Some thoughts about what may cause a succession plan to bog down or even worse, stop completely…

If your succession plan has stalled, 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? – what defines success in your succession path

– need a cheerleader? – who is holding the leaders and stakeholders to account

– continuing communication about key issues and more importantly the role of stakeholders and family members in the succession plan?  – are there regular check in’s to monitor progress and have continuing communication with course corrections as needed

– letting go and letting others take the reins (partial or wholly)? – are you sharing the knowledge and letting others make decisions?

– without fear or favour, doing the right thing?  Does fair mean equal? – planning yet done around your testamentary wishes?

Are any of these points some of the reasons you are not able to move forward?  You can seek counsel after ID’ing what are the significant stumbling block for you.

Just some thoughts which I will elaborate further on in later posts.

Learn, think, apply.