the top.”
Choosing a single successor too early means that your options might be limited, should someone more suitable start to emerge.