Succession is all about planning for future events.

Hoping for the best: a successful, orderly and timely transition of your business.
Planning for the worst: what if the unforeseen happens?

It is not always possible to anticipate every event. However, as the leader, it is your role and duty to plan for major life events. Let’s speak about two such significant events, death and disability…of you or a key person in the company.

Both of these life changing events result in the same immediate concern. Somehow the business has to continue to operate. How can you do this?

– write down a contingency plan including key suppliers and customers and tell someone about this plan
– identify key personnel to step up if you are not there
– buy insurance. This will be the subject of a more detailed future blog

Try to plan and strategize what you and your key players will do to address these difficult topics.
Your time will be well spent.

Learn think apply.