As I have stated earlier, planning is essential to the degree of success that will be realized in your succession plan. However, the key to succession is that it is a journey of listening and communication. And a succession plan may be altered, with course corrections throughout the journey.
Thus follow the adage: READY, FIRE, AIM.
The succession plan begins with the first step of realizing that you need to have a succession plan. In the beginning, you have a general idea of where you wish to go without a clear idea of the end point and what it would look like. Sometimes, you may spend too much time on the planning without actually setting about to develop the plan. The best summary that I have recently read on this topic is from Marshall Goldsmith of Harvard. His article on this planning-development cycle is in the article below.
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