Business Succession

The real secret to succession planning is to think beyond a person as successor and think of the business transforming. Evolution is a better framework to think of an organization. We know humans die...organizations can live...if they chose to evolve. A great way to focus on succession planning is to think beyond the individual and frame the discussion on the organization. Here are 4 tips to begin succession planning.

1. Decide what the organization stands for. If it's not clear, then you've discovered one of the first issues to work on. Today all sorts of words are used to formalize this, but the simple and honest answer is what in the world your purpose is. What difference do you make in the lives of customers? What difference do you make in the lives of employees? Search for why the business exists. You may be lucky to still have the founder of the business. Founders are a treasure of soulful purposes why the business started and exists. If you're talking about profit, sales and customers. Try again. A powerful example we share is words from our founders..."to provide, life, liberty and the pursuit of happiness." Search for the words which make you shudder.

2. Make clear what you wish to protect. Succession planning is about choice. If the company were to lose all the assets today...no brick and mortar. What is left? People, values, purpose. Of course the easy and no brain-er is protect assets, protect money. But is that really the answer? You should quake a bit when you've discovered what you wish to protect. Is it honesty, courage, integrity, responsibility? Move over to the soulful side and you'll protect the most important.

3. Assess what's missing now. Before beginning with the job posting, stop and think what is missing? Go deeper and think about what it feels to work in the organization. If you've honestly answered the first two questions, it is very clear what is missing. Beware, profits, sales, efficiency measures are economic measures and only lagging indicators of how the job is getting done. If people are engaged, energized, honest and creative...the economics follow. If economics are struggling. It's the organizational culture.