We have outlined many pre-planning concepts for your succession plan.  All this planning is just that planning.  At some point, you have to move from planning to execution.  The goal of all of this work is to find a way for an orderly succession of your business from you to your successors.  What will that look like once completed.  How will you measure your success and what are the milestones that you wish to achieve?

This succession exercise would be like saying, “I want to drive from San Diego to New York City”.  The task is daunting but you generally know the direction.  You have to get down to the details of a map of the US to understand the general method by which you would traverse the country.  In the same way, the succession plan end result is known.  The middle parts are what are murky.

Let’s break it down.

First you need to identify and work with your successors.  Second you need to communicate with your identified successors.  You also need to continue to run your business during all of this or find someone who can do this for you.   All daunting tasks.

As the wise man once said, the journey of a thousand miles begins with the first step.

This journey as daunting as it may seem, is not impossible.  Take baby steps and start moving forward, one small step at a time.  You will find that the tasks and progress will become easier the more you work at it.

Good luck and most of all enjoy the journey.

Learn think apply.