Some thoughts about what may cause a succession plan to bog down or even worse, stop completely…
If your succession plan has bogged down, there are definitely some remedies to help to get you back on track. Remember, succession is not an end in itself; it is all about the journey. Here are some of the potential roadblocks for consideration:
– lack of clear goals, objectives and timelines
– need a cheerleader
– continuing communication about key issues and more importantly the role of stakeholders and family members in the succession plan
– letting go and letting others take the reins (partial or wholly)
– without fear or favour, doing the right thing
Just some thoughts which I will elaborate further on in later posts.
Learn, think, apply.