Because I work with business owners, entrepreneurs, and executives, we often have discussions on succession planning. 

Everyone understands the need for succession planning, yet they often don’t take the steps to put anything into action. Worse yet, they don’t understand how poor succession planning wreaks havoc with their organization. 

Let me provide a couple of examples. 

Let’s assume you are one of four sales managers in your company. How will you get promoted if you do not develop someone to replace you? Or let’s assume you own a business.    What is your long-term succession plan? 

Do you want to sell the business, merge with someone, or have someone in your company step up to take over? If you don’t think about this and plan for it, then you’ll be working till the day you die, and then the business may fall apart. 

Consider what will happen if a key employee in a department leaves and no one is being developed to take their place. The list of possible negative impacts of poor succession planning is long. 

But succession planning doesn’t have to be a big project that consumes all your time and resources. 

Succession planning starts with thinking about it. What does it mean to you, whether you are the business owner, department head, or a key leader? Does it mean you have to constantly focus on developing employees to step into other roles? Perhaps it means determining how you will build your own career. Or, as the owner, what will you do with the business long-term…sell, merge, or what? 

Determine how you are going to get there and set up a process so you reach your goal. It may take years for you to realize the results, and that’s OK. Take baby steps, but take steps. Soon you’ll find you’re there without a lot of fuss and suffering.

Part of the challenge with succession planning for everyone is knowing where to begin.  

How do you even begin the process?  

We have the answer.  Download our guide:  7 Steps to Successful Succession Planning.  We provide the steps and a plan of action.